Maryland SB214 allows sole vessel owners to designate a beneficiary for transfer-on-death.
Maryland SB214 establishes a process for sole vessel owners to designate a beneficiary to take ownership upon the owner's death. The bill outlines the requirements for the beneficiary designation application, including the date of sale, gross price, or fair market value of the vessel, and the beneficiary's name and address. The beneficiary designation does not require consideration or delivery of the vessel's certificate of title.
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- Core Provisions
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- Impact
- Legal Framework
- Critical Issues
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