Source: https://www.vuwriter.com/en/bulletins/2012-7/BL134132420900000057.html
Timestamp: 2019-04-21 10:32:23+00:00

Document:
The Nebraska Uniform Real Estate Transfer on Death Deed Act was signed by Nebraska’s Governor on April 5, 2012, and is codified at Sections 76-3401 through 76-3423, Nebraska Revised Statutes. What follows is a section-by-section outline of the provisions of the Act. Reference should be made to the actual legislation when seeking to apply it to specific circumstances and situations.
Some sections of the Act are not included below because, although important, they are not of crucial interest to the title community, and are omitted in the interest of brevity.
Beneficiary: a person who receives property under a transfer on death deed (TODD).
Designated Beneficiary (DB): person designated to receive property in a TODD.
Person: individual, corporation, an estate, trustee of a trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency or instrumentality, or any other legal or commercial entity.
Property: an interest in property located in this state which is transferable upon the death of the owner.
Transferor: an individual who makes a TODD.
1. TODD made before, on, after operative date of Act.
2. Transferor dies on or after operative date of Act.
§4. Other Means of Transfer No effect on other means of transfer.
§5. Agricultural real estate May sever growing crops by indicating that growing crops vest either in the DB, or in the transferor’s estate, upon transferor’s death. If no disposition of growing crops appears in the TODD, the crops pass to the transferor’s estate.
§6. Revocable despite contrary provision.
§7. Nontestamentary A TODD is not a Last Will and Testament, and is therefore not treated as one.
§8. Capacity of transferor is same capacity required to make a will.
2. Acknowledged before notary or equivalent officer. Transferor and witnesses must all sign in the presence of a notary.
The foregoing section is unique to Nebraska.
§11. Notice or delivery to designated beneficiary not required for TODD to be effective.
§12. Form 521 (Real Estate Transfer Statement required) at time TODD becomes effective (death of transferor/recording of death certificate).
§16. Disclaimer DB may disclaim all or any part of the beneficiary’s interest.
§17. Designated Beneficiary’s liability Personally liable if remainder of transferor’s estate is insufficient to pay claims, statutory allowances, or expenses of administration.
§18. Medicaid reimbursement DB personally liable for Medicaid reimbursement.
§19. Contract to make or not revoke TODD must be established by written evidence signed by transferor after operative date of act.
§21. Health and Human Services may require revocation to qualify/remain qualified for Medicaid.
All following sections are not part of the TODD Act, but were included in LB 536, and affect other statutory sections, as indicated.
a. designated beneficiary may renounce any interest by filing a written instrument of renunciation.
b. renunciation made after property has been assigned, transferred, encumbered, conveyed, or pledged is ineffective as to any interest so assigned, transferred, encumbered, conveyed, or pledged.
§25. Murder Amends §30-2354, Nebraska Probate Code.
Person who feloniously kills or feloniously aids or abets the killing of the transferor who signed the TODD will be treated, for inheritance purposes, as if he or she predeceased the transferor.
b. require date of death, name of the decedent, and whether the title is affected as a result of a transfer on death deed; joint tenancy deed; expiration of a life estate; or other means.
§31. Requires filing of the death certificate.
§32. Takes TODD out of the operation of the recording acts so that the TODD doesn’t take effect upon recording. Amends §76-238 – the recording act.
§33. TODD cannot be revoked until the instrument of revocation is executed, acknowledged and filed with the Register of Deeds. Amends §76-246, which provides that an instrument of revocation must be recorded with the Register of Deeds.
§35. Additional documentary stamp tax exemptions (Not a part of the codified TODD Act, but included in LB 536). Amends §76-902; documentary tax exemptions.

References: §4

§5

§6

§7

§8

§11

§12

§16

§17

§18

§19

§21

§25
 §30

§31

§32
 §76

§33
 §76

§35
 §76