59-3504. Same; vesting of ownership in beneficiary; grantee beneficiary. - Kansas Statutes

59-3504

Chapter 59.--PROBATE CODE Article 35.--TRANSFER-ON-DEATH

      59-3504.   Same; vesting of ownership in beneficiary; grantee beneficiary.(a) Title to the interest in real estate recorded intransfer-on-death form shall vest in the designated grantee beneficiary orbeneficiarieson the death of the record owner.

      (b)   Grantee beneficiaries of a transfer-on-death deed take the recordowner's interest in the real estate at death subject to all conveyances,assignments, contracts, mortgages, liens and security pledges made by therecord owner or to which the record owner was subject during the recordowner's lifetime including, but not limited to, any executory contract of sale,option to purchase, lease, license, easement, mortgage, deed of trust orlien, claims of the state of Kansas for medical assistance, as defined inK.S.A. 39-702, and amendments thereto, pursuant to subsection (g)(2) of K.S.A.39-709, and amendments thereto, and to any interest conveyed by the recordowner that is less than all ofthe record owner's interest in the property.

      (c)   If a grantee beneficiary dies prior to the death of the record owner andan alternative grantee beneficiary has not been designated on the deed,the transfer shall lapse.

      History:   L. 1997, ch. 176, § 4; July 1.