Proposed amendment to K.S.A.59-3504(c)
The Chair of the Title Standard Committee appointed Robert Collins as the Chair of the Sub-committee to prepare a proposed amendment to K.S.A. 59-3504. The members of the committee are Hayden St. John, Topeka, Todd Sheppard, Manhattan, and Randy Barber, Kansas City.
One of the problems discussed at the February meeting was a discussion of a District Judge that if one of the grantee beneficiaries predeceases the record owner, the entire transfer-on- death deed was void. In the past some attorneys believed that in the same situation the deceased grantee beneficiary’s interest lapsed back to the record owner. I have perused the transfer-on-death statutes of various states. I feel that the Colorado Statute solves both problems.
"(5) THE PROVISIONS OF ANY ANTI-LAPSE STATUTE SHALL NOT APPLY TO BENEFICIARY DEEDS. IF ONE OF MULTIPLE GRANTEE-BENEFICIARIES FAIL TO SURVIVE THE OWNER, AND NO PROVISION FOR SUCH CONTINGENCY IS MADE IN THE BENEFICIARY DEED, THE SHARE OF THE DECEASED GRANTEE-BENEFICIARY SHALL BE PROPORTIONATELY ADDED TO AND PASS AS A PART OF THE SHARES OF THE SURVIVING GRANTEE BENEFICIARIES.”
Proposed K.S.A. 3504(c) as follows:
(c) 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 and there are multiple grantee beneficiaries named, the share of the deceased grantee beneficiary shall be proportionately added to and pass as a part of the shares of the surviving grantee beneficiaries. If there is only one grantee beneficiary named and that beneficiary dies prior to the death of the record owners and an alternative grantee beneficiary has not been designated on the deed, the transfer shall be void.
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Last edited Tuesday, July 23, 2013