30-2715 Nonprobate transfers on death. - Nebraska Statutes

30-2715. Nonprobatetransfers on death.(a) A provision for a nonprobatetransfer on death in an insurance policy, contract of employment, bond, mortgage,promissory note, certificated or uncertificated security, account agreement,custodial agreement, deposit agreement, compensation plan, pension plan, individualretirement plan, employee benefit plan, trust, marital property agreement, certificate of title, or otherwritten instrument of a similar nature is nontestamentary. This subsectionincludes a written provision that:(1) money or other benefits due to, controlled by, or ownedby a decedent before death must be paid after the decedent's death to a personwhom the decedent designates either in the instrument or in a separate writing,including a will, executed either before or at the same time as the instrument,or later;(2) money due or to become due under the instrument ceasesto be payable in the event of death of the promisee or the promisor beforepayment or demand; or(3) any property controlled by or owned by the decedent beforedeath which is the subject of the instrument passes to a person the decedentdesignates either in the instrument or in a separate writing, including awill, executed either before or at the same time as the instrument, or later.(b) This section does not limit rights of creditors underother laws of this state. SourceLaws 1993, LB 250, § 1; Laws 2010, LB712, § 24.Operative Date: July 15, 2010AnnotationsIf an instrument executed by the parties is intended by them as security for a debt, whatever may be its form or name, it is in equity a mortgage. Clark v. Clark, 275 Neb. 276, 746 N.W.2d 132 (2008).