An Act relating to the transfer of a title on the death of the owner; relating to the transferability of common interest community ownership interests; and providing for an effective date.

Summary

The bill creates a new “transfer on death” (TOD) option for boats and vehicles, allowing owners to name one or two beneficiaries who receive the title when the owner dies. Owners can apply, change, or revoke the TOD designation at any time without the beneficiary’s consent. The change takes effect without notice, and the beneficiary receives the title subject only to existing liens and creditor claims.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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