Title 18-C, Title 18-C

1. Single-party or multiple-party accounts. An account may be for a single party or multiple parties. A multiple-party account may be with or without a right of survivorship between the parties. Subject to section 6-212, subsection 3, either a single-party account or a multiple-p…

1. Form. A contract of deposit that contains provisions in substantially the following form establishes the type of account provided, and the account is governed by the provisions of this Part applicable to an account of that type. UNIFORM SINGLE-PARTY OR MULTIPLE-PARTY ACCOUNT F…

1. Designation of agent by all parties. By a writing signed by all parties, the parties may designate as agent of all parties on an account a person other than a party. 2. Disability or incapacity. Unless the terms of an agency designation provide that the authority of the agent …

The provisions of subpart 2 concerning beneficial ownership as between parties or as between parties and beneficiaries apply only to controversies between those persons and their creditors and other successors and do not apply to the right of those persons to payment as determine…

1. "Net contribution" defined. As used in this section, "net contribution" of a party means the sum of all deposits to an account made by or for the party, less all payments from the account made to or for the party that have not been paid to or applied to the use of another part…

1. Multiple-party account. Except as otherwise provided in this Part, on death of a party sums on deposit in a multiple-party account belong to the surviving party or parties. If 2 or more parties survive and one is the surviving spouse of the decedent, the amount to which the de…

1. Rights determined by terms of account. Rights at the death of a party under section 6-212 are determined by the terms of the account at the death of the party. A party may alter the terms of the account by a notice signed by the party and given to the financial institution to …

Except as provided in Article 2, Part 2 or as a consequence of and to the extent directed by section 6‑102, a transfer resulting from the application of section 6‑212 is effective by reason of the terms of the account involved and this Part and is not testamentary or subject to A…

A financial institution may enter into a contract of deposit for a multiple-party account to the same extent as it may enter into a contract of deposit for a single-party account, and may provide for a POD designation and an agency designation in either a single-party account or …

A financial institution, on request, may pay sums on deposit in a multiple-party account to: [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 1. One or more of the parties. One or more of the parties, whether or not another party is disabled, incapacitated o…

A financial institution, on request, may pay sums on deposit in an account with a POD designation to: [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 1. One or more of the parties. One or more of the parties, whether or not another party is disabled, incapa…

A financial institution, on request of an agent under an agency designation for an account, may pay to the agent sums on deposit in the account, whether or not a party is disabled, incapacitated or deceased when the request is made or received and whether or not the authority of …

If a financial institution is required or permitted to make payment pursuant to this Part to a minor designated as a beneficiary, payment may be made pursuant to the Maine Uniform Transfers to Minors Act.

1. Payments in accordance with terms of account. Payment made pursuant to this Part in accordance with the terms of the account discharges the financial institution from all claims for amounts so paid, whether or not the payment is consistent with the beneficial ownership of the …

Without qualifying any other statutory right to setoff or lien and subject to any contractual provision, if a party is indebted to a financial institution, the financial institution has a right to setoff against the account. The amount of the account subject to setoff is the prop…

As used in this Part, unless the context otherwise indicates, the following terms have the following meanings. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 1. Beneficiary form. "Beneficiary form" means a registration of a security that indicates the pres…

Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by 2 or more individuals with right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form. Multiple owners of a security registe…

A security may be registered in beneficiary form if the form is authorized by this Part or a similar statute of the state of organization of the issuer or registering entity, the location of the registering entity's principal office, the office of the registering entity's transfe…

A security, whether evidenced by certificate or account, is registered in beneficiary form when the registration includes a designation of a beneficiary to take the ownership at the death of the owner or the deaths of all multiple owners.

Registration in beneficiary form may be shown by the words "transfer on death" or the abbreviation "TOD," or by the words "pay on death" or the abbreviation "POD," after the name of the registered owner and before the name of a beneficiary.

The designation of a transfer on death, or "TOD," beneficiary on a registration in beneficiary form has no effect on ownership until the owner's death. A registration of a security in beneficiary form may be canceled or changed at any time by the sole owner or all then-surviving …

On death of a sole owner or the last to die of all multiple owners, ownership of securities registered in beneficiary form passes to the beneficiary or beneficiaries who survive all owners. On proof of death of all owners and compliance with any applicable requirements of the reg…

1. Security registration in beneficiary form not required; protections. A registering entity is not required to offer or to accept a request for security registration in beneficiary form. If a registration in beneficiary form is offered by a registering entity, the owner requesti…

A transfer on death resulting from a registration in beneficiary form is effective by reason of the contract regarding the registration between the owner and the registering entity and this Part and is not testamentary.

1. Terms and conditions. A registering entity offering to accept registrations in beneficiary form may establish the terms and conditions under which it will receive requests: A. For registrations in beneficiary form; and [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B,…

This Part applies to registrations of securities in beneficiary form made before, on or after September 1, 2019 by decedents dying on or after September 1, 2019.

This Part may be known and cited as "the Uniform Real Property Transfer on Death Act."

As used in this Part, unless the context otherwise indicates, the following terms have the following meanings. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 1. Beneficiary. "Beneficiary" means a person that receives property under a transfer on death deed…

This Part applies to a transfer on death deed made before, on or after September 1, 2019 by a transferor dying on or after September 1, 2019.

This Part does not affect any method of transferring property otherwise permitted under the law of this State.

An individual may transfer for no consideration property to one or more beneficiaries effective at the transferor's death by a transfer on death deed.

A transfer on death deed is revocable even if the deed or another instrument contains a contrary provision.

A transfer on death deed is nontestamentary.

1. Capacity. The capacity required to make or revoke a transfer on death deed is the same as the capacity required to make a will. 2. Undue influence. In addition to any other criminal or civil causes of action or relief at law or equity, Title 33, chapter 20 applies to transfers…

A transfer on death deed: [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 1. Essential elements and formalities. Except as otherwise provided in subsection 2, must contain the essential elements and formalities of a properly recordable inter vivos deed; 2. …

A transfer on death deed is effective without: [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 1. Notice, delivery or acceptance. Notice or delivery to or acceptance by the designated beneficiary during the transferor's life; or 2. Consideration. Considerat…

1. Revocation by instrument. Subject to subsection 2, an instrument is effective to revoke a recorded transfer on death deed, or any part of it, only if the instrument: A. Is one of the following: (1) A transfer on death deed that revokes the deed or part of the deed expressly or…

During a transferor's life, a transfer on death deed does not: [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 1. Affect interest or right of transferor or other owner. Affect an interest or right of the transferor or any other owner, including the right to…

1. Upon death of transferor. Except as otherwise provided in the transfer on death deed, in this section or in section 2‑507, 2‑603, 2‑802 or 2‑805 or in Article 2, Part 2, on the death of the transferor, the following rules apply to property that is the subject of a transfer on …

A beneficiary who takes under a transfer on death deed may file for recording in the registry of deeds in the county where the real property is located a notice of death affidavit to confirm title following the death of the transferor. The notice of death affidavit must contain t…

A beneficiary may disclaim all or part of the beneficiary's interest as provided by Article 2, Part 9.

A beneficiary of a transfer on death deed is liable for an allowed claim against the transferor's probate estate and statutory allowances to a surviving spouse and children to the extent provided in section 6-102.

The following template may be used to create a transfer on death deed. This template is not intended to be printed and recorded in its current format. The other sections of this Part govern the effect of this or any other instrument used to create a transfer on death deed.REVOCAB…

The following template may be used to create an instrument of revocation under this Part. This template is not intended to be printed and recorded in its current format. The other sections of this Part govern the effect of this or any other instrument used to revoke a transfer on…

In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among the states that enact it.

This Part modifies, limits and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 United States Code, Section 7001, et seq., but does not modify, limit or supersede Section 101(c) of that Act, 15 United States Code, Section 7001(c), or authorize …