SENATE CONCURRENT RESOLUTION NO. 89

(By Senators Palumbo, Wills, Beach, Browning, Foster, Jenkins, Kirkendoll, Klempa, Minard, Snyder, Tucker, Williams, Barnes, K. Facemyer and Nohe)

[Originating in the Committee on the Judiciary]

Requesting the Joint Committee on Government and Finance to study the need and benefits of implementing a transfer on death deed and the best process for doing so.

    Whereas, The Legislature finds that a death in the family is an event that is often difficult to plan for and there is often confusion as to how to best plan and prepare for a death in the family; and

    Whereas, The Legislature finds that creating a mechanism commonly known as a transfer on death deed may be an effective and efficient tool for transferring property upon death; and

    Whereas, The Legislature finds that the specific requirements in the transfer on death deed are of great importance and a clear statute from the Legislature is crucial to creating a functional process for transfer on death deeds; and

    Whereas, The Legislature finds verifying and keeping record of all transfer on death deeds is of great importance and must be done in a manner that allows for easily finding the documents; and

    Whereas, The Legislature finds that in finalizing a death deed certain requirements may be necessary to properly effectuate the transfer; and

    Whereas, The Legislature finds that truthfulness in a transfer on death deed is crucial and, therefore, it may be necessary to create punishment for dishonesty on such documents; and

    Whereas, The Legislature finds that a study is necessary to craft the most comprehensive and successful tool to finalize a transfer on death deed; therefore, be it

    Resolved by the Legislature of West Virginia:

    That the Joint Committee on Government and Finance is hereby requested to study the need and benefits of implementing a transfer on death deed and the best process for doing so; and, be it

    Further Resolved, That the Joint Committee on Government and Finance study the creation of a transfer on death deed and the best way to implement the requirements, details, recordkeeping, revocation process, transfer, finalization, other necessary standards, characteristics and ramifications of the transfer on death deed; and, be it

    Further Resolved, That the Joint Committee on Government and Finance report to the regular session of the Legislature, 2013, on its findings, conclusions and recommendations together with drafts of any legislation necessary to effectuate its recommendations; and, be it

    Further Resolved, That the expenses necessary to conduct this study, to prepare a report and to draft necessary legislation be paid from legislative appropriations to the Joint Committee on Government and Finance.