The following summary is not prepared by the sponsors of the measure and is not a part of the body thereof subject to consideration by the Legislative Assembly. It is an editor's brief statement of the essential features of the measure as introduced.
Revises survivorship laws on simultaneous death.
Establishes survivorship rules for co-owners and other persons acquiring property by reason of one person's survival of another person. Specifies that specified person not be considered to have survived another person unless it is established by clear and convincing evidence that specified person survived other person by at least 120 hours. Extends survivorship rules to wills, deeds, trusts and other governing instruments creating rights conditioned on survivorship. Specifies exceptions to survivorship rules. Provides protections for bona fide purchases and innocent recipients of property subject to claim under survivorship rules.