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Proposed amendment to K.S.A.59-3504(c) 1 J. Molina UPDATE: On August 30th  Bob Collins carried the proposal for the Title Standard Committee and stated that the TSC would like to have a consistent position on its proposed amendments to KSA 59a-3504(c). This amendment would clarify the distribution of assets under a Transfer on Death Deed when one of the named beneficiaries dies prior to the decedent.  It is unclear whether the court will distribute assets under the TODD to the remaining beneficiary or if the court will void the entire TODD and force the heirs to open a probate action.  Tim O’Sullivan would like the Real Estate, Probate and Trust section to review the proposal and develop a remedy consistent with the anti-lapse provisions.  Bill Quick made a motion to have the KBA Board of Governor’s request the section develop a consistent remedy to this issue by the December meeting.  Greg Musil seconded the Motion. The motion passed on a voice vote.  The legislative committee recommends to the KBA Board of Governors that the Real Estate, Probate and Trust section develop a remedy for the TODD issue by the December BOG meeting.
by J. Molina
Wednesday, September 11, 2013