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Title XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY

Chapter 461

previous next Effective - 28 Aug 1995bottom

  461.027.  Transferor may directly transfer property to a transferee to hold as owner in beneficiary form — transferee shall be owner of property for all purposes — transfer effective, when. — 1.  A transferor of property, with or without consideration, may directly transfer the property to a transferee to hold as owner in beneficiary form.

  2.  A transferee under an instrument described in subsection 1 of this section shall be the owner of the property for all purposes and shall have all the rights to the property otherwise provided by law to owners, including the right to revoke or change the beneficiary designation.

  3.  A direct transfer of property to a transferee to hold as owner in beneficiary form is effective when the writing perfecting the transfer becomes effective to make the transferee the owner.

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(L. 1995 S.B. 116)


---- end of effective   28 Aug 1995 ----

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