Connecticut 2019 Regular Session

Connecticut House Bill HB07096

Introduced
2/7/19  

Caption

An Act Concerning Adoption Of The Uniform Real Property Transfer On Death Act.

Impact

The enactment of HB 07096 will significantly alter how real property transfers are handled in the state. From October 1, 2019, all transfers executed through this deed will negate the necessity of probate, thus allowing for a smoother transition of ownership. Additionally, the transfer on death deed is revocable, providing flexibility for property owners to change their designated beneficiaries at any time before their death, which encourages proactive estate planning among residents.

Summary

House Bill 07096, titled 'An Act Concerning Adoption Of The Uniform Real Property Transfer On Death Act,' aims to implement a structured method for individuals to transfer real estate to beneficiaries upon their death without the need for probate. The bill introduces a legal instrument known as a 'transfer on death deed,' which allows property owners to designate beneficiaries who will inherit the property automatically at the time of their death. This process simplifies estate management and can alleviate the burden of judicial processes on heirs.

Contention

While supporters argue that this legislation will streamline property transfers and make estate planning more accessible and less costly, there may be concerns about the implications for joint property ownership and the rights of surviving spouses or relatives. Moreover, potential conflicts could arise if beneficiaries are named in transfer on death deeds without proper communication, leading to disputes regarding property inheritance. As such, discussions among legal experts and community stakeholders may continue regarding the effectiveness and practicality of the provisions established by this bill.

Companion Bills

No companion bills found.

Previously Filed As

CT SB00272

An Act Concerning Adoption Of The Connecticut Uniform Trust Decanting Act.

CT SB00393

An Act Implementing The Treasurer's Recommendations Concerning Unclaimed Property.

CT SB00452

An Act Concerning The Property Tax Appeals Process And The Penalty Related To The Submission Of Income And Expenses Information For Rental Properties.

CT HB05172

An Act Concerning The Assessment Of Motor Vehicles For Property Taxation.

CT HB05290

An Act Concerning Various Revisions To The Public Health Statutes.

CT HB05228

An Act Concerning The Purchase Of Certain Lands At Agricultural Value.

CT SB00450

An Act Phasing In The Exemption Of Motor Vehicles From Property Tax And Increases In The Uniform Property Assessment Rate.

CT SB00006

An Act Concerning Housing.

CT SB00324

An Act Concerning Probate Court Operations And Administration.

CT SB00124

An Act Concerning The Connecticut Uniform Securities Act.

Similar Bills

NJ A4539

Establishes "Uniform Real Property Transfer on Death Act."

NJ S3376

Establishes "Uniform Real Property Transfer on Death Act."

TX HB703

Relating to authorizing a revocable deed that transfers real property at the transferor's death.

TX SB462

Relating to authorizing a revocable deed that transfers real property at the transferor's death.

RI S0141

Allows an owner or owners of real property to execute a deed that names one or more beneficiaries who will obtain title to the property at the owner's death without the necessity of probate.

RI H8130

Allows an owner or owners of real property to execute a deed that names one or more beneficiaries who will obtain title to the property at the owner's death without the necessity of probate.

RI S2027

Allows an owner or owners of real property to execute a deed that names one or more beneficiaries who will obtain title to the property at the owner's death without the necessity of probate.

RI S0136

Uniform Real Property Transfer On Death Act