July 20, 2010
Assembly Bill 724 (DeVore) establishes a new procedure for transferring real estate upon the owner’s death – based on a new deed form for a property owner to complete. A Transfer on Death (TOD) deed would name the person receiving the property upon the owner’s death. Completing the form isn’t intended to have any immediate effect since it only becomes effective upon the owner’s death. AB 724 is currently on the Suspense file in the Senate Appropriations Committee, and may be up taken up after the state budget is passed.