59-3505. Same; joint owner. (a) A record joint owner of an interest in real estate may use the procedures in this act to title such interest in transfer-on-death form. However, title to such interest shall vest in the designated grantee beneficiary or beneficiaries only if such record joint owner is the last to die of all of the record joint owners of such interest. A deed in transfer-on-death form shall not sever a joint tenancy.
(b) As used in this section, "joint owner" means a person who owns an interest in real estate as a joint tenant with right of survivorship.
History: L. 1997, ch. 176, § 5; July 1.
2013. Powered by KLISS. Rendered: 2013-05-24T20:44:59. Head Rev No: 346362