Posted by Jess/CT on 9/20/09 9:08am
Msg #304393

New act may ease long probate proceedings

I read this in the newspaper this morning and wanted to pass it on.

The Uniform Real Property Transfer On Death Act has been adopted in a number of states, not yet in CT though. The act will permit real estate to pass to heirs outside of probate through a transfer-on-death deed. Probate is not required and the deed has no effect until you die, you can also revoke it at any time.

This is where we come in. The property owner would need to complete the form that is adopted under the act, have it acknowledged before a notary public or other individual authorized by law to take acknowledgements. Record the form in each county where any part of the property is located.

To learn more visit www.nccusl.org

Reply by BobbiCT on 9/21/09 7:42am
Msg #304430

In CT, won't make a difference (Kevin Ahern chime in please)

Estate planning attorneys have various avenues under current laws regarding passing real property and personal property title quickly (or "no difference"; i.e. various forms of trusts).

Title already is "passed" on death (land records notice issues, etc.). What doesn't happen immediately: the federal and state death tax clearances. Without tax clearances, I doubt an arms-length sale or mortgage will be "speeded up" by recording a "pass on death" document, even if it is prepared and executed according to CT laws.