Miss. Code § 91-27-23

Current through 6/1/2024
Section 91-27-23 - Effect of transfer-on-death deed during transferor's life

During a transferor's life, a transfer-on-death deed does not:

(1) Affect an interest or right of the transferor or any other owner, including:
(A) The right to transfer or encumber the real property that is the subject of the deed;
(B) Homestead rights in the real property, if applicable; and
(C) Ad valorem tax exemptions, including exemptions for residence homestead, persons sixty-five (65) years of age or older, persons with disabilities, and veterans;
(2) Affect an interest or right of a transferee of the real property that is the subject of the deed, even if the transferee has actual or constructive notice of the deed;
(3) Affect an interest or right of a secured or unsecured creditor or future creditor of the transferor, even if 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, subject to applicable federal law;
(5) Constitute a transfer triggering a "due-on-sale" or similar clause;
(6) Invoke statutory real estate notice or disclosure requirements;
(7) Create a legal or equitable interest in favor of the designated beneficiary; or
(8) Subject the real property to claims or process of a creditor of the designated beneficiary.

Miss. Code § 91-27-23

Added by Laws, 2020, ch. 406, SB 2851,§ 12, eff. 7/1/2020.