Bill Text 28th Legislature
- Session Laws
00 Enrolled HB 60
01 Adopting and relating to the Uniform Real Property Transfer on Death Act; relating to
02 establishing the law governing certain trusts; and relating to disclaimers of property interests.
04 * Section 1. AS 13.36.035 is amended by adding new subsections to read:
05 (f) Unless the laws of this state govern the validity, construction, and
06 administration of the trust under (c) of this section, the laws of this state govern the
07 administration of a trust and the courts of this state have exclusive jurisdiction over the
08 trust and its trustees while the trust is administered in this state unless the governing
09 instrument of the trust
10 (1) specifies that the law of a jurisdiction other than this state governs
11 the administration of the trust;
12 (2) expressly prohibits a change in the choice of law for the
13 administration of the trust; and
01 (3) expressly states that a change in the choice of law for the
02 administration of the trust may not occur, even if a trustee from another jurisdiction
03 becomes a trustee of the trust.
04 (g) In (f) of this section, a trust is considered to be administered in this state if
05 (1) the governing instrument of the trust specifies that the trust is to be
06 administered in this state;
07 (2) the principal office of the trustee having custody of the trust's
08 principal assets and records is located in this state, unless the trustee elects to maintain
09 the administration of the trust in the state whose law is specified in the governing
10 instrument to govern;
11 (3) the only trustee who is acting to administer the trust is a qualified
12 person, unless the trustee elects to maintain the administration of the trust in the state
13 whose law is specified in the governing instrument to govern;
14 (4) a majority of all trustees acting to administer the trust consists of
15 qualified persons, unless a majority of the trustees elects to maintain the
16 administration of the trust in the state whose law is specified in the governing
17 instrument to govern; or
18 (5) a majority of the trustees are not qualified persons and a majority
19 of the trustees, including at least one trustee who is a qualified person, executes an
20 acknowledged instrument that this state shall be the primary place of administration
21 for the trust.
22 (h) The trustee shall make the election in (g)(2) - (4) of this section by an
23 instrument that is acknowledged and filed in a court of the state whose law is specified
24 in the governing instrument to govern.
25 * Sec. 2. AS 13 is amended by adding a new chapter to read:
26 Chapter 48. Uniform Real Property Transfer on Death Act.
27 Sec. 13.48.010. Transfer on death deed authorized. An individual may
28 transfer property to one or more beneficiaries effective at the transferor's death by a
29 transfer on death deed.
30 Sec. 13.48.020. Transfer on death deed revocable. A transfer on death deed
31 is revocable even if the deed or another instrument contains a contrary provision.
01 Sec. 13.48.030. Transfer on death deed nontestamentary. A transfer on
02 death deed is nontestamentary.
03 Sec. 13.48.040. Capacity of transferor. The capacity required to make or
04 revoke a transfer on death deed is the same as the capacity required to make a will.
05 Sec. 13.48.045. When certain deeds void; challenges to deed. (a) A transfer
06 on death deed or an instrument revoking a transfer on death deed is void if it is
07 obtained by fraud, duress, or undue influence.
08 (b) A proceeding must be commenced within 12 months after the transferor's
09 death to
10 (1) contest the capacity of the transferor; or
11 (2) determine whether a transfer on death deed or an instrument
12 revoking a transfer on death deed is void because it was obtained by fraud, duress, or
13 undue influence.
14 Sec. 13.48.050. Requirements. A transfer on death deed
15 (1) except as otherwise provided in (2) and (3) of this section, must
16 contain the essential elements and formalities of a properly recordable inter vivos
18 (2) must state that the transfer to the designated beneficiary is to occur
19 at the transferor's death;
20 (3) may not use a beneficiary designation that only identifies
21 beneficiaries as members of a class; a transfer on death deed that uses a beneficiary
22 designation that only identifies beneficiaries as members of a class is void; and
23 (4) must be recorded before the transferor's death in the public records
24 in the office of the recorder in the recording district where the property is located.
25 Sec. 13.48.060. Notice, delivery, acceptance, consideration not required. A
26 transfer on death deed is effective without
27 (1) notice or delivery to, or acceptance by, the designated beneficiary
28 during the transferor's life; or
29 (2) consideration.
30 Sec. 13.48.070. Revocation by instrument authorized; revocation by act
31 not permitted. (a) Subject to (b) of this section, an instrument is effective to revoke a
01 recorded transfer on death deed, or any part of it, only if the instrument
02 (1) is one of the following:
03 (A) a transfer on death deed that revokes the deed or part of the
04 deed expressly or by inconsistency;
05 (B) an instrument of revocation that expressly revokes the deed
06 or part of the deed;
07 (C) an inter vivos deed that expressly revokes the transfer on
08 death deed or part of the deed; or
09 (D) to the extent of the interest transferred by the inter vivos
10 deed, an inter vivos deed that transfers an interest in property that is the subject
11 of a transfer on death deed; and
12 (2) is acknowledged by the transferor after the acknowledgment of the
13 deed being revoked and recorded before the transferor's death in the recording district
14 where the deed is recorded.
15 (b) If a transfer on death deed is made by more than one transferor,
16 (1) revocation by a transferor does not affect the deed as to the interest
17 of another transferor; and
18 (2) a deed of joint owners is revoked only if it is revoked by all of the
19 living joint owners.
20 (c) After a transfer on death deed is recorded, it may not be revoked by a
21 revocatory act on the deed.
22 (d) This section does not limit the effect of an inter vivos transfer of the
24 (e) If a recorded power of attorney or the transfer on death deed expressly
25 grants a designated agent of the transferor the power to revoke a transfer on death
26 deed, the designated agent may revoke the transfer on death deed as provided in this
28 Sec. 13.48.080. Effect of transfer on death deed during transferor's life.
29 During a transferor's life, a transfer on death deed does not
30 (1) affect an interest or right of the transferor or any other owner,
31 including the right to transfer or encumber the property;
01 (2) affect an interest or right of a transferee, even if the transferee has
02 actual or constructive notice of the deed;
03 (3) affect an interest or right of a secured or unsecured creditor or
04 future creditor of the transferor, even if the creditor has actual or constructive notice of
05 the deed;
06 (4) affect the transferor's or designated beneficiary's eligibility for any
07 form of public assistance;
08 (5) create a legal or equitable interest in favor of the designated
09 beneficiary; or
10 (6) subject the property to claims or process of a creditor of the
11 designated beneficiary.
12 Sec. 13.48.090. Effect of transfer on death deed at transferor's death. (a)
13 Except as otherwise provided in the transfer on death deed, in this section, or in
14 AS 13.12.203, 13.12.702, 13.12.803, or 13.12.804, on the death of the transferor, the
15 following rules apply to property that is the subject of a transfer on death deed and
16 owned by the transferor at death:
17 (1) subject to (2) of this subsection, the interest in the property is
18 transferred to the designated beneficiary under the deed;
19 (2) the interest of a designated beneficiary is contingent on the
20 designated beneficiary surviving the transferor; the interest of a designated beneficiary
21 that fails to survive the transferor lapses;
22 (3) subject to (4) and (5) of this subsection, concurrent interests are
23 transferred to the beneficiaries in equal and undivided shares with no right of
25 (4) if the transferor has identified two or more designated beneficiaries
26 to receive concurrent interests in the property and if the transferor has not named an
27 alternate designated beneficiary under (5) of this subsection for the share of a
28 designated beneficiary that lapses or fails for any reason, the lapsing or failing share is
29 transferred to the other remaining designated beneficiaries in proportion to the interest
30 of each remaining beneficiary in the remaining part of the property held concurrently;
31 (5) the transferor may identify one or more alternate designated
01 beneficiaries to take the share of a designated beneficiary that lapses or fails for any
03 (b) Subject to AS 40.17, a beneficiary takes the property subject to all
04 conveyances, encumbrances, assignments, contracts, mortgages, liens, and other
05 interests to which the property is subject at the transferor's death. For purposes of this
06 subsection and AS 40.17, the recording of the transfer on death deed is considered to
07 have occurred at the transferor's death.
08 (c) If a transferor is a joint owner and is
09 (1) survived by one or more other joint owners, the property that is the
10 subject of a transfer on death deed belongs to the surviving joint owner or owners with
11 right of survivorship; or
12 (2) the last surviving joint owner, the transfer on death deed is
14 (d) A transfer on death deed transfers property without covenant or warranty
15 of title even if the deed contains a contrary provision.
16 Sec. 13.48.100. Disclaimer. A beneficiary may disclaim all or part of the
17 beneficiary's interest as provided by AS 13.70 (Uniform Disclaimer of Property
18 Interests Act).
19 Sec. 13.48.110. Liability for creditor claims and statutory allowances. (a)
20 To the extent the transferor's probate estate is insufficient to satisfy an allowed claim
21 against the estate, the costs of administration of the estate, or a statutory allowance to a
22 surviving spouse or child, the estate may enforce the liability against property
23 transferred at the transferor's death by a transfer on death deed.
24 (b) If more than one property is transferred by one or more transfer on death
25 deeds, the liability under (a) of this section is apportioned among the properties in
26 proportion to their net values at the transferor's death.
27 (c) A proceeding to enforce the liability under this section must be
28 commenced not later than 12 months after the transferor's death. A proceeding to
29 enforce the liability under (a) of this section may not be commenced unless the
30 personal representative of the transferor's estate has received a written demand by the
31 surviving spouse, a creditor, a child, or a person acting for a child of the decedent.
01 Sec. 13.48.120. Optional form of transfer on death deed. The following
02 form may be used to create a transfer on death deed. The provisions of this chapter
03 govern the effect of this or any other instrument used to create a transfer on death
05 (front of form)
06 REVOCABLE TRANSFER ON DEATH DEED
07 NOTICE TO OWNER
08 You should carefully read all information on the other side of
09 this form. Transferring real property by using a transfer on death
10 deed may have important legal consequences in addition to
11 designating who will receive the real property on the transferor's
12 death. These consequences may include, but are not limited to, (1)
13 affecting the beneficiary's eligibility for public assistance; and (2)
14 affecting creditors' rights. If you have any questions, you should
15 consult an attorney.
16 This form must be recorded before your death, or it will not be
18 IDENTIFYING INFORMATION
19 Owner or Owners Making This Deed:
20 _________________________ _________________________
21 Printed name Mailing address
23 Marital status
24 _________________________ _________________________
25 Printed name Mailing address
27 Marital status
28 Legal description of the property:
30 PRIMARY BENEFICIARY/BENEFICIARIES
31 (Please list one or more primary beneficiaries. You may want to
01 obtain legal advice before listing more than one primary beneficiary.
02 There is more than one way to transfer property to several persons.)
03 I designate the following beneficiary if the beneficiary survives
05 _________________________ _________________________
06 Printed name Mailing address, if available
08 Marital status
09 ALTERNATE BENEFICIARY/BENEFICIARIES - Optional
10 (You may list one or more alternate beneficiaries. You may
11 want to obtain legal advice before listing more than one alternate
12 beneficiary. There is more than one way to transfer property to several
14 If my primary beneficiary does not survive me, I designate the
15 following alternate beneficiary if that beneficiary survives me:
16 _________________________ _________________________
17 Printed name Mailing address, if available
19 Marital status
20 TRANSFER ON DEATH
21 At my death, I transfer my interest in the described property to
22 the beneficiaries as designated above.
23 Before my death, I have the right to revoke this deed.
24 AUTHORITY OF DESIGNATED AGENT TO REVOKE THIS DEED
25 I authorize the following designated agent to revoke this deed
26 before my death:
27 _________________________ _________________________
28 Printed name Mailing address
29 SIGNATURE OF OWNER OR OWNERS MAKING THIS DEED
30 _________________________ _________________________
31 Signature Date
01 _________________________ _________________________
02 Signature Date
04 State of ______________________________________ Judicial
05 District (or County of ________________________ or Municipality of
07 The foregoing instrument was acknowledged before me this
08 (date) by (name of person who acknowledged).
10 Signature of Person Taking
13 Title or Rank
15 Serial Number, if any
16 (back of form)
17 COMMON QUESTIONS ABOUT THE USE OF THIS FORM
18 What does the Transfer on Death (TOD) deed do? When you
19 die, this deed transfers the described property, subject to any liens or
20 mortgages (or other encumbrances) on the property at your death.
21 Probate is not required. The TOD deed has no effect until you die. You
22 can revoke it at any time. You are also free to transfer the property to
23 someone else during your lifetime. If you do not own any interest in the
24 property when you die, this deed will have no effect.
25 How do I make a TOD deed? Complete this form. Have it
26 acknowledged before a notary public or other individual authorized by
27 law to take acknowledgments. Record the form in each recording
28 district where any part of the property is located. The form has no
29 effect unless it is acknowledged and recorded before your death.
30 Is the "legal description" of the property necessary? Yes.
31 How do I find the "legal description" of the property? This
01 information may be on the deed you received when you became an
02 owner of the property. This information may also be available in the
03 office of the recorder in the recording district where the property is
04 located. If you are not absolutely sure, consult a lawyer.
05 Can I change my mind before I record the TOD deed? Yes.
06 If you have not yet recorded the deed and want to change your mind,
07 simply tear up or otherwise destroy the deed.
08 How do I "record" the TOD deed? Take the completed and
09 acknowledged form to the office of the recorder in the recording district
10 where the property is located. Follow the instructions given by the
11 recorder to make the form part of the official property records. If the
12 property is in more than one recording district, you should record the
13 deed in each recording district.
14 Can I later revoke the TOD deed if I change my mind? Yes.
15 You can revoke the TOD deed. Except for a court, no one, including
16 the beneficiaries, can prevent you from revoking the deed.
17 How do I revoke the TOD deed after it is recorded? There
18 are three ways to revoke a recorded TOD deed: (1) Complete and
19 acknowledge a revocation form, and record it in each recording district
20 where the property is located. (2) Complete and acknowledge a new
21 TOD deed that disposes of the same property, and record it in each
22 recording district where the property is located. (3) Transfer the
23 property to someone else during your lifetime by a recorded deed that
24 expressly revokes the TOD deed. You may not revoke the TOD deed
25 by will.
26 I am being pressured to complete this form. What should I
27 do? Do not complete this form under pressure. Seek help from a trusted
28 family member, friend, or lawyer.
29 Do I need to tell the beneficiaries about the TOD deed? No,
30 but it is recommended. Secrecy can cause later complications and
31 might make it easier for others to commit fraud.
01 I have other questions about this form. What should I do?
02 This form is designed to fit some but not all situations. If you have
03 other questions, you are encouraged to consult a lawyer.
04 Sec. 13.48.130. Optional form of revocation. The following form may be
05 used to create an instrument of revocation under this chapter. The provisions of this
06 chapter govern the effect of this or any other instrument used to revoke a transfer on
07 death deed.
08 (front of form)
09 REVOCATION OF TRANSFER ON DEATH DEED
10 NOTICE TO OWNER
11 This revocation must be recorded before you die or it will not
12 be effective. This revocation is effective only as to the interests in the
13 property of owners who sign this revocation.
14 IDENTIFYING INFORMATION
15 Owner or Owners Making This Revocation:
16 _________________________ _________________________
17 Printed name Mailing address
19 Marital status
20 _________________________ _________________________
21 Printed name Mailing address
23 Marital status
24 Legal description of the property:
27 I revoke all my previous transfers of this property by transfer on
28 death deed.
29 SIGNATURE OF OWNER OR OWNERS MAKING THIS
31 _________________________ _________________________
01 Signature Date
02 _________________________ _________________________
03 Signature Date
05 State of ______________________________________ Judicial
06 District (or County of ________________________ or Municipality of
08 The foregoing instrument was acknowledged before me this
09 (date) by (name of person who acknowledged).
11 Signature of Person Taking
14 Title or Rank
16 Serial Number, if any
17 (back of form)
18 COMMON QUESTIONS ABOUT THE USE OF THIS FORM
19 How do I use this form to revoke a Transfer on Death
20 (TOD) deed? Complete this form. Have it acknowledged before a
21 notary public or other individual authorized to take acknowledgments.
22 Record the form in the public records in the office of the recorder in
23 each recording district where the property is located. The form must be
24 acknowledged and recorded before your death or it has no effect.
25 How do I find the "legal description" of the property? This
26 information may be on the TOD deed. It may also be available in the
27 office of the recorder in the recording district where the property is
28 located. If you are not absolutely sure, consult a lawyer.
29 How do I "record" the form? Take the completed and
30 acknowledged form to the office of the recorder in the recording district
31 where the property is located. Follow the instructions given by the
01 recorder to make the form part of the official property records. If the
02 property is located in more than one recording district, you should
03 record the form in each of those recording districts.
04 I am being pressured to complete this form. What should I
05 do? Do not complete this form under pressure. Seek help from a trusted
06 family member, friend, or lawyer.
07 I have other questions about this form. What should I do?
08 This form is designed to fit some but not all situations. If you have
09 other questions, consult a lawyer.
10 Sec. 13.48.140. Nonexclusivity. The provisions of this chapter do not affect
11 any method of transferring property otherwise permitted under the law of this state.
12 Sec. 13.48.150. Uniformity of application and construction. In applying and
13 construing this uniform act, consideration shall be given to the need to promote
14 uniformity of the law with respect to its subject matter among the states that enact it.
15 Sec. 13.48.160. Relationship to Electronic Signatures in Global and
16 National Commerce Act. The provisions of this chapter modify, limit, and supersede
17 15 U.S.C. 7001 - 7031 (Electronic Signatures in Global and National Commerce Act),
18 but do not modify, limit, or supersede 15 U.S.C. 7001(c) or authorize electronic
19 delivery of any of the notices described in 15 U.S.C. 7003(b).
20 Sec. 13.48.190. Definitions. In this chapter,
21 (1) "beneficiary" means a person who receives property under a
22 transfer on death deed;
23 (2) "designated beneficiary" means a person designated to receive
24 property in a transfer on death deed;
25 (3) "joint owner" means an individual who is a tenant by the entirety,
26 who is an owner of community property with a right of survivorship, or who otherwise
27 owns property concurrently with one or more other individuals with a right of
28 survivorship, but does not include an individual who is a tenant in common or other
29 owner of community property without a right of survivorship or who is a joint tenant,
30 other than an individual who is a tenant by the entirety;
31 (4) "person" means an individual, corporation, business trust, estate,
01 trust, partnership, limited liability company, association, joint venture, public
02 corporation, government or governmental subdivision, agency, or instrumentality, or
03 any other legal or commercial entity;
04 (5) "property" means an interest in real property located in this state
05 which is transferable on the death of the owner;
06 (6) "transfer on death deed" means a deed authorized under this
08 (7) "transferor" means an individual who makes a transfer on death
10 Sec. 13.48.195. Short title. This chapter may be cited as the Uniform Real
11 Property Transfer on Death Act.
12 * Sec. 3. AS 13.70.100(e) is amended to read:
13 (e) In the case of an interest created by a beneficiary designation that is
14 disclaimed [MADE] before [THE TIME] the designation becomes irrevocable, the
15 [A] disclaimer shall be delivered to the person making the beneficiary designation.
16 * Sec. 4. AS 13.70.100(f) is amended to read:
17 (f) In the case of an interest created by a beneficiary designation that is
18 disclaimed [MADE] after [THE TIME] the designation becomes irrevocable, the [A]
19 disclaimer of an interest in
20 (1) personal property shall be delivered to the person obligated to
21 distribute the interest; and
22 (2) real property shall be recorded in the office of the recorder in
23 the recording district where the real property that is the subject of the disclaimer
24 is located.
25 * Sec. 5. AS 13.70.130 is amended to read:
26 Sec. 13.70.130. Recording of disclaimer. If an instrument transferring an
27 interest in or power over property subject to a disclaimer is required or permitted by
28 law to be filed, recorded, or registered, the disclaimer may be filed, recorded, or
29 registered as required or permitted by law. Except as otherwise provided in
30 AS 13.70.100(f)(2), failure [FAILURE] to file, record, or register the disclaimer does
31 not affect its validity as between the disclaimant and persons to whom the property
01 interest or power passes by reason of the disclaimer.
02 * Sec. 6. The uncodified law of the State of Alaska is amended by adding a new section to
04 APPLICABILITY. (a) Sections 2 - 5 of this Act apply to a transfer on death deed
05 made on or after the effective date of this Act. In this section, "transfer on death deed" has the
06 meaning given in AS 13.48.190, enacted by sec. 2 of this Act.
07 (b) AS 13.70.100(e), as amended by sec. 3 of this Act, AS 13.70.100(f), as amended
08 by sec. 4 of this Act, and AS 13.70.130, as amended by sec. 5 of this Act, apply to a
09 disclaimer that is made under AS 13.70 on or after the effective date of this Act.
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