SB 124 requires that a designation of a beneficiary of a transfer on death of real property must be created by affidavit rather than a deed. This means that deeds may no longer be used.
The bill became effective immediately with the governor’s signature on Dec. 28, 2009, and does not affect existing transfer on death deeds recorded prior to that date. The emergency effective date was added to the bill late in the process with amendments that are not part of the bill-in-chief.
Two recommended affidavit forms are available: TOD designation affidavit and TOD affidavit. Affidavits must also comply with the document standardization requirements of Senate Bill 124. However, the forms may be modified to fit particular circumstances.