Maryland HB738 establishes the Maryland Transfer-on-Death Deed Act, allowing property owners to designate beneficiaries to inherit real property upon.

Maryland HB738 creates the Maryland Transfer-on-Death Deed Act, which allows property owners to designate beneficiaries to inherit real property upon their death without the need for probate. The act outlines the creation, revocation, and effects of a transfer-on-death deed. A transfer-on-death deed is effective if recorded before the transferor's death and transfers property to the designated beneficiary upon the transferor's death. The act also provides for the disclaimer of nonprobate transfers at death and modifies certain recording requirements for the clerks of the circuit court.

Maryland HB738 establishes the Maryland Transfer-on-Death Deed Act, allowing property owners to designate beneficiaries to inherit real property upon.

Maryland HB738 creates the Maryland Transfer-on-Death Deed Act, which allows property owners to designate beneficiaries to inherit real property upon their death without the need for probate. The act outlines the creation, revocation, and effects of a transfer-on-death deed. A transfer-on-death deed is effective if recorded before the transferor's death and transfers property to the designated beneficiary upon the transferor's death. The act also provides for the disclaimer of nonprobate transfers at death and modifies certain recording requirements for the clerks of the circuit court.