This amendment adds notarization and county clerk recording requirements for beneficiary designation forms, creates a new statutory section on transfer-on-death deeds and titles with vehicle-specific provisions, and renumbers all subsequent subsections accordingly.
- Requires that beneficiary designation forms include a notarized signature from the owner(s). (Page 2, line 15)
- Adds a new requirement that beneficiary designation forms be recorded in the office of the county clerk in the county where the vehicle is titled. (Page 2, after line 15)
- Updates references to require that the beneficiary designation form be both executed and recorded before presenting it to the county clerk for title transfer. (Page 2, lines 17, 19-20, and 21)
- Renumbers all existing subsections throughout the statute to accommodate the insertion of new subsection (b) regarding county clerk recording, shifting subsection (b) to (c), (c) to (d), and all subsequent subsections accordingly. (Page 2, lines 8, 12-13; Page 3, lines 9, 12, 19; Page 4, lines 4, 11; Page 5, lines 10, 18; Page 6, lines 1, 5, 32, 34)
- Creates a new statutory section (W.S. 2-18-103) establishing a framework for transfer-on-death deeds and titles for real and titled property, including vehicles, which transfer upon the owner's death to a designated grantee beneficiary subject to existing encumbrances. (Page 6, lines 36-37 and following)
- Adds subsection (p) to the new statute specifying that vehicle title vests in the designated grantee beneficiary only upon the owner's death, and that insurance coverage applicable at the time of death transfers to the beneficiary for up to 60 days unless disclaimed. (Page 6, after line 19)
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