reglab/statecodes huggingface dataset:
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 2 - MULTIPLE-PARTY ACCOUNTS › CHAPTER 3 - Ownership Between Parties and Their Creditors and Successors › Section 5301.

5301. (a) An account belongs, during the lifetime of all parties, to the parties in proportion to the net contributions by each, unless there is clear and convincing evidence of a different intent.
(b) If a party makes an excess withdrawal from an account, the other parties to the account shall have an ownership interest in the excess withdrawal in proportion to the net contributions of each to the amount on deposit in the account immediately following the excess withdrawal, unless there is clear and convincing evidence of a contrary agreement between the parties.
(c) Only a living party, or a conservator, guardian, or agent acting on behalf of a living party, shall be permitted to make a claim to recover the living party’s ownership interest in an excess withdrawal, pursuant to subdivision (b). A court may, at its discretion, and in the interest of justice, reduce any recovery under this section to reflect funds withdrawn and applied for the benefit of the claiming party.
(d) In the case of a P.O.D. account, the P.O.D. payee has no rights to the sums on deposit during the lifetime of any party, unless there is clear and convincing evidence of a different intent.
(e) In the case of a Totten trust account, the beneficiary has no rights to the sums on deposit during the lifetime of any party, unless there is clear and convincing evidence of a different intent. If there is an irrevocable trust, the account belongs beneficially to the beneficiary.
(f) For purposes of this section, “excess withdrawal” means the amount of a party’s withdrawal that exceeds that party’s net contribution on deposit in the account immediately preceding the withdrawal.
(Amended by Stats. 2012, Ch. 235, Sec. 1. (AB 1624) Effective January 1, 2013.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 2 - MULTIPLE-PARTY ACCOUNTS › CHAPTER 3 - Ownership Between Parties and Their Creditors and Successors › Section 5302.

5302. Subject to Section 5040:
(a) Sums remaining on deposit at the death of a party to a joint account belong to the surviving party or parties as against the estate of the decedent unless there is clear and convincing evidence of a different intent. If there are two or more surviving parties, their respective ownerships during lifetime are in proportion to their previous ownership interests under Section 5301 augmented by an equal share for each survivor of any interest the decedent may have owned in the account immediately before the decedent’s death; and the right of survivorship continues between the surviving parties.
(b) If the account is a P.O.D. account:
(1) On death of one of two or more parties, the rights to any sums remaining on deposit are governed by subdivision (a).
(2) On death of the sole party or of the survivor of two or more parties, (A) any sums remaining on deposit belong to the P.O.D. payee or payees if surviving, or to the survivor of them if one or more die before the party, (B) if two or more P.O.D. payees survive, any sums remaining on deposit belong to them in equal and undivided shares unless the terms of the account or deposit agreement expressly provide for different shares, and (C) if two or more P.O.D. payees survive, there is no right of survivorship in the event of death of a P.O.D. payee thereafter unless the terms of the account or deposit agreement expressly provide for survivorship between them.
(c) If the account is a Totten trust account:
(1) On death of one of two or more trustees, the rights to any sums remaining on deposit are governed by subdivision (a).
(2) On death of the sole trustee or the survivor of two or more trustees, (A) any sums remaining on deposit belong to the person or persons named as beneficiaries, if surviving, or to the survivor of them if one or more die before the trustee, unless there is clear and convincing evidence of a different intent, (B) if two or more beneficiaries survive, any sums remaining on deposit belong to them in equal and undivided shares unless the terms of the account or deposit agreement expressly provide for different shares, and (C) if two or more beneficiaries survive, there is no right of survivorship in event of death of any beneficiary thereafter unless the terms of the account or deposit agreement expressly provide for survivorship between them.
(d) In other cases, the death of any party to a multiparty account has no effect on beneficial ownership of the account other than to transfer the rights of the decedent as part of the decedent’s estate.
(e) A right of survivorship arising from the express terms of the account or under this section, a beneficiary designation in a Totten trust account, or a P.O.D. payee designation, cannot be changed by will.
(Amended by Stats. 2015, Ch. 293, Sec. 9. (AB 139) Effective January 1, 2016.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 2 - MULTIPLE-PARTY ACCOUNTS › CHAPTER 3 - Ownership Between Parties and Their Creditors and Successors › Section 5303.

5303. (a) The provisions of Section 5302 as to rights of survivorship are determined by the form of the account at the death of a party.
(b) Once established, the terms of a multiple-party account can be changed only by any of the following methods:
(1) Closing the account and reopening it under different terms.
(2) Presenting to the financial institution a modification agreement that is signed by all parties with a present right of withdrawal. If the financial institution has a form for this purpose, it may require use of the form.
(3) If the provisions of the terms of the account or deposit agreement provide a method of modification of the terms of the account, complying with those provisions.
(4) As provided in subdivision (c) of Section 5405.
(c) During the lifetime of a party, the terms of the account may be changed as provided in subdivision (b) to eliminate or to add rights of survivorship. Withdrawal of funds from the account by a party also eliminates rights of survivorship with respect to the funds withdrawn to the extent of the withdrawing party’s net contribution to the account.
(Amended by Stats. 2012, Ch. 235, Sec. 2. (AB 1624) Effective January 1, 2013.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 2 - MULTIPLE-PARTY ACCOUNTS › CHAPTER 3 - Ownership Between Parties and Their Creditors and Successors › Section 5304.

5304. Any transfers resulting from the application of Section 5302 are effective by reason of the account contracts involved and this part and are not to be considered as testamentary. The right under this part of a surviving party to a joint account, or of a beneficiary, or of a P.O.D. payee, to the sums on deposit on the death of a party to a multiple-party account shall not be denied, abridged, or affected because such right has not been created by a writing executed in accordance with the laws of this state prescribing the requirements to effect a valid testamentary disposition of property.
(Enacted by Stats. 1990, Ch. 79.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 2 - MULTIPLE-PARTY ACCOUNTS › CHAPTER 3 - Ownership Between Parties and Their Creditors and Successors › Section 5305.

5305. (a) Notwithstanding Sections 5301 to 5303, inclusive, if parties to an account are married to each other, whether or not they are so described in the deposit agreement, their net contribution to the account is presumed to be and remain their community property.
(b) Notwithstanding Sections 2581 and 2640 of the Family Code, the presumption established by this section is a presumption affecting the burden of proof and may be rebutted by proof of either of the following:
(1) The sums on deposit that are claimed to be separate property can be traced from separate property unless it is proved that the married persons made a written agreement that expressed their clear intent that the sums be their community property.
(2) The married persons made a written agreement, separate from the deposit agreement, that expressly provided that the sums on deposit, claimed not to be community property, were not to be community property.
(c) Except as provided in Section 5307, a right of survivorship arising from the express terms of the account or under Section 5302, a beneficiary designation in a Totten trust account, or a P.O.D. payee designation, may not be changed by will.
(d) Except as provided in subdivisions (b) and (c), a multiple-party account created with community property funds does not in any way alter community property rights.
(Amended by Stats. 1993, Ch. 219, Sec. 224.7. Effective January 1, 1994.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 2 - MULTIPLE-PARTY ACCOUNTS › CHAPTER 3 - Ownership Between Parties and Their Creditors and Successors › Section 5306.

5306. For the purposes of this chapter, if an account is expressly described in the deposit agreement as a “tenancy in common” account, no right of survivorship arises from the terms of the account or under Section 5302 unless the terms of the account or deposit agreement expressly provide for survivorship.
(Enacted by Stats. 1990, Ch. 79.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 2 - MULTIPLE-PARTY ACCOUNTS › CHAPTER 3 - Ownership Between Parties and Their Creditors and Successors › Section 5307.

5307. For the purposes of this chapter, except to the extent the terms of the account or deposit agreement expressly provide otherwise, if the parties to an account are married to each other and the account is expressly described in the account agreement as a “community property” account, the ownership of the account during lifetime and after the death of a spouse is governed by the law governing community property generally.
(Enacted by Stats. 1990, Ch. 79.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 2 - MULTIPLE-PARTY ACCOUNTS › CHAPTER 4 - Protection of Financial Institution › Section 5401.

5401. (a) Financial institutions may enter into multiple-party accounts to the same extent that they may enter into single-party accounts. Any multiple-party account may be paid, on request and according to its terms, to any one or more of the parties or agents.
(b) The terms of the account or deposit agreement may require the signatures of more than one of the parties to a multiple-party account during their lifetimes or of more than one of the survivors after the death of any one of them on any check, check endorsement, receipt, notice of withdrawal, request for withdrawal, or withdrawal order. In such case, the financial institution shall pay the sums on deposit only in accordance with such terms, but those terms do not limit the right of the sole survivor or of all of the survivors to receive the sums on deposit.
(c) A financial institution is not required to do any of the following pursuant to Section 5301, 5303, or any other provision of this part:
(1) Inquire as to the source of funds received for deposit to a multiple-party account, or inquire as to the proposed application of any sum withdrawn from an account, for purposes of establishing net contributions.
(2) Determine any party’s net contribution.
(3) Limit withdrawals or any other use of an account based on the net contribution of any party, whether or not the financial institution has actual knowledge of each party’s contribution.
(d) All funds in an account, unless otherwise agreed in writing by the financial institution and the parties to the account, remain subject to liens, security interests, rights of setoff, and charges, notwithstanding the determination or allocation of net contributions with respect to the parties.
(Amended by Stats. 2012, Ch. 235, Sec. 3. (AB 1624) Effective January 1, 2013.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 2 - MULTIPLE-PARTY ACCOUNTS › CHAPTER 4 - Protection of Financial Institution › Section 5402.

5402. Any sums in a joint account may be paid, on request and according to its terms, to any party without regard to whether any other party is incapacitated or deceased at the time the payment is demanded; but payment may not be made to the personal representative or heirs of a deceased party unless proof of death is presented to the financial institution showing that the decedent was the last surviving party or unless there is no right of survivorship under Section 5302.
(Enacted by Stats. 1990, Ch. 79.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 2 - MULTIPLE-PARTY ACCOUNTS › CHAPTER 4 - Protection of Financial Institution › Section 5403.

5403. Any P.O.D. account may be paid, on request and according to its terms, to any original party to the account. Payment may be made, on request, to the P. O.D. payee or to the personal representative or heirs of a deceased P.O.D. payee upon presentation to the financial institution of proof of death showing that the P.O.D. payee survived all persons named as original payees. Payment may be made to the personal representative or heirs of a deceased original payee if proof of death is presented to the financial institution showing that the deceased original payee was the survivor of all other persons named on the account either as an original payee or as P.O.D. payee.
(Enacted by Stats. 1990, Ch. 79.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 2 - MULTIPLE-PARTY ACCOUNTS › CHAPTER 4 - Protection of Financial Institution › Section 5404.

5404. Any Totten trust account may be paid, on request and according to its terms, to any trustee. Unless the financial institution has received written notice that the beneficiary has a vested interest not dependent upon surviving the trustee, payment may be made to the personal representative or heirs of a deceased trustee if proof of death is presented to the financial institution showing that the deceased trustee was the survivor of all other persons named on the account either as trustee or beneficiary. A Totten trust account may be paid to a beneficiary or beneficiaries or the personal representative or heirs of a beneficiary or beneficiaries if proof of death is presented to the financial institution showing that the beneficiary or beneficiaries survived all persons named as trustees.
(Enacted by Stats. 1990, Ch. 79.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 2 - MULTIPLE-PARTY ACCOUNTS › CHAPTER 4 - Protection of Financial Institution › Section 5405.

5405. (a) Payment made pursuant to Section 5401, 5402, 5403, or 5404 discharges the financial institution from all claims for amounts so paid whether or not the payment is consistent with the beneficial ownership of the account as between parties, P.O.D. payees, or beneficiaries, or their successors.
(b) The protection provided by subdivision (a) does not extend to payments made after the financial institution has been served with a court order restraining payment. No other notice or any other information shown to have been available to a financial institution shall affect its right to the protection provided by subdivision (a).
(c) Unless the notice is withdrawn by a subsequent writing, after receipt of a written notice from any party that withdrawals in accordance with the terms of the account, other than a checking account, share draft account, or other similar third-party payment instrument, should not be permitted, except with the signatures of more than one of the parties during their lifetimes or of more than one of the survivors after the death of any one of the parties, the financial institution may only pay the sums on deposit in accordance with the written instructions pending determination of the rights of the parties or their successors. No liability shall attach to the financial institution for complying with the terms of any written notice provided pursuant to this subdivision.
(d) The protection provided by this section has no bearing on the rights of parties in disputes between themselves or their successors concerning the beneficial ownership of funds in, or withdrawn from, multiple-party accounts and is in addition to, and not exclusive of, any protection provided the financial institution by any other provision of law.
(Enacted by Stats. 1990, Ch. 79.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 2 - MULTIPLE-PARTY ACCOUNTS › CHAPTER 4 - Protection of Financial Institution › Section 5406.

5406. The provisions of this chapter that apply to the payment of a Totten trust account apply to an account in the name of one or more parties as trustee for one or more other persons if the financial institution has no other or further notice in writing that the account is not a Totten trust account as defined in Section 80.
(Enacted by Stats. 1990, Ch. 79.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 2 - MULTIPLE-PARTY ACCOUNTS › CHAPTER 4 - Protection of Financial Institution › Section 5407.

5407. If a financial institution is required or permitted to make payment pursuant to this chapter to a person who is a minor:
(a) If the minor is a party to a multiple-party account, payment may be made to the minor or to the minor’s order, and payment so made is a valid release and discharge of the financial institution, but this subdivision does not apply if the account is to be paid to the minor because the minor was designated as a P.O. D. payee or as a beneficiary of a Totten trust account.
(b) In cases where subdivision (a) does not apply, payment shall be made pursuant to the California Uniform Transfers to Minors Act (Part 9 (commencing with Section 3900) of Division 4), or as provided in Chapter 2 (commencing with Section 3400) of Part 8 of Division 4.
(Enacted by Stats. 1990, Ch. 79.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 3 - UNIFORM TOD SECURITY REGISTRATION ACT › Section 5500.

5500. (a) This part shall be known as and may be cited as the Uniform TOD Security Registration Act.
(b) This part shall be liberally construed and applied to promote its underlying purposes and policy.
(c) The underlying purposes and policy of this act are to (1) encourage development of a title form for use by individuals that is effective, without probate and estate administration, for transferring property at death in accordance with directions of a deceased owner of a security as included in the title form in which the security is held and (2) protect issuers offering and implementing the new title form.
(d) Unless displaced by the particular provisions of this part, the principles of law and equity supplement its provisions.
(Added by Stats. 1998, Ch. 242, Sec. 2. Effective January 1, 1999.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 3 - UNIFORM TOD SECURITY REGISTRATION ACT › Section 5501.

5501. For purposes of this part:
(a) “Beneficiary form” means a registration of a security that indicates the present owner of the security and the intention of the owner regarding the person who will become the owner of the security upon the death of the owner.
(b) “Register,” including its derivatives, means to issue a certificate showing the ownership of a certificated security or, in the case of an uncertificated security, to initiate or transfer an account showing ownership of securities.
(c) “Registering entity” means a person who originates or transfers a security title by registration, and includes a broker maintaining security accounts for customers and a transfer agent or other person acting for or as an issuer of securities.
(d) “Security” means a share, participation, or other interest in property, in a business, or in an obligation of an enterprise or other issuer, and includes a certificated security, an uncertificated security, and a security account.
(e) (1) “Security account” means any of the following:
(A) A reinvestment account associated with a security, a securities account with a broker, a cash balance in a brokerage account, cash, cash equivalents, interest, earnings, or dividends earned or declared on a security in an account, a reinvestment account, or a brokerage account, whether or not credited to the account before the owner’s death.
(B) An investment management or custody account with a trust company or a trust department of a bank with trust powers, including the securities in the account, the cash balance in the account, and cash equivalents, and interest, earnings, or dividends earned or declared on a security in the account, whether or not credited to the account before the owner’s death.
(C) A cash balance or other property held for or due to the owner of a security as a replacement for or product of an account security, whether or not credited to the account before the owner’s death.
(2) For the purposes of this subdivision, “cash equivalent” means an investment that is easily converted into cash, including, treasury bills, treasury notes, money market funds, savings bonds, short-term instruments, and short-term obligations.
(f) This section may not be construed to govern cash equivalents in multiple-party accounts that are governed by the California Multiple-Party Accounts Law, Part 2 (commencing with Section 5100).
(Amended by Stats. 2002, Ch. 809, Sec. 3. Effective January 1, 2003.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 3 - UNIFORM TOD SECURITY REGISTRATION ACT › Section 5502.

5502. Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by two or more individuals with right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form. Multiple owners of a security registered in beneficiary form hold as joint tenants with right of survivorship, as tenants by the entireties, or as owners of community property held in survivorship form, and not as tenants in common.
(Added by Stats. 1998, Ch. 242, Sec. 2. Effective January 1, 1999.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 3 - UNIFORM TOD SECURITY REGISTRATION ACT › Section 5503.

5503. A security may be registered in beneficiary form if the form is authorized by this or a similar statute of the state of organization of the issuer or registering entity, the location of the registering entity’s principal office, the office of its transfer agent or its office making the registration, or by this or a similar statute of the law of the state listed as the owner’s address at the time of registration. A registration governed by the law of a jurisdiction in which this or similar legislation is not in force or was not in force when a registration in beneficiary form was made is nevertheless presumed to be valid and authorized as a matter of contract law.
(Added by Stats. 1998, Ch. 242, Sec. 2. Effective January 1, 1999.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 3 - UNIFORM TOD SECURITY REGISTRATION ACT › Section 5504.

5504. A security, whether evidenced by certificate or account, is registered in beneficiary form when the registration includes a designation of a beneficiary to take the ownership at the death of the owner or the deaths of all multiple owners.
(Added by Stats. 1998, Ch. 242, Sec. 2. Effective January 1, 1999.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 3 - UNIFORM TOD SECURITY REGISTRATION ACT › Section 5505.

5505. Registration in beneficiary form may be shown by the words “transfer on death” or the abbreviation “TOD,” or by the words “pay on death” or the abbreviation “POD,” after the name of the registered owner and before the name of a beneficiary.
(Added by Stats. 1998, Ch. 242, Sec. 2. Effective January 1, 1999.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 3 - UNIFORM TOD SECURITY REGISTRATION ACT › Section 5506.

5506. The designation of a TOD beneficiary on a registration in beneficiary form has no effect on ownership until the owner’s death. A registration of a security in beneficiary form may be canceled or changed at any time by the sole owner or all then surviving owners without the consent of the beneficiary.
(Added by Stats. 1998, Ch. 242, Sec. 2. Effective January 1, 1999.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 3 - UNIFORM TOD SECURITY REGISTRATION ACT › Section 5507.

5507. On death of a sole owner or the last to die of all multiple owners, ownership of securities registered 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 the registering entity, a security registered in beneficiary form may be reregistered in the name of the beneficiary or beneficiaries who survive the death of all owners. Until division of the security after the death of all owners, multiple beneficiaries surviving the death of all owners hold their interests as tenants in common. If no beneficiary survives the death of all owners, the security belongs to the estate of the deceased sole owner or the estate of the last to die of all multiple owners.
(Added by Stats. 1998, Ch. 242, Sec. 2. Effective January 1, 1999.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 3 - UNIFORM TOD SECURITY REGISTRATION ACT › Section 5508.

5508. (a) A registering entity is not required to offer or to accept requests for security registration in beneficiary form. If a registration in beneficiary form is offered by a registering entity, the owner requesting registration in beneficiary form assents to the protections given to the registering entity by this part.
(b) By accepting a request for registration of a security in beneficiary form, the registering entity agrees that the registration will be implemented as provided in this part.
(c) A registering entity is discharged from all claims to a security by the estate, creditors, heirs, or devisees of a deceased owner if it registers a transfer of the security in accordance with Section 5507 and does so in good faith reliance (1) on the registration, (2) on this part, and (3) on information provided to it by affidavit of the personal representative of the deceased owner, or by the surviving beneficiary or the surviving beneficiary’s representatives, or other information available to the registering entity. The protections of this part do not extend to a reregistration or payment made after a registering entity has received written notice from any claimant to any interest in the security objecting to implementation of a registration in beneficiary form. No other notice or other information available to the registering entity shall affect its right to protection under this part.
(d) The protection provided by this part to the registering entity of a security does not affect the rights of beneficiaries in disputes between themselves and other claimants to ownership of the security transferred or its value or proceeds.
(Added by Stats. 1998, Ch. 242, Sec. 2. Effective January 1, 1999.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 3 - UNIFORM TOD SECURITY REGISTRATION ACT › Section 5509.

5509. (a) Any transfer on death resulting from a registration in beneficiary form is effective by reason of the contract regarding the registration between the owner and the registering entity and this part and is not testamentary.
(b) This part does not limit the rights of a surviving spouse or creditors of security owners against beneficiaries and other transferees under other laws of this state.
(Added by Stats. 1998, Ch. 242, Sec. 2. Effective January 1, 1999.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 3 - UNIFORM TOD SECURITY REGISTRATION ACT › Section 5510.

5510. (a) A registering entity offering to accept registrations in beneficiary form may establish the terms and conditions under which it will receive requests for (1) registrations in beneficiary form, and (2) implementation of registrations in beneficiary form, including requests for cancellation of previously registered TOD beneficiary designations and requests for reregistration to effect a change of beneficiary.
(b) The terms and conditions established pursuant to subdivision (a) may provide for (1) proving death, (2) avoiding or resolving any problems concerning fractional shares, (3) designating primary and contingent beneficiaries, and (4) substituting a named beneficiary’s descendants to take in the place of the named beneficiary in the event of the beneficiary’s death. Substitution may be indicated by appending to the name of the primary beneficiary the letters LDPS, standing for “lineal descendants per stirpes.” This designation substitutes a deceased beneficiary’s descendants who survive the owner for a beneficiary who fails to so survive, the descendants to be identified and to share in accordance with the law of the beneficiary’s domicile at the owner’s death governing inheritance by descendants of an intestate. Other forms of identifying beneficiaries who are to take on one or more contingencies, and rules for providing proofs and assurances needed to satisfy reasonable concerns by registering entities regarding conditions and identities relevant to accurate implementation of registrations in beneficiary form, may be contained in a registering entity’s terms and conditions.
(c) The following are illustrations of registrations in beneficiary form that a registering entity may authorize:
(1) Sole owner-sole beneficiary: John S. Brown TOD (or POD) John S. Brown, Jr.
(2) Multiple owners-sole beneficiary: John S. Brown Mary B. Brown, JT TEN TOD John S. Brown, Jr.
(3) Multiple owners-primary and secondary (substituted) beneficiaries: John S. Brown Mary B. Brown, JT TEN TOD John S. Brown, Jr. SUB BENE Peter Q. Brown , or John S. Brown Mary B. Brown JT TEN TOD John S. Brown Jr. LDPS.
(Added by Stats. 1998, Ch. 242, Sec. 2. Effective January 1, 1999.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 3 - UNIFORM TOD SECURITY REGISTRATION ACT › Section 5511.

5511. Nothing in this part alters the community character of community property or community rights in community property. This part is subject to Chapter 2 (commencing with Section 5010) of Part 1 of Division 5.
(Added by Stats. 1998, Ch. 242, Sec. 2. Effective January 1, 1999.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 3 - UNIFORM TOD SECURITY REGISTRATION ACT › Section 5512.

5512. This part applies to registrations of securities in beneficiary form made before, on, or after January 1, 1999, by decedents dying on or after January 1, 1999.
(Added by Stats. 1998, Ch. 242, Sec. 2. Effective January 1, 1999.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 4 - REVOCABLE TRANSFER ON DEATH DEED › CHAPTER 1 - General Provisions › ARTICLE 1 - Preliminary Provisions › Section 5600.

5600. (a) This part applies to a revocable transfer on death deed made by a transferor who dies on or after January 1, 2016, whether the deed was executed or recorded before, on, or after January 1, 2016.
(b) Nothing in this part invalidates an otherwise valid transfer under Section 5602.
(c) This part shall remain in effect only until January 1, 2032, and as of that date is repealed, unless a later enacted statute, that is enacted before January 1, 2032, deletes or extends that date. The repeal of this part pursuant to this subdivision shall not affect the validity or effect of a revocable transfer on death deed that is executed before January 1, 2032, and shall not affect the authority of the transferor to revoke a transfer on death deed by recording a signed and notarized instrument that is substantially in the form specified in Section 5644.
(d) The revisions made by the act that added this subdivision do not apply to a revocable transfer on death deed or revocation form that was signed before January 1, 2022.
(Amended by Stats. 2021, Ch. 215, Sec. 2. (SB 315) Effective January 1, 2022. Repealed as of January 1, 2032, by its own provisions. Note: Repeal affects Part 4, comprising Sections 5600 to 5698.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 4 - REVOCABLE TRANSFER ON DEATH DEED › CHAPTER 1 - General Provisions › ARTICLE 1 - Preliminary Provisions › Section 5602.

5602. This part does not preclude use of any other method of conveying real property that is permitted by law and that has the effect of postponing enjoyment of the property until the death of the owner.
(Added by Stats. 2015, Ch. 293, Sec. 17. (AB 139) Effective January 1, 2016. Repealed as of January 1, 2032, pursuant to Section 5600.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 4 - REVOCABLE TRANSFER ON DEATH DEED › CHAPTER 1 - General Provisions › ARTICLE 1 - Preliminary Provisions › Section 5604.

5604. (a) Except as provided in subdivision (b), nothing in this part affects the application to a revocable transfer on death deed of any other statute governing a nonprobate transfer on death, including, but not limited to, any of the following provisions that by its terms or intent would apply to a nonprobate transfer on death:
(1) Division 2 (commencing with Section 100).
(2) Part 1 (commencing with Section 5000) of this division.
(3) Division 10 (commencing with Section 20100).
(4) Division 11 (commencing with Section 21101).
(b) Notwithstanding subdivision (a), a provision of another statute governing a nonprobate transfer on death does not apply to a revocable transfer on death deed to the extent this part provides a contrary rule.
(Added by Stats. 2015, Ch. 293, Sec. 17. (AB 139) Effective January 1, 2016. Repealed as of January 1, 2032, pursuant to Section 5600.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 4 - REVOCABLE TRANSFER ON DEATH DEED › CHAPTER 1 - General Provisions › ARTICLE 1 - Preliminary Provisions › Section 5605.

5605. (a) The California Law Revision Commission shall study the effect of California’s revocable transfer on death deed and make recommendations for improvement of this part. The commission shall report all of its findings and recommendations to the Legislature on or before January 1, 2031.
(b) In the study required by subdivision (a), the commission shall address all of the following:
(1) Whether the revocable transfer on death deed is working effectively.
(2) Whether the revocable transfer on death deed should be continued.
(3) Whether the revocable transfer on death deed is subject to misuse or misunderstanding.
(4) What changes should be made to the revocable transfer on death deed or the law associated with the deed to improve its effectiveness and to avoid misuse or misunderstanding.
(5) Whether the revocable transfer on death deed has been used to perpetuate financial abuse on property owners and, if so, how the law associated with the deed should be changed to minimize this abuse.
(6) Whether there should be any change to the types of property that can be transferred by revocable transfer on death deed.
(7) Whether there should be any change to the types of persons or entities that can be named as the beneficiary of a revocable transfer on death deed.
(c) The report required by subdivision (a) shall comply with Section 9795 of the Government Code.
(Added by Stats. 2021, Ch. 215, Sec. 3. (SB 315) Effective January 1, 2022. Repealed as of January 1, 2032, pursuant to Section 5600.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 4 - REVOCABLE TRANSFER ON DEATH DEED › CHAPTER 1 - General Provisions › ARTICLE 2 - Definitions › Section 5606.

5606. Unless the provision or context otherwise requires, the definitions in this article govern the construction of this part.
(Added by Stats. 2015, Ch. 293, Sec. 17. (AB 139) Effective January 1, 2016. Repealed as of January 1, 2032, pursuant to Section 5600.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 4 - REVOCABLE TRANSFER ON DEATH DEED › CHAPTER 1 - General Provisions › ARTICLE 2 - Definitions › Section 5608.

5608. “Beneficiary” means a person named in a revocable transfer on death deed as transferee of the property. A natural person, trust, or legal entity may be named as a beneficiary.
(Amended by Stats. 2021, Ch. 215, Sec. 4. (SB 315) Effective January 1, 2022. Repealed as of January 1, 2032, pursuant to Section 5600.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 4 - REVOCABLE TRANSFER ON DEATH DEED › CHAPTER 1 - General Provisions › ARTICLE 2 - Definitions › Section 5610.

5610. (a) Except as provided in subdivision (b), “real property” means either of the following:
(1) A parcel of land that is improved with one to four residential dwelling units.
(2) A residential separate interest and its appurtenant common area in a common interest development, regardless of the number of separate interests in the common interest development.
(b) “Real property” does not include a parcel of agricultural land that is greater than 40 acres in size. For the purposes of this subdivision, “agricultural land” means land that is designated for agricultural use by law or by a document that is recorded in the county in which the land is located.
(c) The definition of “real property” shall be construed pursuant to the circumstances that existed on the execution date shown on the revocable transfer on death deed.
(Amended by Stats. 2023, Ch. 62, Sec. 1. (AB 288) Effective January 1, 2024. Repealed as of January 1, 2032, pursuant to Section 5600.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 4 - REVOCABLE TRANSFER ON DEATH DEED › CHAPTER 1 - General Provisions › ARTICLE 2 - Definitions › Section 5612.

5612. “Recorded” has the meaning provided in Section 1170 of the Civil Code.
(Added by Stats. 2015, Ch. 293, Sec. 17. (AB 139) Effective January 1, 2016. Repealed as of January 1, 2032, pursuant to Section 5600.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 4 - REVOCABLE TRANSFER ON DEATH DEED › CHAPTER 1 - General Provisions › ARTICLE 2 - Definitions › Section 5614.

5614. (a) “Revocable transfer on death deed” means an instrument created pursuant to this part that does all of the following:
(1) Makes a donative transfer of real property to a named beneficiary.
(2) Operates on the transferor’s death.
(3) Remains revocable until the transferor’s death.
(b) A revocable transfer on death deed may also be known as a “revocable TOD deed.”
(c) A revocable transfer on death deed may be used to transfer real property even if ownership of the property is not typically evidenced or transferred by use of a deed.
(Amended by Stats. 2023, Ch. 62, Sec. 2. (AB 288) Effective January 1, 2024. Repealed as of January 1, 2032, pursuant to Section 5600.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 4 - REVOCABLE TRANSFER ON DEATH DEED › CHAPTER 1 - General Provisions › ARTICLE 2 - Definitions › Section 5614.5.

5614.5. “Stock cooperative” has the same meaning as in Section 4190 of the Civil Code.
(Added by Stats. 2023, Ch. 62, Sec. 3. (AB 288) Effective January 1, 2024. Repealed as of January 1, 2032, pursuant to Section 5600.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 4 - REVOCABLE TRANSFER ON DEATH DEED › CHAPTER 1 - General Provisions › ARTICLE 2 - Definitions › Section 5615.

5615. “Subscribing witness” means a person who signs a revocable transfer on death deed as a witness, as provided in Section 5624.
(Added by Stats. 2021, Ch. 215, Sec. 7. (SB 315) Effective January 1, 2022. Repealed as of January 1, 2032, pursuant to Section 5600.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 4 - REVOCABLE TRANSFER ON DEATH DEED › CHAPTER 1 - General Provisions › ARTICLE 2 - Definitions › Section 5616.

5616. “Transferor” means an owner of real property who makes a revocable transfer on death deed of the property.
(Added by Stats. 2015, Ch. 293, Sec. 17. (AB 139) Effective January 1, 2016. Repealed as of January 1, 2032, pursuant to Section 5600.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 4 - REVOCABLE TRANSFER ON DEATH DEED › CHAPTER 1 - General Provisions › ARTICLE 2 - Definitions › Section 5618.

5618. “Unsecured debts” includes, but is not limited to, a transferor’s funeral expenses, expenses of a transferor’s last illness, and wage claims.
(Added by Stats. 2021, Ch. 215, Sec. 8. (SB 315) Effective January 1, 2022. Repealed as of January 1, 2032, pursuant to Section 5600.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 4 - REVOCABLE TRANSFER ON DEATH DEED › CHAPTER 2 - Execution and Revocation › ARTICLE 1 - Execution › Section 5620.

5620. An owner of real property who has the capacity to contract may make a revocable transfer on death deed of the property.
(Added by Stats. 2015, Ch. 293, Sec. 17. (AB 139) Effective January 1, 2016. Repealed as of January 1, 2032, pursuant to Section 5600.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 4 - REVOCABLE TRANSFER ON DEATH DEED › CHAPTER 2 - Execution and Revocation › ARTICLE 1 - Execution › Section 5622.

5622. The transferor shall identify the beneficiary by name in a revocable transfer on death deed.
(Added by Stats. 2015, Ch. 293, Sec. 17. (AB 139) Effective January 1, 2016. Repealed as of January 1, 2032, pursuant to Section 5600.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 4 - REVOCABLE TRANSFER ON DEATH DEED › CHAPTER 2 - Execution and Revocation › ARTICLE 1 - Execution › Section 5624.

5624. A revocable transfer on death deed is not effective unless all of the following conditions are satisfied:
(a) The deed is signed by the transferor and dated.
(b) The deed is signed by two witnesses who were present at the same time and who witnessed either the signing of the deed or the transferor’s acknowledgment that the transferor had signed the deed.
(c) The deed is acknowledged before a notary public.
(Amended by Stats. 2021, Ch. 215, Sec. 9. (SB 315) Effective January 1, 2022. Repealed as of January 1, 2032, pursuant to Section 5600.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 4 - REVOCABLE TRANSFER ON DEATH DEED › CHAPTER 2 - Execution and Revocation › ARTICLE 1 - Execution › Section 5625.

5625. (a) Any person generally competent to be a witness may act as a witness to a revocable transfer on death deed.
(b) A revocable transfer on death deed is not invalid because it is signed by an interested witness.
(c) If a beneficiary of a revocable transfer on death deed is also a subscribing witness, there is a presumption that the witness procured the revocable transfer on death deed by duress, menace, fraud, or undue influence. This presumption is a presumption affecting the burden of proof. This presumption does not apply where the witness is named as beneficiary solely in a fiduciary capacity.
(Added by Stats. 2021, Ch. 215, Sec. 10. (SB 315) Effective January 1, 2022. Repealed as of January 1, 2032, pursuant to Section 5600.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 4 - REVOCABLE TRANSFER ON DEATH DEED › CHAPTER 2 - Execution and Revocation › ARTICLE 1 - Execution › Section 5626.

5626. (a) A revocable transfer on death deed is not effective unless the deed is recorded on or before 60 days after the date it was acknowledged before a notary.
(b) The transferor is not required to deliver a revocable transfer on death deed to the beneficiary during the transferor’s life.
(c) The beneficiary is not required to accept a revocable transfer on death deed from the transferor during the transferor’s life.
(d) (1) Subdivision (a) does not require the recordation of the “Common Questions” language that is specified in subdivision (b) of Section 5642. The failure to record that part of the statutory form has no effect on the effectiveness of a revocable transfer on death deed.
(2) (A) This subdivision applies to a revocable transfer on death deed executed on or after July 9, 2018.
(B) This subdivision applies to a revocable transfer on death deed executed before July 9, 2018, only if the transferor was alive on July 9, 2018.
(Amended by Stats. 2021, Ch. 215, Sec. 11. (SB 315) Effective January 1, 2022. Repealed as of January 1, 2032, pursuant to Section 5600.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 4 - REVOCABLE TRANSFER ON DEATH DEED › CHAPTER 2 - Execution and Revocation › ARTICLE 1 - Execution › Section 5628.

5628. (a) If a revocable transfer on death deed is recorded for the same property for which another revocable transfer on death deed is recorded, the later executed deed is the operative instrument and its recordation revokes the earlier executed deed.
(b) Revocation of a revocable transfer on death deed does not revive an instrument earlier revoked by recordation of that deed.
(Added by Stats. 2015, Ch. 293, Sec. 17. (AB 139) Effective January 1, 2016. Repealed as of January 1, 2032, pursuant to Section 5600.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 4 - REVOCABLE TRANSFER ON DEATH DEED › CHAPTER 2 - Execution and Revocation › ARTICLE 2 - Revocation › Section 5630.

5630. A transferor who has the capacity to contract may revoke a revocable transfer on death deed at any time.
(Added by Stats. 2015, Ch. 293, Sec. 17. (AB 139) Effective January 1, 2016. Repealed as of January 1, 2032, pursuant to Section 5600.)
2023 California Code › Probate Code - PROB › DIVISION 5 - NONPROBATE TRANSFERS › PART 4 - REVOCABLE TRANSFER ON DEATH DEED › CHAPTER 2 - Execution and Revocation › ARTICLE 2 - Revocation › Section 5632.

5632. (a) An instrument revoking a revocable transfer on death deed shall be executed and recorded in the same manner as execution and recordation of a revocable transfer on death deed.
(b) Joinder, consent, or agreement of, or notice to, the beneficiary is not required for revocation of a revocable transfer on death deed.
(Amended by Stats. 2021, Ch. 215, Sec. 12. (SB 315) Effective January 1, 2022. Repealed as of January 1, 2032, pursuant to Section 5600.)