Missouri Laws 461.027 – Transferor may directly transfer property to a transferee to hold as owner ..
Current as of: 2023 | Check for updates
|
Other versions
1. A transferor of property, with or without consideration, may directly transfer the property to a transferee to hold as owner in beneficiary form.
2. A transferee under an instrument described in subsection 1 of this section shall be the owner of the property for all purposes and shall have all the rights to the property otherwise provided by law to owners, including the right to revoke or change the beneficiary designation.
Terms Used In Missouri Laws 461.027
- 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
- Property: includes real and personal property. See Missouri Laws 1.020
3. A direct transfer of property to a transferee to hold as owner in beneficiary form is effective when the writing perfecting the transfer becomes effective to make the transferee the owner.