reglab/statecodes huggingface dataset:
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 2: MULTIPLE-PARTY ACCOUNTS › Subpart 1: DEFINITIONS AND GENERAL PROVISIONS › 18-C §6-202. Limitation on scope of Part

§6-202. Limitation on scope of Part
This Part does not apply to:   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
1.  Business purpose.
An account established for a partnership, joint venture or other organization for a business purpose;
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
2.  Controlled by agent or trustee.
An account controlled by one or more persons as an agent or trustee for a corporation, unincorporated association or charitable or civic organization; or
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
3.  Other relationship.
A fiduciary or trust account in which the relationship is established other than by the terms of the account.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 2: MULTIPLE-PARTY ACCOUNTS › Subpart 1: DEFINITIONS AND GENERAL PROVISIONS › 18-C §6-203. Types of account; existing accounts

§6-203. Types of account; existing accounts
1.  Single-party or multiple-party accounts.
An account may be for a single party or multiple parties. A multiple-party account may be with or without a right of survivorship between the parties. Subject to section 6-212, subsection 3, either a single-party account or a multiple-party account may have a POD designation, an agency designation or both.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
2.  Accounts governed by this Part.
An account established before, on or after September 1, 2019, whether in the form prescribed in section 6-204 or in any other form, is either a single-party account or a multiple-party account, with or without right of survivorship and with or without a POD designation or an agency designation, within the meaning of this Part and is governed by this Part.
[PL 2019, c. 417, Pt. A, §102 (AMD).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. A, §102 (AMD). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 2: MULTIPLE-PARTY ACCOUNTS › Subpart 1: DEFINITIONS AND GENERAL PROVISIONS › 18-C §6-204. Forms

§6-204. Forms
1.  Form.
A contract of deposit that contains provisions in substantially the following form establishes the type of account provided, and the account is governed by the provisions of this Part applicable to an account of that type.
UNIFORM SINGLE-PARTY OR MULTIPLE-PARTY ACCOUNT FORM
PARTIES [Name One or More Parties]:
....................................................
....................................................
OWNERSHIP [Select One and Initial]:
................... SINGLE-PARTY ACCOUNT
................... MULTIPLE-PARTY ACCOUNT
Parties own account in proportion to net contributions unless there is clear and convincing evidence of a different intent.
RIGHTS AT DEATH [Select One and Initial]:
................... SINGLE-PARTY ACCOUNT
At death of party, ownership passes as part of party's estate.
................... SINGLE-PARTY ACCOUNT WITH POD (PAY ON DEATH) DESIGNATION
[Name One or More Beneficiaries]:
....................................................
....................................................
At death of party, ownership passes to POD beneficiaries and is not part of party's estate.
................... MULTIPLE-PARTY ACCOUNT WITH RIGHT OF SURVIVORSHIP
At death of party, ownership passes to surviving parties.
................... MULTIPLE-PARTY ACCOUNT WITH RIGHT OF SURVIVORSHIP AND POD (PAY ON DEATH) DESIGNATION
[Name One or More Beneficiaries]:
....................................................
....................................................
At death of last surviving party, ownership passes to POD beneficiaries and is not part of last surviving party's estate.
................... MULTIPLE-PARTY ACCOUNT WITHOUT RIGHT OF SURVIVORSHIP
At death of party, deceased party's ownership passes as part of deceased party's estate.
AGENCY (POWER OF ATTORNEY) DESIGNATION [Optional]
Agents may make account transactions for parties but have no ownership or rights at death unless named as POD beneficiaries.
[To Add Agency Designation to Account, Name One or More Agents]:
....................................................
....................................................
[Select One and Initial]:
............... AGENCY DESIGNATION SURVIVES DISABILITY OR INCAPACITY OF PARTIES
............... AGENCY DESIGNATION TERMINATES ON DISABILITY OR INCAPACITY OF PARTIES
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
2.  Depositor's intent.
A contract of deposit that does not contain provisions in substantially the form provided in subsection 1 is governed by the provisions of this Part applicable to the type of account that most nearly conforms to the depositor's intent.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 2: MULTIPLE-PARTY ACCOUNTS › Subpart 1: DEFINITIONS AND GENERAL PROVISIONS › 18-C §6-205. Designation of agent

§6-205. Designation of agent
1.  Designation of agent by all parties.
By a writing signed by all parties, the parties may designate as agent of all parties on an account a person other than a party.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
2.  Disability or incapacity.
Unless the terms of an agency designation provide that the authority of the agent terminates on disability or incapacity of a party, the agent's authority survives disability and incapacity. The agent may act for a disabled or incapacitated party until the authority of the agent is terminated.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
3.  Death.
Death of the sole party or last surviving party terminates the authority of an agent.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 2: MULTIPLE-PARTY ACCOUNTS › Subpart 1: DEFINITIONS AND GENERAL PROVISIONS › 18-C §6-206. Applicability of Part

§6-206. Applicability of Part
The provisions of subpart 2 concerning beneficial ownership as between parties or as between parties and beneficiaries apply only to controversies between those persons and their creditors and other successors and do not apply to the right of those persons to payment as determined by the terms of the account. Subpart 3 governs the liability and set-off rights of financial institutions that make payments pursuant to subpart 3.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 2: MULTIPLE-PARTY ACCOUNTS › Subpart 2: OWNERSHIP AS BETWEEN PARTIES AND OTHERS › 18-C §6-211. Ownership during lifetime

§6-211. Ownership during lifetime
1.  "Net contribution" defined.
As used in this section, "net contribution" of a party means the sum of all deposits to an account made by or for the party, less all payments from the account made to or for the party that have not been paid to or applied to the use of another party and a proportionate share of any charges deducted from the account, plus a proportionate share of any interest or dividends earned, whether or not included in the current balance. "Net contribution" includes deposit life insurance proceeds added to the account by reason of death of the party whose net contribution is in question.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
2.  Interest based on net contribution of each party.
During the lifetime of all parties, an account belongs to the parties in proportion to the net contribution of each to the sums on deposit, unless there is clear and convincing evidence of a different intent. As between parties married to each other, in the absence of proof otherwise the net contribution of each is presumed to be an equal amount.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
3.  Beneficiary; no right to sums.
A beneficiary in an account having a POD designation has no right to sums on deposit during the lifetime of any party.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
4.  Agent; no beneficial right to sums.
An agent in an account with an agency designation has no beneficial right to sums on deposit.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 2: MULTIPLE-PARTY ACCOUNTS › Subpart 2: OWNERSHIP AS BETWEEN PARTIES AND OTHERS › 18-C §6-213. Alteration of rights

§6-213. Alteration of rights
1.  Rights determined by terms of account.
Rights at the death of a party under section 6-212 are determined by the terms of the account at the death of the party. A party may alter the terms of the account by a notice signed by the party and given to the financial institution to change the terms of the account or to stop or vary payment under the terms of the account. To be effective, the notice must be received by the financial institution during the party's lifetime.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
2.  Right of survivorship not altered by will.
A right of survivorship arising from the express terms of the account, section 6-212 or a POD designation may not be altered by a will.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 2: MULTIPLE-PARTY ACCOUNTS › Subpart 2: OWNERSHIP AS BETWEEN PARTIES AND OTHERS › 18-C §6-214. Accounts and transfers nontestamentary

§6-214. Accounts and transfers nontestamentary
Except as provided in Article 2, Part 2 or as a consequence of and to the extent directed by section 6‑102, a transfer resulting from the application of section 6‑212 is effective by reason of the terms of the account involved and this Part and is not testamentary or subject to Articles 1 to 4.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 2: MULTIPLE-PARTY ACCOUNTS › Subpart 3: PROTECTION OF FINANCIAL INSTITUTIONS › 18-C §6-221. Authority of financial institution

§6-221. Authority of financial institution
A financial institution may enter into a contract of deposit for a multiple-party account to the same extent as it may enter into a contract of deposit for a single-party account, and may provide for a POD designation and an agency designation in either a single-party account or a multiple-party account. A financial institution need not inquire as to the source of a deposit to an account or as to the proposed application of a payment from an account.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 2: MULTIPLE-PARTY ACCOUNTS › Subpart 3: PROTECTION OF FINANCIAL INSTITUTIONS › 18-C §6-222. Payment on multiple-party account

§6-222. Payment on multiple-party account
A financial institution, on request, may pay sums on deposit in a multiple-party account to:   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
1.  One or more of the parties.
One or more of the parties, whether or not another party is disabled, incapacitated or deceased when payment is requested and whether or not the party making the request survives another party; or
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
2.  Personal representative.
The personal representative, if any, or, if there is none, the heirs or devisees of a deceased party if proof of death is presented to the financial institution showing that the deceased party was the survivor of all other persons named on the account either as a party or beneficiary, unless the account is without right of survivorship under section 6-212.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 2: MULTIPLE-PARTY ACCOUNTS › Subpart 3: PROTECTION OF FINANCIAL INSTITUTIONS › 18-C §6-223. Payment on POD designation

§6-223. Payment on POD designation
A financial institution, on request, may pay sums on deposit in an account with a POD designation to:   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
1.  One or more of the parties.
One or more of the parties, whether or not another party is disabled, incapacitated or deceased when the payment is requested and whether or not a party survives another party;
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
2.  Beneficiaries.
The beneficiary or beneficiaries if proof of death is presented to the financial institution showing that the beneficiary or beneficiaries survived all persons named as parties; or
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
3.  Personal representative.
The personal representative, if any, or, if there is none, the heirs or devisees of a deceased party if proof of death is presented to the financial institution showing that the deceased party was the survivor of all other persons named on the account either as a party or beneficiary.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 2: MULTIPLE-PARTY ACCOUNTS › Subpart 3: PROTECTION OF FINANCIAL INSTITUTIONS › 18-C §6-224. Payment to designated agent

§6-224. Payment to designated agent
A financial institution, on request of an agent under an agency designation for an account, may pay to the agent sums on deposit in the account, whether or not a party is disabled, incapacitated or deceased when the request is made or received and whether or not the authority of the agent terminates on the disability or incapacity of a party.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 2: MULTIPLE-PARTY ACCOUNTS › Subpart 3: PROTECTION OF FINANCIAL INSTITUTIONS › 18-C §6-225. Payment to minor

§6-225. Payment to minor
If a financial institution is required or permitted to make payment pursuant to this Part to a minor designated as a beneficiary, payment may be made pursuant to the Maine Uniform Transfers to Minors Act.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 2: MULTIPLE-PARTY ACCOUNTS › Subpart 3: PROTECTION OF FINANCIAL INSTITUTIONS › 18-C §6-226. Discharge

§6-226. Discharge
1.  Payments in accordance with terms of account.
Payment made pursuant to this Part in accordance with the terms of the account 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, beneficiaries or their successors. Payment may be made whether or not a party, beneficiary or agent is disabled, incapacitated or deceased when payment is requested, received or made.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
2.  Payments after receipt of notice.
Protection under this section does not extend to payments made after a financial institution has received written notice from a party, or from the personal representative, surviving spouse or heir or devisee of a deceased party, to the effect that payments in accordance with the terms of the account, including one having an agency designation, should not be permitted, and the financial institution has had a reasonable opportunity to act on the notice when the payment is made. Unless the notice is withdrawn by the person giving it, the successor of any deceased party must concur in a request for payment if the financial institution is to be protected under this section. Unless a financial institution has been served with process in an action or proceeding, no other notice or other information shown to have been available to the financial institution affects its right to protection under this section.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
3.  Notice of dispute; refusal to make payments.
A financial institution that receives written notice pursuant to this section that a dispute exists as to the rights of the parties may refuse, without liability, to make payments in accordance with the terms of the account.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
4.  Rights of parties in disputes.
Protection of a financial institution under this section does not affect the rights of parties in disputes between themselves or their successors concerning the beneficial ownership of sums on deposit in accounts or payments made from accounts.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 2: MULTIPLE-PARTY ACCOUNTS › Subpart 3: PROTECTION OF FINANCIAL INSTITUTIONS › 18-C §6-227. Setoff

§6-227. Setoff
Without qualifying any other statutory right to setoff or lien and subject to any contractual provision, if a party is indebted to a financial institution, the financial institution has a right to setoff against the account. The amount of the account subject to setoff is the proportion to which the party is, or immediately before death was, beneficially entitled under section 6-211 or, in the absence of proof of that proportion, an equal share with all parties.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 3: TRANSFER ON DEATH SECURITY REGISTRATION › 18-C §6-301. Definitions

§6-301. Definitions
As used in this Part, unless the context otherwise indicates, the following terms have the following meanings.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
1.  Beneficiary form.
"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.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
2.  Register.
"Register" 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.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
3.  Registering entity.
"Registering entity" means a person that 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.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
4.  Security.
"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.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
5.  Security account.
"Security account" means:
A. A reinvestment account associated with a security, a securities account with a broker, a cash balance in a brokerage account, cash, 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; or   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
B. 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.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 3: TRANSFER ON DEATH SECURITY REGISTRATION › 18-C §6-302. Registration in beneficiary form; sole or joint tenancy ownership

§6-302. Registration in beneficiary form; sole or joint tenancy ownership
Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by 2 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 and not as tenants in common.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 3: TRANSFER ON DEATH SECURITY REGISTRATION › 18-C §6-303. Registration in beneficiary form; applicable law

§6-303. Registration in beneficiary form; applicable law
A security may be registered in beneficiary form if the form is authorized by this Part 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 the registering entity's transfer agent or the registering entity's office making the registration or by this Part 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 Part 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.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 3: TRANSFER ON DEATH SECURITY REGISTRATION › 18-C §6-304. Origination of registration in beneficiary form

§6-304. Origination of registration in beneficiary form
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.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 3: TRANSFER ON DEATH SECURITY REGISTRATION › 18-C §6-305. Form of registration in beneficiary form

§6-305. Form of registration in beneficiary form
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.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 3: TRANSFER ON DEATH SECURITY REGISTRATION › 18-C §6-306. Effect of registration in beneficiary form

§6-306. Effect of registration in beneficiary form
The designation of a transfer on death, or "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.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 3: TRANSFER ON DEATH SECURITY REGISTRATION › 18-C §6-307. Ownership on death of owner

§6-307. Ownership on death of owner
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 survived 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.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 3: TRANSFER ON DEATH SECURITY REGISTRATION › 18-C §6-308. Protection of registering entity

§6-308. Protection of registering entity
1.  Security registration in beneficiary form not required; protections.
A registering entity is not required to offer or to accept a request 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.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
2.  Registration to be implemented on death.
By accepting a request for registration of a security in beneficiary form, the registering entity agrees that the registration will be implemented on death of the deceased owner as provided in this Part.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
3.  Registering entity discharged from all claims; exceptions.
A registering entity is discharged from all claims to a security by the estate, creditors, heirs or devisees of a deceased owner if the registering entity registers a transfer of the security in accordance with section 6-307 and does so in good faith reliance on:
A. The registration;   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
B. This Part; and   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
C. Information provided to the registering entity by affidavit of the personal representative of the deceased owner, by the surviving beneficiary or by the surviving beneficiary's representatives or other information available to the registering entity.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
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 affects its right to protection under this Part.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
4.  Rights of beneficiaries in disputes.
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.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 3: TRANSFER ON DEATH SECURITY REGISTRATION › 18-C §6-309. Nontestamentary transfer on death

§6-309. Nontestamentary transfer on death
A 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.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 3: TRANSFER ON DEATH SECURITY REGISTRATION › 18-C §6-310. Terms, conditions and forms for registration

§6-310. Terms, conditions and forms for registration
1.  Terms and conditions.
A registering entity offering to accept registrations in beneficiary form may establish the terms and conditions under which it will receive requests:
A. For registrations in beneficiary form; and   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
B. For implementation of registrations in beneficiary form, including requests for cancellation of previously registered transfer on death, or "TOD," beneficiary designations and requests for reregistration to effect a change of beneficiary.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
The terms and conditions so established may provide for proving death, avoiding or resolving any problems concerning fractional shares, designating primary and contingent beneficiaries and substituting a named beneficiary's descendants to take 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.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
2.  Forms.
The following are illustrations of registrations in beneficiary form that a registering entity may authorize:
A. Sole owner - sole beneficiary: John S. Brown TOD (or POD) John S. Brown Jr.;   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
B. Multiple owners - sole beneficiary: John S. Brown Mary B. Brown JT TEN TOD John S. Brown Jr.; and   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
C. 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.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 3: TRANSFER ON DEATH SECURITY REGISTRATION › 18-C §6-311. Application of Part

§6-311. Application of Part
This Part applies to registrations of securities in beneficiary form made before, on or after September 1, 2019 by decedents dying on or after September 1, 2019.   [PL 2019, c. 417, Pt. B, §8 (AMD).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §8 (AMD). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT › 18-C §6-401. Short title

§6-401. Short title
This Part may be known and cited as "the Uniform Real Property Transfer on Death Act."   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT › 18-C §6-402. Definitions

§6-402. Definitions
As used in this Part, unless the context otherwise indicates, the following terms have the following meanings.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
1.  Beneficiary.
"Beneficiary" means a person that receives property under a transfer on death deed.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
2.  Designated beneficiary.
"Designated beneficiary" means a person designated to receive property in a transfer on death deed.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
3.  Joint owner.
"Joint owner" means an individual who owns property concurrently with one or more other individuals with a right of survivorship. "Joint owner" includes a joint tenant. "Joint owner" does not include a tenant in common without a right of survivorship.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
4.  Person.
"Person" means an individual, corporation, estate, trustee, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency or instrumentality or any other legal or commercial entity.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
5.  Property.
"Property" means an interest in real property located in this State that is transferable on the death of the owner.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
6.  Transfer on death deed.
"Transfer on death deed" means a deed authorized under this Part.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
7.  Transferor.
"Transferor" means an individual who makes a transfer on death deed.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT › 18-C §6-403. Applicability

§6-403. Applicability
This Part applies to a transfer on death deed made before, on or after September 1, 2019 by a transferor dying on or after September 1, 2019.   [PL 2019, c. 417, Pt. B, §9 (AMD).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §9 (AMD). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT › 18-C §6-404. Nonexclusivity

§6-404. Nonexclusivity
This Part does not affect any method of transferring property otherwise permitted under the law of this State.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT › 18-C §6-405. Transfer on death deed authorized

§6-405. Transfer on death deed authorized
An individual may transfer for no consideration property to one or more beneficiaries effective at the transferor's death by a transfer on death deed.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT › 18-C §6-406. Transfer on death deed revocable

§6-406. Transfer on death deed revocable
A transfer on death deed is revocable even if the deed or another instrument contains a contrary provision.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT › 18-C §6-407. Transfer on death deed nontestamentary

§6-407. Transfer on death deed nontestamentary
A transfer on death deed is nontestamentary.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT › 18-C §6-408. Capacity of transferor; undue influence of transferor

§6-408. Capacity of transferor; undue influence of transferor
1.  Capacity.
The capacity required to make or revoke a transfer on death deed is the same as the capacity required to make a will.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
2.  Undue influence.
In addition to any other criminal or civil causes of action or relief at law or equity, Title 33, chapter 20 applies to transfers under this Part.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT › 18-C §6-409. Requirements

§6-409. Requirements
A transfer on death deed:   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
1.  Essential elements and formalities.
Except as otherwise provided in subsection 2, must contain the essential elements and formalities of a properly recordable inter vivos deed;
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
2.  Death of transferor.
Must state that the transfer to the designated beneficiary is to occur at the transferor's death; and
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
3.  Recorded before transferor's death.
Must be recorded before the transferor's death in the public records in the registry of deeds in the county where the property is located.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT › 18-C §6-410. Notice, delivery, acceptance, consideration not required

§6-410. Notice, delivery, acceptance, consideration not required
A transfer on death deed is effective without:   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
1.  Notice, delivery or acceptance.
Notice or delivery to or acceptance by the designated beneficiary during the transferor's life; or
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
2.  Consideration.
Consideration.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT › 18-C §6-411. Revocation by instrument authorized; revocation by act not permitted

§6-411. Revocation by instrument authorized; revocation by act not permitted
1.  Revocation by instrument.
Subject to subsection 2, an instrument is effective to revoke a recorded transfer on death deed, or any part of it, only if the instrument:
A. Is one of the following:
(1) A transfer on death deed that revokes the deed or part of the deed expressly or by inconsistency;
(2) An instrument of revocation that expressly revokes the deed or part of the deed; or
(3) An inter vivos deed that expressly revokes the transfer on death deed or part of the deed; and   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
B. Is acknowledged by the transferor after the acknowledgment of the deed being revoked and recorded before the transferor's death in the registry of deeds in the county where the deed is recorded.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
2.  More than one transferor.
If a transfer on death deed is made by more than one transferor:
A. Revocation by a transferor does not affect the deed as to the interest of another transferor; and   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
B. A deed of joint owners is revoked only if it is revoked by all of the living joint owners.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
3.  Revocation after recorded.
After a transfer on death deed is recorded, it may not be revoked by a revocatory act on the deed.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
4.  Inter vivos transfer.
As described in section 6-412, this section does not limit the effect of an inter vivos transfer of the property.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
2023 Maine Revised Statutes › TITLE 18-C: PROBATE CODE › Article 6: NONPROBATE TRANSFERS ON DEATH › Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT › 18-C §6-412. Effect of transfer on death deed during transferor's life

§6-412. Effect of transfer on death deed during transferor's life
During a transferor's life, a transfer on death deed does not:   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
1.  Affect interest or right of transferor or other owner.
Affect an interest or right of the transferor or any other owner, including the right to transfer or encumber the property;
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
2.  Affect interest or right of transferee.
Affect an interest or right of a transferee, even if the transferee has actual or constructive notice of the deed;
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
3.  Affect interest or right of creditor.
Affect an interest or right of a secured or unsecured creditor or future creditor of the transferor, even if the creditor has actual or constructive notice of the deed;
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
4.  Affect eligibility or public assistance.
Affect the transferor's or designated beneficiary's eligibility for any form of public assistance;
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
5.  Create legal or equitable interest.
Create a legal or equitable interest in favor of the designated beneficiary; or
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
6.  Subject the property to claims or process.
Subject the property to claims or process of a creditor of the designated beneficiary.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).