Transfer of owner's interest in motor vehicle on owner's death; designation of beneficiary

(1) An owner of a motor vehicle may transfer the owner’s interest in the motor vehicle to a sole beneficiary effective on the owner’s death by designating a beneficiary as provided by Section 63-21-261.

(2) A beneficiary designation is:(a) Subject to Section 63-21-255, revocable and may be changed at any time without the consent of the designated beneficiary as provided by Section 63-21-261;(b) A nontestamentary instrument; and(c) Effective without:(A) Notice or delivery to or acceptance by the designated beneficiary during the owner’s life; or(B) Consideration.

(a) Subject to Section 63-21-255, revocable and may be changed at any time without the consent of the designated beneficiary as provided by Section 63-21-261;

(b) A nontestamentary instrument; and

(c) Effective without:(A) Notice or delivery to or acceptance by the designated beneficiary during the owner’s life; or(B) Consideration.

(A) Notice or delivery to or acceptance by the designated beneficiary during the owner’s life; or

(B) Consideration.

(3) A will may not revoke or supersede a beneficiary designation, regardless of when the will is made.

(4) A designated beneficiary may disclaim the designated beneficiary’s interest in the motor vehicle as provided by applicable law.