LB422

Nebraska LB422 amends the Nebraska Uniform Real Property Transfer on Death Act to update warnings and insurance policy requirements.

Nebraska LB422 modifies the Nebraska Uniform Real Property Transfer on Death Act by updating the warnings required on transfer on death deeds and clarifying insurance policy requirements. The act specifies that a transfer on death deed must contain warnings about inheritance taxation and the limited coverage period of the transferor's insurance policy. It also mandates that the beneficiary of a transfer on death deed becomes the named insured under any policy insuring the property for sixty days following the transferor's death.