Definitions

In this chapter: 1. "Beneficiary" means a person that receives property under a transfer on death deed. 2. "Designated beneficiary" means a person designated to receive property in a transfer on death deed. 3. "Joint owner" means an individual who owns property concurrently with one or more other individuals with a right of survivorship. The term includes a joint tenant and tenant by the entirety. The term does not include a tenant in common. 4. "Property" means an interest in real property located in this state which is transferable on the death of the owner. 5. "Transfer on death deed" means a deed authorized under this chapter. 6. "Transferor" means an individual who makes a transfer on death deed.