Sacramento Report
August 17, 2010
Transfer on Death Deed Bill Fails Passage
A bill touted as an easy alternative to probates and trusts for seniors, AB 724 (DeVore) failed to pass the Senate Appropriations Committee. AB 724 has been criticized by the CLTA for its potential to increase fraud and elder abuse through its transfer on death deeds. CLTA has opposed the bill for the last two years.
The legislation needed to pass the Senate before August 13th to remain alive. The California Land Title Association had raised questions about the bill since its introduction and joined with the California Judges Association, the State Bar of California, and the California Escrow Association in opposing the legislation.
