House Status:
Senate Status:
Senate Status:
Minutes for HB2016 - Committee on Judiciary
Short Title
Clarifying how property held under a transfer-on-death deed is distributed when one beneficiary predeceases the grantor.
Minutes Content for Tue, Jan 17, 2023
Chairman Patton opened the hearing on HB2016. Natalie Scott reviewed the bill. (Attachment 5) Ms. Scott addressed questions from the membership.
Proponent
Tim O'Sullivan (Attachment 6) stated HB2016 was last year (2022) HB2152 and it passed favorably out of committee but received no floor action in the House Chamber. Mr. O'Sullivan stated The Kansas Bar Association Probate, Trust and Real Property Section has reviewed KSA 59-3504 and found it to be vague when there is more than one Transfer On Death beneficiary and at least one beneficiary predeceases (K.B.A.) the Grantor, and the deed does not provide either that the beneficiary must survive the Grantor to take or provide for an alternative living beneficiary should such beneficiary predecease the Grantor. Under current law it is unclear if the transfer would lapse for the deceased beneficiary or if the entire transfer would lapse. The amendment would make clear that the transfer to the surviving beneficiary would still be valid and only the share left to the deceased beneficiary would lapse. In the event the deceased beneficiary would leave a surviving issue the transfer would not lapse, and the interest would vest in the surviving issue. The changes to KSA 59-3504 would best fulfill the intent of the grantor who used a transfer on death deed to transfer real property. It would avoid the probate process when possible and allow the real property to vest in the named beneficiaries or their children. The K.B.A. is interested in clearing up this area of law to ensure title in real property is clear for future transfers. Mr. O'Sullivan thanked the membership for their time and attention. Mr. O'Sullivan stood for questions.
Chairperson Patton closed the hearing on HB2016.
