Section 527-12 - Effect of transfer on death deed during transferor's lifeDuring a transferor's life, a transfer on death deed shall not:
(1) Affect an interest or right in the subject property of the transferor or any other owner, including the right to transfer or encumber the subject property;(2) Affect an interest or right in the subject property of a transferee, regardless of whether the transferee has actual or constructive notice of the deed;(3) Affect an interest or right in the subject property of a secured or unsecured creditor or future creditor of the transferor regardless of whether the creditor has actual or constructive notice of the deed;(4) Affect the transferor's or designated beneficiary's eligibility for any form of public assistance;(5) Create a legal or equitable interest in the subject property in favor of the designated beneficiary; or(6) Subject the subject property to claims or process of a creditor of the designated beneficiary.Added by L 2011, c 173, § 1, eff. 7/1/2011.