Source: http://www.wvlegislature.gov/wvcode/Code.cfm?chap=36&art=12
Timestamp: 2019-04-25 05:05:39+00:00

Document:
ARTICLE 1. CREATION OF ESTATES GENERALLY.
ARTICLE 1A. UNIFORM STATUTORY RULE AGAINST PERPETUITIES.
ARTICLE 2. DISPOSITION OF ESTATES SUBJECT TO FUTURE INTERESTS.
ARTICLE 3. FORM AND EFFECT OF DEEDS AND CONTRACTS.
ARTICLE 5. RELEASE OR DISCLAIMER OF POWERS OF APPOINTMENT.
ARTICLE 6. UNIFORM PRINCIPAL AND INCOME ACT.
ARTICLE 7. UNIFORM TRANSFERS TO MINORS ACT.
ARTICLE 8. UNIFORM UNCLAIMED PROPERTY ACT.
ARTICLE 8A. UNCLAIMED STOLEN PROPERTY HELD BY LAW-ENFORCEMENT AGENCIES.
ARTICLE 9. WEST VIRGINIA REAL ESTATE TIME-SHARING ACT.
ARTICLE 10. UNIFORM TRANSFER ON DEATH SECURITY REGISTRATION ACT.
ARTICLE 11. UNIFORM UNINCORPORATED NONPROFIT ASSOCIATION ACT.
ARTICLE 12. UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT.
§36-12-5. Transfer on death deed authorized.
§36-12-6. Transfer on death deed revocable.
§36-12-7. Transfer on death deed nontestamentary.
§36-12-10. Notice, delivery, acceptance and consideration not required.
§36-12-11. Revocation by instrument authorized; revocation by act not permitted.
§36-12-12. Effect of transfer on death deed during transferor's life.
§36-12-13. Effect of transfer on death deed at transferor's death.
§36-12-15. Prior transfer on death liberally construed.
§36-12-16. Uniformity of application and construction.
§36-12-17. Relation to Electronic Signatures in Global and National Commerce Act.
This article may be cited as the Uniform Real Property Transfer on Death Act.
(1) "Beneficiary" means a person who receives property under a transfer on death deed.
(2) "Contingent beneficiary" means a person designated in a transfer on death deed to receive property only if a different person fails to survive the transferor.
(3) "Designated beneficiary" means a person designated to receive property in a transfer on death deed. The term includes contingent beneficiaries.
(4) "Joint owner" means an individual who owns property concurrently with one or more other individuals with a right of survivorship.
(5) "Person" means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency or instrumentality, or any other legal or commercial entity.
(6) "Property" means an interest in real property located in this state which is transferable on the death of the owner.
(7) "Transfer on death deed" means a deed authorized under this article.
(8) "Transferor" means an individual who makes a transfer on death deed.
This article applies to a transfer on death deed made on or after the effective date of this article, by a transferor dying on or after the effective date of this article.
This article does not affect any method of transferring property otherwise permitted under the law of this state.
An individual may transfer property to one or more beneficiaries or contingent beneficiaries effective at the transferor's death by a transfer on death deed.
A transfer on death deed is revocable even if the deed or another instrument contains a contrary provision.
A transfer on death deed is nontestamentary.
The capacity required to make or revoke a transfer on death deed is the same as the capacity required to make a will.
(3) Must be recorded before the transferor's death in the office of the clerk of the county commission in the county where the property is located: Provided, That, notwithstanding section two, article twenty-two, chapter eleven of this code, a transfer on death deed is exempt from the payment of excise tax on the privilege of transferring real estate for the reason that no interest in the property is at the time of recording being passed to the beneficiary and the deed remains revocable until the death of the transferor.
(2) Is acknowledged by the transferor after the acknowledgment of the deed being revoked and recorded before the transferor's death in the public records in the office of the clerk of the county commission of the county where the deed is recorded.
(2) A deed of joint owners is revoked only if it is revoked by all of the living joint owners.
(c) After a transfer on death deed is recorded it may not be revoked by a revocatory act on the deed.
(d) This section does not limit the effect of an inter vivos transfer of the property.
(6) Subject the property to claims or process of a creditor of the designated beneficiary.
(1) Subject to subdivision (2) of this subsection, the interest in the property is transferred to the designated beneficiary in accordance with the deed.
(2) The interest of a designated beneficiary is contingent on the designated beneficiary surviving the transferor. The interest of a designated beneficiary that fails to survive the transferor lapses.
(3) Subject to subdivision (4) of this subsection, concurrent interests are transferred to the beneficiaries in equal and undivided shares with no right of survivorship.
(4) If the transferor has identified two or more designated beneficiaries to receive concurrent interests in the property, the share of one which lapses or fails for any reason is transferred to the other, or to the others in proportion to the interest of each in the remaining part of the property held concurrently.
(b) Subject to article two, chapter thirty-nine and chapter thirty-eight of this code, a beneficiary takes the property subject to all conveyances, encumbrances, assignments, contracts, mortgages, liens and other interests to which the property is subject at the transferor's death. For purposes of this subsection, article two, chapter thirty-nine and chapter thirty-eight of this code, the recording of the transfer on death deed is deemed to have occurred at the transferor's death.
(2) The last surviving joint owner, the transfer on death deed is effective.
(d) A transfer on death deed transfers property without covenant or warranty of title even if the deed contains a contrary provision.
A beneficiary may disclaim all or part of the beneficiary's interest as provided by article six, chapter forty-two of this code.
(a) Any transfer on death deed properly recorded in an office of the clerk of a county commission before the effective date of this article containing language that shows a clear intent to designate a transfer on death beneficiary shall be liberally construed to do so.
(b) Any survivorship clause in a deed properly recorded before the effective date of this article in an office of the clerk of a county commission that attempts to create a right of survivorship tenancy, which survivorship tenancy otherwise fails, but otherwise is an effective deed, and shows a clear intent to designate a beneficiary to receive the property upon death of one or more cotenants by survivorship shall be liberally construed to be an effective transfer on death deed governed by this article.
In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among the states that enact it.
This article modifies, limits and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U. S. C. §7001, et seq., but does not modify, limit or supersede section 101(c) of that act, 15 U. S. C. §7001(c), or authorize electronic delivery of any of the notices described in section 103(b) of that act, 15 U. S. C. §7003(b).

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