S.2050

Rhode Island S2050 allows real property owners to execute a deed that transfers property to designated beneficiaries upon the owner's death without.

Rhode Island S2050, known as the Uniform Real Property Transfer on Death Act, enables owners of real property to execute a deed that names beneficiaries who will receive the property at the owner's death, bypassing the probate process. The act applies to deeds made on or after January 1, 2027. A transfer on death deed can be revoked at any time before the owner's death. The act specifies that the deed is nontestamentary, meaning it is not part of a will, and it is revocable. The deed is effective without notice, delivery, acceptance, or consideration during the owner's life.