1 | 1 | | |
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2 | 2 | | <BillNo> <Sponsor> |
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3 | 3 | | |
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4 | 4 | | SENATE BILL 984 |
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5 | 5 | | By Southerland |
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6 | 6 | | |
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7 | 7 | | |
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8 | 8 | | SB0984 |
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9 | 9 | | 000497 |
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10 | 10 | | - 1 - |
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11 | 11 | | |
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12 | 12 | | AN ACT to amend Tennessee Code Annotated, Title 8; |
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13 | 13 | | Title 30; Title 31; Title 32; Title 35; Title 55; Title 66 |
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14 | 14 | | and Title 67, relative to property. |
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15 | 15 | | |
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16 | 16 | | BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE: |
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17 | 17 | | SECTION 1. Tennessee Code Annotated, Title 31, is amended by adding the following |
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18 | 18 | | as a new chapter 8: |
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19 | 19 | | 31-8-101. Short title. |
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20 | 20 | | This chapter is known and may be cited as the "Uniform Real Property Transfer |
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21 | 21 | | on Death Act." |
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22 | 22 | | 31-8-102. Chapter definitions. |
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23 | 23 | | As used in this chapter: |
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24 | 24 | | (1) "Beneficiary" means a person that receives property under a transfer |
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25 | 25 | | on death deed; |
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26 | 26 | | (2) "Designated beneficiary" means a person designated to receive |
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27 | 27 | | property in a transfer on death deed; |
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28 | 28 | | (3) "Joint owner": |
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29 | 29 | | (A) Means an individual who owns property concurrently with one |
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30 | 30 | | (1) or more other individuals with a right of survivorship; |
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31 | 31 | | (B) Includes a joint tenant and tenant by the entirety; and |
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32 | 32 | | (C) Does not include a tenant in common or joint tenant with no |
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33 | 33 | | right of survivorship; |
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34 | 34 | | (4) "Person" means an individual; corporation; business trust; estate; |
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35 | 35 | | trust; partnership; limited liability company; association; joint venture; public |
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36 | 36 | | |
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37 | 37 | | |
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38 | 38 | | - 2 - 000497 |
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39 | 39 | | |
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40 | 40 | | corporation; government or governmental subdivision, agency, or instrumentality; |
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41 | 41 | | or any other legal or commercial entity; |
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42 | 42 | | (5) "Property" means an interest in real property located in this state that |
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43 | 43 | | is transferable on the death of the owner; |
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44 | 44 | | (6) "Transfer on death deed" means a deed authorized under this |
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45 | 45 | | chapter; and |
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46 | 46 | | (7) "Transferor" means an individual who makes a transfer on death |
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47 | 47 | | deed. |
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48 | 48 | | 31-8-103. Applicability. |
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49 | 49 | | This chapter applies to a transfer on death deed made before, on, or after July 1, |
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50 | 50 | | 2025, by a transferor dying on or after July 1, 2025. |
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51 | 51 | | 31-8-104. Nonexclusivity. |
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52 | 52 | | This chapter does not affect any method of transferring property otherwise |
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53 | 53 | | permitted under the law of this state. |
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54 | 54 | | 31-8-105. Transfer on death deed authorized. |
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55 | 55 | | An individual may transfer property to one (1) or more beneficiaries effective at |
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56 | 56 | | the transferor's death by a transfer on death deed. |
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57 | 57 | | 31-8-106. Transfer on death deed revocable. |
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58 | 58 | | A transfer on death deed is revocable even if the deed or another instrument |
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59 | 59 | | contains a contrary provision. |
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60 | 60 | | 31-8-107. Transfer on death deed nontestamentary. |
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61 | 61 | | A transfer on death deed is nontestamentary. |
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62 | 62 | | 31-8-108. Capacity of transferor. |
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63 | 63 | | The capacity required to make or revoke a transfer on death deed is the same as |
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64 | 64 | | the capacity required to make a will. |
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65 | 65 | | |
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66 | 66 | | |
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67 | 67 | | - 3 - 000497 |
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68 | 68 | | |
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69 | 69 | | 31-8-109. Requirements. |
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70 | 70 | | A transfer on death deed: |
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71 | 71 | | (1) Except as otherwise provided in subdivision (2), must contain the |
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72 | 72 | | essential elements and formalities of a properly recordable inter vivos deed; |
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73 | 73 | | (2) Must state that the transfer to the designated beneficiary is to occur at |
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74 | 74 | | the transferor's death; and |
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75 | 75 | | (3) Must be recorded before the transferor's death in the public records in |
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76 | 76 | | the office of the county register of deeds of the county where the property is |
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77 | 77 | | located. |
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78 | 78 | | 31-8-110. Notice, delivery, acceptance, consideration not required. |
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79 | 79 | | A transfer on death deed is effective without: |
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80 | 80 | | (1) Notice or delivery to, or acceptance by, the designated beneficiary |
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81 | 81 | | during the transferor's life; or |
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82 | 82 | | (2) Consideration. |
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83 | 83 | | 31-8-111. Revocation by instrument authorized – Revocation by act not permitted. |
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84 | 84 | | (a) Subject to subsection (b), an instrument is effective to revoke a recorded |
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85 | 85 | | transfer on death deed, or any part of it, only if the instrument: |
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86 | 86 | | (1) Is one (1) of the following: |
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87 | 87 | | (A) A transfer on death deed that revokes the deed or part of the |
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88 | 88 | | deed expressly or by inconsistency; |
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89 | 89 | | (B) An instrument of revocation that expressly revokes the deed |
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90 | 90 | | or part of the deed; or |
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91 | 91 | | (C) An inter vivos deed that expressly revokes the transfer on |
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92 | 92 | | death deed or part of the deed; and |
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93 | 93 | | |
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94 | 94 | | |
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95 | 95 | | - 4 - 000497 |
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96 | 96 | | |
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97 | 97 | | (2) Is acknowledged by the transferor after the acknowledgment of the |
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98 | 98 | | deed being revoked and recorded before the transferor's death in the public |
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99 | 99 | | records in the office of the county register of deeds of the county where the deed |
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100 | 100 | | is recorded. |
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101 | 101 | | (b) If a transfer on death deed is made by more than one (1) transferor: |
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102 | 102 | | (1) Revocation by a transferor does not affect the deed as to the interest |
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103 | 103 | | of another transferor; and |
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104 | 104 | | (2) A deed of joint owners is revoked only if it is revoked by all of the |
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105 | 105 | | living joint owners. |
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106 | 106 | | (c) After a transfer on death deed is recorded, it may not be revoked by a |
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107 | 107 | | revocatory act on the deed. |
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108 | 108 | | (d) This section does not limit the effect of an inter vivos transfer of the property. |
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109 | 109 | | 31-8-112. Effect of transfer on death deed during transferor's life. |
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110 | 110 | | During a transferor’s life, a transfer on death deed does not: |
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111 | 111 | | (1) Affect an interest or right of the transferor or any other owner, |
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112 | 112 | | including the right to transfer or encumber the property; |
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113 | 113 | | (2) Affect an interest or right of a transferee, even if the transferee has |
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114 | 114 | | actual or constructive notice of the deed; |
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115 | 115 | | (3) Affect an interest or right of a secured or unsecured creditor or future |
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116 | 116 | | creditor of the transferor, even if the creditor has actual or constructive notice of |
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117 | 117 | | the deed; |
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118 | 118 | | (4) Affect the transferor's or designated beneficiary's eligibility for any |
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119 | 119 | | form of public assistance unless required by federal law; |
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120 | 120 | | (5) Create a legal or equitable interest in favor of the designated |
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121 | 121 | | beneficiary; or |
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122 | 122 | | |
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123 | 123 | | |
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124 | 124 | | - 5 - 000497 |
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125 | 125 | | |
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126 | 126 | | (6) Subject the property to claims or process of a creditor of the |
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127 | 127 | | designated beneficiary. |
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128 | 128 | | 31-8-113. Effect of transfer on death deed at transferor's death. |
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129 | 129 | | (a) Except as otherwise provided in the transfer on death deed, this section; § |
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130 | 130 | | 32-3-104; § 31-1-102; § 31-1-106; or chapter 3 or 4 of this title, upon the death of the |
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131 | 131 | | transferor, the following rules apply to property that is the subject of a transfer on death |
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132 | 132 | | deed and owned by the transferor at death: |
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133 | 133 | | (1) Subject to subdivision (a)(2), the interest in the property is transferred |
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134 | 134 | | to and vests in the designated beneficiary in accordance with the deed; |
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135 | 135 | | (2) The interest of a designated beneficiary is contingent on the |
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136 | 136 | | designated beneficiary surviving the transferor. The interest of a designated |
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137 | 137 | | beneficiary that fails to survive the transferor lapses; |
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138 | 138 | | (3) Subject to subdivision (a)(4), concurrent interests are transferred to |
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139 | 139 | | the beneficiaries in equal and undivided shares with no right of survivorship; and |
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140 | 140 | | (4) If the transferor has identified two (2) or more designated |
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141 | 141 | | beneficiaries to receive concurrent interests in the property, the share of one (1) |
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142 | 142 | | that lapses or fails for any reason is transferred to the other, or to the others in |
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143 | 143 | | proportion to the interest of each in the remaining part of the property held |
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144 | 144 | | concurrently. |
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145 | 145 | | (b) Subject to §§ 66-5-106; 66-26-101; and title 66, chapter 24, a beneficiary |
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146 | 146 | | takes the property subject to all conveyances, encumbrances, assignments, contracts, |
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147 | 147 | | mortgages, liens, claims of the bureau of TennCare or successor entity for medical |
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148 | 148 | | assistance, and other interests to which the property is subject at the transferor's death. |
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149 | 149 | | For purposes of this title and title 66, the recording of the transfer on death deed is |
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150 | 150 | | deemed to have occurred at the transferor's death. |
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151 | 151 | | |
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152 | 152 | | |
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153 | 153 | | - 6 - 000497 |
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154 | 154 | | |
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155 | 155 | | (c) If a transferor is a joint owner and is: |
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156 | 156 | | (1) Survived by one (1) or more other joint owners, then the property that |
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157 | 157 | | is the subject of a transfer on death deed belongs to the surviving joint owner or |
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158 | 158 | | owners with right of survivorship; or |
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159 | 159 | | (2) The last surviving joint owner, then the transfer on death deed is |
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160 | 160 | | effective. |
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161 | 161 | | (d) A transfer on death deed transfers property without covenant or warranty of |
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162 | 162 | | title even if the deed contains a contrary provision. |
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163 | 163 | | 31-8-114. Disclaimer. |
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164 | 164 | | A beneficiary may disclaim all or part of the beneficiary's interest as provided in |
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165 | 165 | | the Tennessee Disclaimer of Property Interests Act, compiled in chapter 7 of this title. |
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166 | 166 | | 31-8-115. Delivery or filing. |
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167 | 167 | | (a) As used in this section, "beneficiary designation" means an instrument, other |
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168 | 168 | | than an instrument creating a trust, naming the beneficiary of: |
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169 | 169 | | (1) An annuity or insurance policy; |
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170 | 170 | | (2) An account with a designation for payment on death; |
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171 | 171 | | (3) A security registered in beneficiary form; |
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172 | 172 | | (4) A pension, profit-sharing, retirement, or other employment-related |
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173 | 173 | | benefit plan; or |
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174 | 174 | | (5) Any other nonprobate transfer at death. |
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175 | 175 | | (b) Subject to subsections (c)-(l), delivery of a disclaimer may be effected by |
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176 | 176 | | personal delivery, first-class mail, or any other method likely to result in its receipt. |
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177 | 177 | | (c) In the case of an interest created under the law of intestate succession or an |
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178 | 178 | | interest created by will, other than an interest in a testamentary trust: |
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179 | 179 | | |
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180 | 180 | | |
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181 | 181 | | - 7 - 000497 |
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182 | 182 | | |
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183 | 183 | | (1) A disclaimer must be delivered to the personal representative of the |
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184 | 184 | | decedent's estate; or |
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185 | 185 | | (2) If no personal representative is then serving, it must be filed with a |
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186 | 186 | | court having jurisdiction to appoint the personal representative. |
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187 | 187 | | (d) In the case of an interest in a testamentary trust: |
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188 | 188 | | (1) A disclaimer must be delivered to the trustee then serving, or if no |
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189 | 189 | | trustee is then serving, to the personal representative of the decedent's estate; or |
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190 | 190 | | (2) If no personal representative is then serving, it must be filed with a |
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191 | 191 | | court having jurisdiction to enforce the trust. |
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192 | 192 | | (e) In the case of an interest in an inter vivos trust: |
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193 | 193 | | (1) A disclaimer must be delivered to the trustee then serving; |
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194 | 194 | | (2) If no trustee is then serving, it must be filed with a court having |
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195 | 195 | | jurisdiction to enforce the trust; or |
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196 | 196 | | (3) If the disclaimer is made before the time the instrument creating the |
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197 | 197 | | trust becomes irrevocable, it must be delivered to the settlor of a revocable trust |
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198 | 198 | | or the transferor of the interest. |
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199 | 199 | | (f) In the case of an interest created by a beneficiary designation that is |
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200 | 200 | | disclaimed before the designation becomes irrevocable, the disclaimer must be |
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201 | 201 | | delivered to the person making the beneficiary designation. |
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202 | 202 | | (g) In the case of an interest created by a beneficiary designation that is |
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203 | 203 | | disclaimed after the designation becomes irrevocable: |
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204 | 204 | | (1) The disclaimer of an interest in personal property must be delivered |
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205 | 205 | | to the person obligated to distribute the interest; and |
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206 | 206 | | |
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207 | 207 | | |
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208 | 208 | | - 8 - 000497 |
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209 | 209 | | |
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210 | 210 | | (2) The disclaimer of an interest in real property must be recorded in the |
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211 | 211 | | office of the county register of deeds of the county where the real property that is |
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212 | 212 | | the subject of the disclaimer is located. |
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213 | 213 | | (h) In the case of a disclaimer by a surviving holder of jointly held property, the |
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214 | 214 | | disclaimer must be delivered to the person to whom the disclaimed interest passes. |
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215 | 215 | | (i) In the case of a disclaimer by an object or taker in default of exercise of a |
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216 | 216 | | power of appointment at any time after the power was created: |
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217 | 217 | | (1) The disclaimer must be delivered to the holder of the power or to the |
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218 | 218 | | fiduciary acting under the instrument that created the power; or |
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219 | 219 | | (2) If no fiduciary is then serving, it must be filed with a court having |
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220 | 220 | | authority to appoint the fiduciary. |
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221 | 221 | | (j) In the case of a disclaimer by an appointee of a nonfiduciary power of |
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222 | 222 | | appointment: |
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223 | 223 | | (1) The disclaimer must be delivered to the holder, the personal |
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224 | 224 | | representative of the holder's estate, or the fiduciary under the instrument that |
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225 | 225 | | created the power; or |
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226 | 226 | | (2) If no fiduciary is then serving, it must be filed with a court having |
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227 | 227 | | authority to appoint the fiduciary. |
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228 | 228 | | (k) In the case of a disclaimer by a fiduciary of a power over a trust or estate, the |
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229 | 229 | | disclaimer must be delivered as provided in subsection (c), (d), or (e), as if the power |
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230 | 230 | | disclaimed were an interest in property. |
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231 | 231 | | (l) In the case of a disclaimer of a power by an agent, the disclaimer must be |
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232 | 232 | | delivered to the principal or the principal's representative. |
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233 | 233 | | 31-8-116. Recording of disclaimer. |
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234 | 234 | | |
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235 | 235 | | |
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236 | 236 | | - 9 - 000497 |
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237 | 237 | | |
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238 | 238 | | If an instrument transferring an interest in or power over property subject to a |
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239 | 239 | | disclaimer is required or permitted by law to be filed, recorded, or registered, then the |
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240 | 240 | | disclaimer may be so filed, recorded, or registered. Except as otherwise provided in § |
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241 | 241 | | 31-8-115(g)(2), failure to file, record, or register the disclaimer does not affect its validity |
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242 | 242 | | as between the disclaimant and persons to whom the property interest or power passes |
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243 | 243 | | by reason of the disclaimer. |
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244 | 244 | | 31-8-117. Liability for creditor claims and statutory allowances. |
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245 | 245 | | (a) To the extent the transferor's probate estate is insufficient to satisfy an |
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246 | 246 | | allowed claim against the estate or a statutory allowance to a surviving spouse or child, |
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247 | 247 | | the estate or any creditor may enforce the liability against property transferred at the |
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248 | 248 | | transferor's death by a transfer on death deed. |
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249 | 249 | | (b) If more than one (1) property is transferred by one (1) or more transfer on |
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250 | 250 | | death deeds, then the liability under subsection (a) is apportioned among the properties |
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251 | 251 | | in proportion to their net values at the transferor's death. |
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252 | 252 | | (c) A proceeding to enforce the liability under this section must be commenced |
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253 | 253 | | not later than eighteen (18) months after the transferor's death. |
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254 | 254 | | 31-8-118. Form of transfer on death deed. |
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255 | 255 | | The following form may be used to create a transfer on death deed; provided, |
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256 | 256 | | however, the other sections of this chapter govern the effect of this or any other |
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257 | 257 | | instrument used to create a transfer on death deed: |
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258 | 258 | | (front of form) |
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259 | 259 | | REVOCABLE TRANSFER ON DEATH DEED |
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260 | 260 | | NOTICE TO OWNER |
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261 | 261 | | |
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262 | 262 | | |
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263 | 263 | | - 10 - 000497 |
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264 | 264 | | |
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265 | 265 | | This deed will transfer ownership of the property described below when you die. |
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266 | 266 | | You should carefully read all of the information on this form. You should consult a |
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267 | 267 | | lawyer before using this form. |
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268 | 268 | | This form must be recorded with the register of deeds before your death, or it will |
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269 | 269 | | not be effective. Any change to this deed must also be recorded to be effective. |
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270 | 270 | | |
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271 | 271 | | IDENTIFYING INFORMATION |
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272 | 272 | | Owner or Owners Making This Deed: |
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273 | 273 | | ___________________________ ______________________________ |
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274 | 274 | | Printed name Mailing address |
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275 | 275 | | ___________________________ |
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276 | 276 | | Marital status |
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277 | 277 | | ___________________________ ______________________________ |
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278 | 278 | | Printed name Mailing address |
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279 | 279 | | ___________________________ |
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280 | 280 | | Marital status |
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281 | 281 | | Legal description of the property: |
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282 | 282 | | ____________________________________________________________ |
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283 | 283 | | |
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284 | 284 | | PRIMARY BENEFICIARY |
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285 | 285 | | I designate the following beneficiary if the beneficiary survives me. |
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286 | 286 | | ___________________________ _______________________________ |
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287 | 287 | | Printed name Mailing address, if available |
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288 | 288 | | |
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289 | 289 | | ALTERNATE BENEFICIARY – Optional |
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290 | 290 | | If my primary beneficiary does not survive me, I designate the following alternate |
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291 | 291 | | beneficiary if that beneficiary survives me. |
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292 | 292 | | ___________________________ _______________________________ |
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293 | 293 | | |
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294 | 294 | | |
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295 | 295 | | - 11 - 000497 |
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296 | 296 | | |
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297 | 297 | | Printed name Mailing address, if available |
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298 | 298 | | |
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299 | 299 | | TRANSFER ON DEATH |
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300 | 300 | | At my death, I transfer my interest in the described property to the beneficiaries |
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301 | 301 | | as designated above. |
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302 | 302 | | Before my death, I have the right to revoke this deed. |
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303 | 303 | | |
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304 | 304 | | SIGNATURE OF OWNER OR OWNERS MAKING THIS DEED |
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305 | 305 | | _______________________________ __________________________ |
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306 | 306 | | Signature Date |
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307 | 307 | | |
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308 | 308 | | _______________________________ __________________________ |
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309 | 309 | | Signature Date |
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310 | 310 | | |
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311 | 311 | | State of Tennessee |
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312 | 312 | | County of _______________ |
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313 | 313 | | |
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314 | 314 | | Personally appeared before me, ___________, a notary public in and for the state and |
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315 | 315 | | county aforesaid, ______________________, the within named person(s), with whom I |
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316 | 316 | | am personally acquainted or proved to me on the basis of satisfactory evidence, and |
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317 | 317 | | who acknowledged that such person was the one who executed the foregoing |
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318 | 318 | | instrument for the purposes therein contained. |
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319 | 319 | | WITNESS my hand and seal at office, on this _____ day of _________________, 20__ |
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320 | 320 | | __________________________________ |
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321 | 321 | | Notary Public |
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322 | 322 | | My Commission Expires: |
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323 | 323 | | ___________________________ |
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324 | 324 | | |
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325 | 325 | | |
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326 | 326 | | - 12 - 000497 |
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327 | 327 | | |
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328 | 328 | | |
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329 | 329 | | (back of form) |
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330 | 330 | | COMMON QUESTIONS ABOUT THE USE OF THIS FORM |
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331 | 331 | | What does the Transfer on Death (TOD) deed do? When you die, this deed |
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332 | 332 | | transfers the described property, subject to any liens or mortgages (or other |
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333 | 333 | | encumbrances) on the property at your death. Probate is not required. The TOD deed |
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334 | 334 | | has no effect until you die. You can revoke it at any time. You are also free to transfer |
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335 | 335 | | the property to someone else during your lifetime. If you do not own any interest in the |
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336 | 336 | | property when you die, this deed will have no effect. |
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337 | 337 | | How do I make a TOD deed? Complete this form. Have it acknowledged before |
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338 | 338 | | a notary public or other individual authorized by law to take acknowledgments. Record |
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339 | 339 | | the form in each county where any part of the property is located. The form has no |
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340 | 340 | | effect unless it is acknowledged and recorded before your death. |
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341 | 341 | | Is the "legal description" of the property necessary? Yes. |
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342 | 342 | | How do I find the "legal description" of the property? This information may be on |
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343 | 343 | | the deed you received when you became an owner of the property. This information |
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344 | 344 | | may also be available in the office of the register of deeds for the county where the |
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345 | 345 | | property is located. If you are not absolutely sure, consult a lawyer. |
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346 | 346 | | Can I change my mind before I record the TOD deed? Yes. If you have not yet |
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347 | 347 | | recorded the deed and want to change your mind, simply tear up or otherwise destroy |
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348 | 348 | | the deed. |
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349 | 349 | | How do I "record" the TOD deed? Take the completed and acknowledged form |
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350 | 350 | | to the office of the register of deeds of the county where the property is located. Follow |
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351 | 351 | | the instructions given by the register of deeds to make the form part of the official |
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352 | 352 | | |
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353 | 353 | | |
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354 | 354 | | - 13 - 000497 |
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355 | 355 | | |
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356 | 356 | | property records. If the property is in more than one county, you need to record the |
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357 | 357 | | deed in each county. |
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358 | 358 | | Can I later revoke the TOD deed if I change my mind? Yes. You can revoke the |
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359 | 359 | | TOD deed. No one, including the beneficiaries, can prevent you from revoking the deed. |
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360 | 360 | | How do I revoke the TOD deed after it is recorded? There are three ways to |
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361 | 361 | | revoke a recorded TOD deed: (1) Complete and acknowledge a revocation form, and |
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362 | 362 | | record it in each county where the property is located; (2) Complete and acknowledge a |
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363 | 363 | | new TOD deed that disposes of the same property, and record it in each county where |
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364 | 364 | | the property is located; or (3) Transfer the property to someone else during your lifetime |
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365 | 365 | | by a recorded deed that expressly revokes the TOD deed. You may not revoke the TOD |
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366 | 366 | | deed by will. |
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367 | 367 | | I am being pressured to complete this form. What should I do? Do not complete |
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368 | 368 | | this form under pressure. Seek help from a trusted family member, friend, or lawyer. |
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369 | 369 | | Do I need to tell the beneficiaries about the TOD deed? No, but it is |
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370 | 370 | | recommended. Secrecy can cause later complications and might make it easier for |
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371 | 371 | | others to commit fraud. |
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372 | 372 | | I have other questions about this form. What should I do? This form is designed |
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373 | 373 | | to fit some but not all situations. If you have other questions, you are encouraged to |
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374 | 374 | | consult a lawyer. |
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375 | 375 | | 31-8-119. Optional form of revocation. |
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376 | 376 | | The following form may be used to create an instrument of revocation under this |
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377 | 377 | | chapter; provided, however, the other sections of this chapter govern the effect of this or |
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378 | 378 | | any other instrument used to revoke a transfer on death deed: |
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379 | 379 | | (front of form) |
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380 | 380 | | REVOCATION OF TRANSFER ON DEATH DEED |
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381 | 381 | | |
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382 | 382 | | |
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383 | 383 | | - 14 - 000497 |
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384 | 384 | | |
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385 | 385 | | NOTICE TO OWNER |
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386 | 386 | | This revocation must be recorded with the register of deeds before your death, or |
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387 | 387 | | it will not be effective. This revocation is effective only as to the interests in the property |
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388 | 388 | | of owners who sign this revocation. |
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389 | 389 | | |
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390 | 390 | | IDENTIFYING INFORMATION |
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391 | 391 | | Owner or Owners of Property Making This Revocation: |
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392 | 392 | | ___________________________ ______________________________ |
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393 | 393 | | Printed name Mailing address |
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394 | 394 | | __________________________ |
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395 | 395 | | Marital status |
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396 | 396 | | ___________________________ ______________________________ |
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397 | 397 | | Printed name Mailing address |
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398 | 398 | | __________________________ |
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399 | 399 | | Marital status |
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400 | 400 | | Legal description of the property: |
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401 | 401 | | ____________________________________________________________ |
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402 | 402 | | |
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403 | 403 | | REVOCATION |
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404 | 404 | | I revoke all my previous transfers of the property by transfer on death deed. |
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405 | 405 | | |
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406 | 406 | | SIGNATURE OF OWNER OR OWNERS MAKING THIS REVOCATION |
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407 | 407 | | _______________________________ ________________________ |
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408 | 408 | | Signature Date |
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409 | 409 | | |
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410 | 410 | | _______________________________ ________________________ |
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411 | 411 | | Signature Date |
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412 | 412 | | |
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413 | 413 | | |
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414 | 414 | | |
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415 | 415 | | - 15 - 000497 |
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416 | 416 | | |
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417 | 417 | | State of Tennessee |
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418 | 418 | | County of _______________ |
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419 | 419 | | |
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420 | 420 | | Personally appeared before me, ___________, a notary public in and for the state and |
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421 | 421 | | county aforesaid, ______________________, the within named person(s), with whom I |
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422 | 422 | | am personally acquainted or proved to me on the basis of satisfactory evidence, and |
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423 | 423 | | who acknowledged that such person was the one who executed the foregoing |
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424 | 424 | | instrument for the purposes therein contained. |
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425 | 425 | | WITNESS my hand and seal at office, on this ______ day of ________________, 20__. |
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426 | 426 | | ___________________________________ |
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427 | 427 | | Notary Public |
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428 | 428 | | My Commission Expires: |
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429 | 429 | | ___________________________ |
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430 | 430 | | |
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431 | 431 | | (back of form) |
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432 | 432 | | COMMON QUESTIONS ABOUT THE USE O F THIS FORM |
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433 | 433 | | How do I use this form to revoke a Transfer on Death (TOD) deed? Complete this form. |
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434 | 434 | | Have it acknowledged before a notary public or other individual authorized to take |
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435 | 435 | | acknowledgments. Record the form in the public records in the office of the register of deeds of |
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436 | 436 | | each county where the property is located. The form must be acknowledged and recorded |
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437 | 437 | | before your death or it has no effect. |
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438 | 438 | | How do I find the "legal description" of the property? This information may be on the |
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439 | 439 | | TOD deed. It may also be available in the office of the register of deeds for the county where |
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440 | 440 | | the property is located. If you are not absolutely sure, consult a lawyer. |
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441 | 441 | | How do I "record" the form? Take the completed and acknowledged form to the office of |
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442 | 442 | | the register of deeds of the county where the property is located. Follow the instructions given |
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443 | 443 | | |
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444 | 444 | | |
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445 | 445 | | - 16 - 000497 |
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446 | 446 | | |
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447 | 447 | | by the register of deeds to make the form part of the official property records. If the property is |
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448 | 448 | | located in more than one county, you need to record the form in each of those counties. |
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449 | 449 | | I am being pressured to complete this form. What should I do? Do not complete this |
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450 | 450 | | form under pressure. Seek help from a trusted family member, friend, or lawyer. |
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451 | 451 | | I have other questions about this form. What should I do? This form is designed to fit |
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452 | 452 | | some but not all situations. If you have other questions, consult a lawyer. |
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453 | 453 | | 31-8-120. Uniformity of application and construction. |
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454 | 454 | | In applying and construing this uniform act, consideration must be given to the |
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455 | 455 | | need to promote uniformity of the law with respect to its subject matter among the states |
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456 | 456 | | that enact it. |
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457 | 457 | | 31-8-121. Relation to electronic signatures in global and national commerce act. |
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458 | 458 | | This chapter modifies, limits, and supersedes the federal Electronic Signatures in |
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459 | 459 | | Global and National Commerce Act (15 U.S.C. § 7001, et seq.), but does not modify, |
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460 | 460 | | limit, or supersede § 101(c) of that act (15 U.S.C. § 7001(c)), or authorize electronic |
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461 | 461 | | delivery of any of the notices described in § 103(b) of that act (15 U.S.C. § 7003(b)). |
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462 | 462 | | SECTION 2. Tennessee Code Annotated, Section 31-7-112(a), is amended by adding |
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463 | 463 | | the following as a new subdivision (5) and redesignating existing subdivision (5) accordingly: |
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464 | 464 | | (5) A transfer on death deed; or |
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465 | 465 | | SECTION 3. Tennessee Code Annotated, Section 55-3-118, is amended by adding the |
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466 | 466 | | following as a new subsection: |
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467 | 467 | | (e) |
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468 | 468 | | (1) An owner may provide for the transfer of title to a motor vehicle upon |
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469 | 469 | | the owner's death by including in the certificate of title a designation of a |
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470 | 470 | | beneficiary to whom the motor vehicle must be transferred upon the death of the |
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471 | 471 | | owner, subject to the rights of all lienholders. A trust may be a designated |
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472 | 472 | | |
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473 | 473 | | |
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474 | 474 | | - 17 - 000497 |
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475 | 475 | | |
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476 | 476 | | beneficiary. If a motor vehicle is jointly owned by two (2) or more persons, then |
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477 | 477 | | ownership of the motor vehicle must not vest in the designated beneficiary until |
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478 | 478 | | the death of the last owner, subject to the rights of all lienholders. |
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479 | 479 | | (2) When a motor vehicle is jointly owned by two (2) or more persons, the |
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480 | 480 | | signatures of all owners must be required to designate a beneficiary. Only one |
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481 | 481 | | (1) party's signature is required to designate a beneficiary if the title is registered |
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482 | 482 | | in the name of one (1) spouse or where the conjunction between the names on |
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483 | 483 | | the title is "or." |
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484 | 484 | | (3) A transfer on death certificate of title must include after the name of |
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485 | 485 | | the owner, or owners, the words "transfer on death to" or the abbreviation "TOD" |
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486 | 486 | | followed by the name of the beneficiary. |
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487 | 487 | | (4) A beneficiary designation may be changed at any time without the |
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488 | 488 | | consent of a beneficiary with the filing of an application for a subsequent transfer |
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489 | 489 | | on death certificate of title and payment of the fee provided in § 55-6-101(a)(4). |
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490 | 490 | | Upon issuance of any subsequent certificate of title pursuant to this subsection |
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491 | 491 | | (e), the previous certificate that was issued is void. |
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492 | 492 | | SECTION 4. Tennessee Code Annotated, Section 55-6-101(a)(4), is amended by |
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493 | 493 | | deleting "destroyed certificate," and substituting "destroyed certificate or a subsequent transfer |
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494 | 494 | | on death certificate of title pursuant to § 55-3-118(e),". |
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495 | 495 | | SECTION 5. Tennessee Code Annotated, Section 66-24-101(a)(12), is amended by |
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496 | 496 | | adding ", including transfer on death deeds" immediately after "description". |
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497 | 497 | | SECTION 6. The headings in this act are for reference purposes only and do not |
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498 | 498 | | constitute a part of the law enacted by this act. However, the Tennessee Code Commission is |
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499 | 499 | | requested to include the headings in any compilation or publication containing this act. |
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500 | 500 | | |
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501 | 501 | | |
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502 | 502 | | - 18 - 000497 |
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503 | 503 | | |
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504 | 504 | | SECTION 7. For purposes of preparing forms or promulgating rules, this act takes effect |
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505 | 505 | | upon becoming a law, the public welfare requiring it. For all other purposes, this act takes effect |
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506 | 506 | | July 1, 2025, the public welfare requiring it, and applies to transfer on death deeds or certificates |
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507 | 507 | | of title with a designated beneficiary made before, on, or after July 1, 2025, and by a transferor |
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508 | 508 | | or motor vehicle owner dying on or after July 1, 2025. |
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