SB407C-BENEFICIARY DEEDS
Summary of the House Committee Version of the Bill

SCS SB 407 -- BENEFICIARY DEEDS

SPONSOR:  Mayer (Lipke)

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee on
Judiciary by a vote of 13 to 0.

This substitute specifies that the term "owner," when used to
define a person having a right to create a beneficiary deed, will
include any person, regardless of the terminology used to refer
to the owner in the deed.  The substitute will apply to all
beneficiary deeds, including those executed prior to August 28,
2005.

FISCAL NOTE:  No impact on state funds in FY 2006, FY 2007, and
FY 2008.

PROPONENTS:  Supporters say that beneficiary deeds often use the
word "grantor" instead of "owner," making them invalid.  The bill
will allow those deeds to be valid.

Testifying for the bill were Senator Mayer; Missouri Bar Board of
Governors; and Missouri Land Title Association.

OPPONENTS:  There was no opposition voiced to the committee.

Amy Woods, Senior Legislative Analyst

Copyright (c) Missouri House of Representatives

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Missouri House of Representatives
93rd General Assembly, 1st Regular Session
Last Updated August 25, 2005 at 1:21 pm