301.681. Certificate of ownership in beneficiary form--multiple beneficiaries allowed--reassignment permitted--procedure to issue, content, fee--consent not required for transactions, revocation--inte

MISSOURI STATUTES AND CODES

301.681. Certificate of ownership in beneficiary form--multiple beneficiaries allowed--reassignment permitted--procedure to issue, content, fee--consent not required for transactions, revocation--inte

Certificate of ownership in beneficiary form--multiple beneficiariesallowed--reassignment permitted--procedure to issue, content,fee--consent not required for transactions, revocation--interestsubject to certain claims--transfer not deemed testamentary.

301.681. 1. A sole owner of a motor vehicle or trailer, and multipleowners of a motor vehicle or trailer who hold their interest as jointtenants with right of survivorship or as tenants by the entirety, onapplication and payment of the fee required for an original certificate ofownership, may request the director of revenue to issue a certificate ofownership for the motor vehicle or trailer in beneficiary form whichincludes a directive to the director of revenue to transfer the certificateof ownership on death of the sole owner or on death of all multiple ownersto one beneficiary or to two or more beneficiaries as joint tenants withright of survivorship or as tenants by the entirety named on the face ofthe certificate. The directive to the director of revenue also shallpermit the beneficiary or beneficiaries to make one reassignment of theoriginal certificate of ownership upon the death of the owner to anotherowner without transferring the certificate to the beneficiary orbeneficiaries' name.

2. A certificate of ownership in beneficiary form may not be issuedto persons who hold their interest in a motor vehicle or trailer as tenantsin common.

3. A certificate of ownership issued in beneficiary form shallinclude after the name of the owner, or after the names of multiple owners,the words "transfer on death to" or the abbreviation "TOD" followed by thename of the beneficiary or beneficiaries.

4. (1) During the lifetime of a sole owner or prior to the death ofthe last surviving multiple owner, the signature or consent of thebeneficiary or beneficiaries shall not be required for any transactionrelating to the motor vehicle or trailer for which a certificate ofownership in beneficiary form has been issued.

(2) A certificate of ownership in beneficiary form may be revoked orthe beneficiary or beneficiaries changed at any time before the death of asole owner or the last surviving multiple owner only by the followingmethods:

(a) By a sale of the motor vehicle or trailer with proper assignmentand delivery of the certificate of ownership to another person; or

(b) By filing an application to reissue the certificate of ownershipwith no designation of a beneficiary or with the designation of a differentbeneficiary or beneficiaries with the director of revenue in proper formand accompanied by the payment of the fee for an original certificate ofownership.

(3) The beneficiary's or beneficiaries' interest in the motor vehicleor trailer at death of the owner or surviving owner shall be subject to anycontract of sale, assignment of ownership or security interest to which theowner or owners of the motor vehicle or trailer were subject during theirlifetime.

(4) The designation of a beneficiary or beneficiaries in acertificate of ownership issued in beneficiary form may not be changed orrevoked by a will, any other instrument, or a change in circumstances, orotherwise be changed or revoked except as provided by subdivision (2) ofthis subsection.

5. (1) On proof of death of one of the owners of two or moremultiple owners, or of a sole owner, surrender of the outstandingcertificate of ownership, and on application and payment of the fee for anoriginal certificate of ownership, the director of revenue shall issue anew certificate of ownership for the motor vehicle or trailer to thesurviving owner or owners or, if none, to the surviving beneficiary orbeneficiaries, subject to any outstanding security interest; and thecurrent valid certificate of number shall be so transferred. If thesurviving beneficiary or beneficiaries make a request of the director ofrevenue, the director may allow the beneficiary or beneficiaries to makeone assignment of title.

(2) The director of revenue may rely on a death certificate or recordor report that constitutes prima facie proof or evidence of death undersubdivisions (1) and (2) of section 472.290, RSMo.

(3) The transfer of a motor vehicle or trailer at death pursuant tothis section is effective by reason of sections 301.675 to 301.682 andsections 306.455 to 306.465, RSMo, and is not to be considered astestamentary, or to be subject to the requirements of section 473.087,RSMo, or section 474.320, RSMo.