Kansas Statutes 59-3504. Transfer-on-death of interest in real estate; vesting of ownership in beneficiary; grantee beneficiary; judicial proceedings subject to probate code to determine descent; application of section
Terms Used In Kansas Statutes 59-3504
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.
- Deed: is a pplied to an instrument conveying lands but does not imply a sealed instrument. See Kansas Statutes 77-201
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Per stirpes: The legal means by which the children of a decedent, upon the death of an ancestor at a level above that of the decedent, receive by right of representation the share of the ancestor
- Property: includes personal and real property. See Kansas Statutes 77-201
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
(a) Title to the interest in real estate recorded in transfer-on-death form shall vest in the designated grantee beneficiary or beneficiaries on the death of the record owner.
(b) Grantee beneficiaries of a transfer-on-death deed take the record owner’s interest in the real estate at death subject to all conveyances, assignments, contracts, mortgages, liens and security pledges made by the record owner or to which the record owner was subject during the record owner’s lifetime including, but not limited to, any executory contract of sale, option to purchase, lease, license, easement, mortgage, deed of trust or lien, claims of the state of Kansas for medical assistance, as defined in Kan. Stat. Ann. § 39-702, and amendments thereto, pursuant to Kan. Stat. Ann. § 39-709, and amendments thereto, and to any interest conveyed by the record owner that is less than all of the record owner’s interest in the property.
(c) (1) Except as provided in subsection (c)(2), if a grantee beneficiary dies prior to the death of the record owner and an alternative grantee beneficiary has not been designated on the deed to succeed to such deceased grantee beneficiary’s interest, the transfer, with respect to any such deceased grantee beneficiary, shall lapse.
(2) When the transfer-on-death deed was not made contingent on such grantee beneficiary surviving the record owner and a deceased grantee beneficiary leaves at least one then-surviving issue of such beneficiary upon the death of the owner when such interest would otherwise have lapsed under subsection (c)(1), the interest in the real estate shall not lapse and shall vest on such record owner’s death in the then-surviving issue of the deceased grantee beneficiary on a per stirpes basis as successor grantee or grantees.
(d) Any judicial proceeding initiated by an interested party to determine the succession of ownership of real estate of a deceased record owner pursuant to subsection (c) shall be subject tochapter 59 of the Kansas Statutes Annotated, and amendments thereto, to determine descent.
(e) The amendments made to this section by this act shall apply to deeds filed of record on or after July 1, 2023.