75-6-308 - Ownership on death of owner. - Utah Statutes

75-6-308. Ownership on death of owner.
On death of a sole owner or the last to die of all multiple owners, ownership of securitiesregistered in beneficiary form passes to the beneficiary or beneficiaries who survive all owners. On proof of death of all owners and compliance with any applicable requirements of theregistering entity, a security registered in beneficiary form may be reregistered in the name of thebeneficiary or beneficiaries who survived the death of all owners. Until division of the securityafter the death of all owners, multiple beneficiaries surviving the death of all owners hold theirinterests as tenants in common. If no beneficiary survives the death of all owners, the securitybelongs to the estate of the deceased sole owner or the estate of the last to die of all multipleowners.

Enacted by Chapter 9, 1995 General Session