Section 16-109 - Nontestamentary transfer-on-death; rights of creditors. - Maryland Statutes

§ 16-109. Nontestamentary transfer-on-death; rights of creditors.
 

(a)  Nontestamentary transfer-on-death.- A transfer-on-death resulting from a registration in beneficiary form is effective by reason of the contract regarding the registration between the owner and the registering entity and this title and is not testamentary. 

(b)  Rights of creditors.- This title does not limit the rights of creditors of security owners against beneficiaries and other transferees under other laws of this State. 
 

[1994, ch. 644.]