Bill Text: TX HB3121 | 2017-2018 | 85th Legislature | Introduced
Bill Title: Relating to a revocable deed that transfers real property at the transferor's death.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2017-05-11 - Placed on General State Calendar [HB3121 Detail]
Download: Texas-2017-HB3121-Introduced.html
85R5473 CLG-F | ||
By: Farrar | H.B. No. 3121 |
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relating to a revocable deed that transfers real property at the | ||
transferor's death. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 114.103(a), Estates Code, is amended to | ||
read as follows: | ||
(a) Except as otherwise provided in the transfer on death | ||
deed, this section, or any other statute or the common law of this | ||
state governing a decedent's estate, on the death of the | ||
transferor, the following rules apply to an interest in real | ||
property that is the subject of a transfer on death deed and owned | ||
by the transferor at death: | ||
(1) if the designated beneficiary survives the | ||
transferor by 120 hours, the interest in the real property is | ||
transferred to the designated beneficiary in accordance with the | ||
deed; | ||
(2) the share [ |
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beneficiary that fails to survive the transferor by 120 hours | ||
lapses, notwithstanding Section 111.052, and is subject to and | ||
passes in accordance with Subchapter D, Chapter 255, as if the | ||
transfer on death deed were a devise made in a will; and | ||
(3) subject to Subdivision (2) [ |
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interests are transferred to the beneficiaries in equal and | ||
undivided shares with no right of survivorship[ |
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SECTION 2. Section 114.151, Estates Code, is amended to | ||
read as follows: | ||
Sec. 114.151. OPTIONAL FORM FOR TRANSFER ON DEATH DEED. The | ||
following form may be used to create a transfer on death deed. | ||
REVOCABLE TRANSFER ON DEATH DEED | ||
NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU | ||
MAY REMOVE OR STRIKE ANY OF THE FOLLOWING INFORMATION FROM THIS | ||
INSTRUMENT BEFORE IT IS FILED FOR RECORD IN THE PUBLIC | ||
RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LICENSE | ||
NUMBER. | ||
IMPORTANT NOTICE TO OWNER: You should carefully read all the | ||
information included in the instructions to this form. You may want | ||
to consult a lawyer before using this form. | ||
MUST RECORD DEED: Before your death, this deed must be recorded | ||
with the county clerk where the property is located, or it will not | ||
be effective. | ||
MARRIED PERSONS: If you are married and want your spouse to own the | ||
property on your death, you must name your spouse as the primary | ||
beneficiary. If your spouse does not survive you, the property | ||
will transfer to any listed alternate beneficiary or beneficiaries | ||
on your death. | ||
1. Owner (Transferor) Making this Deed: | ||
___________________________ ____________________ | ||
Printed name Mailing address | ||
2. Legal Description of the Property: | ||
___________________________________________________ | ||
3. Address of the Property (if any) (include county): | ||
___________________________________________________ | ||
4. Primary Beneficiary (Transferee) or Beneficiaries | ||
(Transferees) | ||
I designate the following beneficiary or beneficiaries, if | ||
the beneficiary survives me: | ||
___________________________ ____________________ | ||
Printed name Mailing address | ||
5. Alternate Beneficiary or Beneficiaries (Optional) | ||
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following alternate beneficiary or beneficiaries, if the alternate | ||
beneficiary survives me: | ||
___________________________ ____________________ | ||
Printed name Mailing address | ||
6. Transfer on Death: (Choose an option under both A and B below, | ||
and if you have designated any alternate beneficiaries, choose an | ||
option under C.) | ||
At my death, I grant and convey to the primary beneficiary or | ||
beneficiaries my interest in the property, to have and hold | ||
forever. [ |
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A. IF AT LEAST ONE PRIMARY BENEFICIARY SURVIVES ME | ||
(Select either option (1) or (2) by placing your initials next to | ||
the option chosen. If you do not choose an option, then option (1), | ||
which is the anti-lapse election, will apply.) | ||
If at least one primary beneficiary survives me, I grant and | ||
convey the primary beneficiaries' share or shares of the property, | ||
to have and hold forever, as follows: | ||
____ (1) Anti-Lapse Election. To the surviving primary | ||
beneficiary or beneficiaries, but if a deceased primary | ||
beneficiary, if any, was a child or other descendant of mine or of | ||
one or both of my parents, that deceased primary beneficiary's | ||
share will pass to the surviving children or other descendants of | ||
that deceased primary beneficiary. | ||
____ (2) Surviving Primary Beneficiaries Election. To the | ||
surviving primary beneficiary or beneficiaries only. If a deceased | ||
primary beneficiary, if any, was a child or other descendant of mine | ||
or of one or both of my parents, I do not want that deceased primary | ||
beneficiary's share to pass to the children or other descendants of | ||
that deceased primary beneficiary. | ||
B. IF NO PRIMARY BENEFICIARY SURVIVES ME | ||
(Select either option (1) or (2) by placing your initials next to | ||
the option chosen. If you do not choose an option, then option (1), | ||
which is the anti-lapse election, will apply.) | ||
If no primary beneficiary survives me, I grant and convey the | ||
share of the property that would have transferred to a deceased | ||
primary beneficiary, to have and hold forever, as follows: | ||
____ (1) Anti-Lapse Election. To the surviving children or | ||
other descendants of the deceased primary beneficiary, if the | ||
deceased primary beneficiary was a child or other descendant of | ||
mine or of one or both of my parents. | ||
____ (2) Surviving Alternate Beneficiaries Election. To | ||
the alternate beneficiary or beneficiaries designated above. If | ||
the deceased primary beneficiary was a child or other descendant of | ||
mine or of one or both of my parents, I do not want that deceased | ||
primary beneficiary's share to pass to the children or other | ||
descendants of that deceased primary beneficiary. | ||
If no primary beneficiary survives me and the anti-lapse | ||
election is not chosen or that election is chosen, but a deceased | ||
primary beneficiary is not a child or other descendant of mine or of | ||
one or both of my parents, I grant and convey to the alternate | ||
beneficiary or beneficiaries my share in the property that | ||
otherwise would have transferred to the deceased primary | ||
beneficiary, to have and hold forever. If I have not designated | ||
alternate beneficiaries, this transfer on death deed shall be | ||
considered cancelled by me. | ||
C. IF AN ALTERNATE BENEFICIARY DOES NOT SURVIVE ME | ||
(Select either option (1) or (2) by placing your initials next to | ||
the option chosen. If you do not choose an option, then option (1), | ||
which is the anti-lapse election, will apply.) | ||
If an alternate beneficiary does not survive me, I grant and | ||
convey that alternate beneficiary's share of the property as | ||
follows: | ||
____ (1) Anti-Lapse Election. To the surviving alternate | ||
beneficiary or beneficiaries, but if the deceased alternate | ||
beneficiary was a child or other descendant of mine or of one or | ||
both of my parents, that deceased alternate beneficiary's share | ||
will pass to the surviving children or other descendants of that | ||
deceased alternate beneficiary. | ||
____ (2) Surviving Alternate Beneficiaries Election. To | ||
the surviving alternate beneficiary or beneficiaries only. If the | ||
deceased alternate beneficiary was a child or other descendant of | ||
mine or of one or both of my parents, I do not want that deceased | ||
alternate beneficiary's share to pass to the children or other | ||
descendants of that deceased alternate beneficiary. | ||
If no alternate beneficiary survives me and the anti-lapse | ||
election is not chosen or that election is chosen, but no deceased | ||
alternate beneficiary was a child or other descendant of mine or of | ||
one or both of my parents, this transfer on death deed shall be | ||
considered cancelled by me. | ||
7. Printed Name and Signature of Owner Making this Deed: | ||
___________________________ ____________________ | ||
Printed Name Date | ||
___________________________ | ||
Signature | ||
BELOW LINE FOR NOTARY ONLY | ||
Acknowledgment | ||
STATE OF ____________________ | ||
COUNTY OF ___________________ | ||
This instrument was acknowledged before me on the ______ day of | ||
______________, 20____, | ||
by ___________________. | ||
Notary Public, State of | ||
After recording, return to: | ||
(insert name and mailing address) | ||
________________________________ | ||
________________________________ | ||
INSTRUCTIONS FOR TRANSFER ON DEATH DEED | ||
DO NOT RECORD THESE INSTRUCTIONS | ||
Instructions for Completing the Form | ||
1. Owner (Transferor) Making this Deed: Enter your first, middle | ||
(if any), and last name here, along with your mailing address. | ||
2. Legal Description of the Property: Enter the formal legal | ||
description of the property. This information is different from | ||
the mailing and physical address for the property and is necessary | ||
to complete the form. To find this information, look on the deed | ||
you received when you became an owner of the property. This | ||
information may also be available in the office of the county clerk | ||
for the county where the property is located. Do NOT use your tax | ||
bill to find this information. If you are not absolutely sure, | ||
consult a lawyer. | ||
3. Address of the Property: Enter the physical address of the | ||
property. | ||
4. Primary Beneficiary or Beneficiaries: Enter the first and | ||
last name of each person you want to get the property when you die. | ||
If you are married and want your spouse to get the property when you | ||
die, enter your spouse's first and last name (even if you and your | ||
spouse own the property together). | ||
5. Alternate Beneficiary or Beneficiaries: Enter the first and | ||
last name of each person you want to get the property if no primary | ||
beneficiary survives you. | ||
6. Transfer on Death: You should carefully read the language | ||
describing the options and choose an option under both A and B of | ||
Paragraph 6, and if you have listed any alternate beneficiaries, | ||
choose an option under C of Paragraph 6 [ |
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7. Printed Name and Signature of Owner: Do not sign your name or | ||
enter the date until you are before a notary. Include your printed | ||
name. | ||
8. Acknowledgment: This deed must be signed before a notary. The | ||
notary will fill out this section of the deed. | ||
SECTION 3. The changes in law made by this Act apply to a | ||
transfer on death deed executed and acknowledged on or after the | ||
effective date of this Act. A transfer on death deed executed and | ||
acknowledged before the effective date of this Act is governed by | ||
the law in effect on the date the transfer on death deed was | ||
executed and acknowledged, and the former law is continued in | ||
effect for that purpose. | ||
SECTION 4. This Act takes effect September 1, 2017. |