Texas 2017 - 85th Regular

Texas House Bill HB3121 Compare Versions

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1	1	85R5473 CLG-F
2	2	By: Farrar H.B. No. 3121
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to a revocable deed that transfers real property at the
8	8	transferor's death.
9	9	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
10	10	SECTION 1. Section 114.103(a), Estates Code, is amended to
11	11	read as follows:
12	12	(a) Except as otherwise provided in the transfer on death
13	13	deed, this section, or any other statute or the common law of this
14	14	state governing a decedent's estate, on the death of the
15	15	transferor, the following rules apply to an interest in real
16	16	property that is the subject of a transfer on death deed and owned
17	17	by the transferor at death:
18	18	(1) if the designated beneficiary survives the
19	19	transferor by 120 hours, the interest in the real property is
20	20	transferred to the designated beneficiary in accordance with the
21	21	deed;
22	22	(2) the share [interest] of any [a] designated
23	23	beneficiary that fails to survive the transferor by 120 hours
24	24	lapses, notwithstanding Section 111.052, and is subject to and
25	25	passes in accordance with Subchapter D, Chapter 255, as if the
26	26	transfer on death deed were a devise made in a will; and
27	27	(3) subject to Subdivision (2) [(4)], concurrent
28	28	interests are transferred to the beneficiaries in equal and
29	29	undivided shares with no right of survivorship[; and
30	30	[(4) notwithstanding Subdivision (2), if the
31	31	transferor has identified two or more designated beneficiaries to
32	32	receive concurrent interests in the real property, the share of a
33	33	designated beneficiary who predeceases the transferor lapses and is
34	34	subject to and passes in accordance with Subchapter D, Chapter 255,
35	35	as if the transfer on death deed were a devise made in a will].
36	36	SECTION 2. Section 114.151, Estates Code, is amended to
37	37	read as follows:
38	38	Sec. 114.151. OPTIONAL FORM FOR TRANSFER ON DEATH DEED. The
39	39	following form may be used to create a transfer on death deed.
40	40	REVOCABLE TRANSFER ON DEATH DEED
41	41	NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU
42	42	MAY REMOVE OR STRIKE ANY OF THE FOLLOWING INFORMATION FROM THIS
43	43	INSTRUMENT BEFORE IT IS FILED FOR RECORD IN THE PUBLIC
44	44	RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LICENSE
45	45	NUMBER.
46	46	IMPORTANT NOTICE TO OWNER: You should carefully read all the
47	47	information included in the instructions to this form. You may want
48	48	to consult a lawyer before using this form.
49	49	MUST RECORD DEED: Before your death, this deed must be recorded
50	50	with the county clerk where the property is located, or it will not
51	51	be effective.
52	52	MARRIED PERSONS: If you are married and want your spouse to own the
53	53	property on your death, you must name your spouse as the primary
54	54	beneficiary. If your spouse does not survive you, the property
55	55	will transfer to any listed alternate beneficiary or beneficiaries
56	56	on your death.
57	57	1. Owner (Transferor) Making this Deed:
58	58	___________________________ ____________________
59	59	Printed name Mailing address
60	60	2. Legal Description of the Property:
61	61	___________________________________________________
62	62	3. Address of the Property (if any) (include county):
63	63	___________________________________________________
64	64	4. Primary Beneficiary (Transferee) or Beneficiaries
65	65	(Transferees)
66	66	I designate the following beneficiary or beneficiaries, if
67	67	the beneficiary survives me:
68	68	___________________________ ____________________
69	69	Printed name Mailing address
70	70	5. Alternate Beneficiary or Beneficiaries (Optional)
71	71	[If no primary beneficiary survives me,] I designate the
72	72	following alternate beneficiary or beneficiaries, if the alternate
73	73	beneficiary survives me:
74	74	___________________________ ____________________
75	75	Printed name Mailing address
76	76	6. Transfer on Death: (Choose an option under both A and B below,
77	77	and if you have designated any alternate beneficiaries, choose an
78	78	option under C.)
79	79	At my death, I grant and convey to the primary beneficiary or
80	80	beneficiaries my interest in the property, to have and hold
81	81	forever. [If at my death I am not survived by any primary
82	82	beneficiary, I grant and convey to the alternate beneficiary or
83	83	beneficiaries, if designated, my interest in the property, to have
84	84	and hold forever. If the primary and alternate beneficiaries do not
85	85	survive me, this transfer on death deed shall be deemed canceled by
86	86	me.]
87	87	A. IF AT LEAST ONE PRIMARY BENEFICIARY SURVIVES ME
88	88	(Select either option (1) or (2) by placing your initials next to
89	89	the option chosen. If you do not choose an option, then option (1),
90	90	which is the anti-lapse election, will apply.)
91	91	If at least one primary beneficiary survives me, I grant and
92	92	convey the primary beneficiaries' share or shares of the property,
93	93	to have and hold forever, as follows:
94	94	____ (1) Anti-Lapse Election. To the surviving primary
95	95	beneficiary or beneficiaries, but if a deceased primary
96	96	beneficiary, if any, was a child or other descendant of mine or of
97	97	one or both of my parents, that deceased primary beneficiary's
98	98	share will pass to the surviving children or other descendants of
99	99	that deceased primary beneficiary.
100	100	____ (2) Surviving Primary Beneficiaries Election. To the
101	101	surviving primary beneficiary or beneficiaries only. If a deceased
102	102	primary beneficiary, if any, was a child or other descendant of mine
103	103	or of one or both of my parents, I do not want that deceased primary
104	104	beneficiary's share to pass to the children or other descendants of
105	105	that deceased primary beneficiary.
106	106	B. IF NO PRIMARY BENEFICIARY SURVIVES ME
107	107	(Select either option (1) or (2) by placing your initials next to
108	108	the option chosen. If you do not choose an option, then option (1),
109	109	which is the anti-lapse election, will apply.)
110	110	If no primary beneficiary survives me, I grant and convey the
111	111	share of the property that would have transferred to a deceased
112	112	primary beneficiary, to have and hold forever, as follows:
113	113	____ (1) Anti-Lapse Election. To the surviving children or
114	114	other descendants of the deceased primary beneficiary, if the
115	115	deceased primary beneficiary was a child or other descendant of
116	116	mine or of one or both of my parents.
117	117	____ (2) Surviving Alternate Beneficiaries Election. To
118	118	the alternate beneficiary or beneficiaries designated above. If
119	119	the deceased primary beneficiary was a child or other descendant of
120	120	mine or of one or both of my parents, I do not want that deceased
121	121	primary beneficiary's share to pass to the children or other
122	122	descendants of that deceased primary beneficiary.
123	123	If no primary beneficiary survives me and the anti-lapse
124	124	election is not chosen or that election is chosen, but a deceased
125	125	primary beneficiary is not a child or other descendant of mine or of
126	126	one or both of my parents, I grant and convey to the alternate
127	127	beneficiary or beneficiaries my share in the property that
128	128	otherwise would have transferred to the deceased primary
129	129	beneficiary, to have and hold forever. If I have not designated
130	130	alternate beneficiaries, this transfer on death deed shall be
131	131	considered cancelled by me.
132	132	C. IF AN ALTERNATE BENEFICIARY DOES NOT SURVIVE ME
133	133	(Select either option (1) or (2) by placing your initials next to
134	134	the option chosen. If you do not choose an option, then option (1),
135	135	which is the anti-lapse election, will apply.)
136	136	If an alternate beneficiary does not survive me, I grant and
137	137	convey that alternate beneficiary's share of the property as
138	138	follows:
139	139	____ (1) Anti-Lapse Election. To the surviving alternate
140	140	beneficiary or beneficiaries, but if the deceased alternate
141	141	beneficiary was a child or other descendant of mine or of one or
142	142	both of my parents, that deceased alternate beneficiary's share
143	143	will pass to the surviving children or other descendants of that
144	144	deceased alternate beneficiary.
145	145	____ (2) Surviving Alternate Beneficiaries Election. To
146	146	the surviving alternate beneficiary or beneficiaries only. If the
147	147	deceased alternate beneficiary was a child or other descendant of
148	148	mine or of one or both of my parents, I do not want that deceased
149	149	alternate beneficiary's share to pass to the children or other
150	150	descendants of that deceased alternate beneficiary.
151	151	If no alternate beneficiary survives me and the anti-lapse
152	152	election is not chosen or that election is chosen, but no deceased
153	153	alternate beneficiary was a child or other descendant of mine or of
154	154	one or both of my parents, this transfer on death deed shall be
155	155	considered cancelled by me.
156	156	7. Printed Name and Signature of Owner Making this Deed:
157	157	___________________________ ____________________
158	158	Printed Name Date
159	159	___________________________
160	160	Signature
161	161	BELOW LINE FOR NOTARY ONLY
162	162	Acknowledgment
163	163	STATE OF ____________________
164	164	COUNTY OF ___________________
165	165	This instrument was acknowledged before me on the ______ day of
166	166	______________, 20____,
167	167	by ___________________.
168	168	Notary Public, State of
169	169	After recording, return to:
170	170	(insert name and mailing address)
171	171	________________________________
172	172	________________________________
173	173	INSTRUCTIONS FOR TRANSFER ON DEATH DEED
174	174	DO NOT RECORD THESE INSTRUCTIONS
175	175	Instructions for Completing the Form
176	176	1. Owner (Transferor) Making this Deed: Enter your first, middle
177	177	(if any), and last name here, along with your mailing address.
178	178	2. Legal Description of the Property: Enter the formal legal
179	179	description of the property. This information is different from
180	180	the mailing and physical address for the property and is necessary
181	181	to complete the form. To find this information, look on the deed
182	182	you received when you became an owner of the property. This
183	183	information may also be available in the office of the county clerk
184	184	for the county where the property is located. Do NOT use your tax
185	185	bill to find this information. If you are not absolutely sure,
186	186	consult a lawyer.
187	187	3. Address of the Property: Enter the physical address of the
188	188	property.
189	189	4. Primary Beneficiary or Beneficiaries: Enter the first and
190	190	last name of each person you want to get the property when you die.
191	191	If you are married and want your spouse to get the property when you
192	192	die, enter your spouse's first and last name (even if you and your
193	193	spouse own the property together).
194	194	5. Alternate Beneficiary or Beneficiaries: Enter the first and
195	195	last name of each person you want to get the property if no primary
196	196	beneficiary survives you.
197	197	6. Transfer on Death: You should carefully read the language
198	198	describing the options and choose an option under both A and B of
199	199	Paragraph 6, and if you have listed any alternate beneficiaries,
200	200	choose an option under C of Paragraph 6 [No action needed].
201	201	7. Printed Name and Signature of Owner: Do not sign your name or
202	202	enter the date until you are before a notary. Include your printed
203	203	name.
204	204	8. Acknowledgment: This deed must be signed before a notary. The
205	205	notary will fill out this section of the deed.
206	206	SECTION 3. The changes in law made by this Act apply to a
207	207	transfer on death deed executed and acknowledged on or after the
208	208	effective date of this Act. A transfer on death deed executed and
209	209	acknowledged before the effective date of this Act is governed by
210	210	the law in effect on the date the transfer on death deed was
211	211	executed and acknowledged, and the former law is continued in
212	212	effect for that purpose.
213	213	SECTION 4. This Act takes effect September 1, 2017.