Title 29A — UNIFORM PROBATE CODE

Source: SL 2014, ch 133 , § 29.

(4) If the transferor identifies two or more designated beneficiaries to receive concurrent interests in the property, the share of one which lapses or fails for any reason is transferred to the other, or to the others in proportion to the interest of each in the remaining part o…

Source: SL 2014, ch 133 , § 19.

Terms used in §§ 29A-6-101 to 29A-6-114 , inclusive, mean: (1) "Account," any contract of deposit of funds between a depositor and a financial institution, and includes any checking account, savings account, certificate of deposit, share account, and other like arrangement; (2) "…

The provisions of §§ 29A-6-103 to 29A-6-105 , inclusive, concerning beneficial ownership as between parties, or as between parties and P.O.D. payees or beneficiaries of multiple - party accounts, are relevant only to controversies between these persons and their creditors and oth…

(1) A joint account belongs, during the lifetime of all parties, to the parties in proportion to the net contributions by each to the sums on deposit, unless there is clear and convincing evidence of a different intent. (2) A P.O.D. account belongs to the original payee during hi…

(1) Sums remaining on deposit at the death of a party to a joint account belong to the surviving party or parties as against the estate of the decedent unless there is clear and convincing evidence of a different intention at the time the account is created. If there are two or m…

The provisions of § 29A-6-104 as to rights of survivorship are determined by the form of the account at the death of a party. This form may be altered by written order given by a party to the financial institution to change the form of the account or to stop or vary payment under…

Any transfers resulting from the application of § 29A-6-104 are effective by reason of the account contracts involved and §§ 29A-6-101 to 29A-6-113 , inclusive, and are not to be considered as testamentary except to the extent directed by §

No multiple - party account is effective against an estate of a deceased party to transfer to a survivor sums needed to pay debts, taxes, and expenses of administration, including statutory allowances to the surviving spouse, minor children and dependent children, if other assets…

Any financial institution may enter into multiple - party accounts to the same extent that they may enter into single - party accounts. Any multiple - party account may be paid, on request, to any one or more of the parties. No financial institution may be required to inquire as …

Any sums in a joint account may be paid, on request, to any party without regard to whether any other party is incapacitated or deceased at the time the payment is demanded. However, payment may not be made to the personal representative or heirs of a deceased party unless proofs…

Any trust account may be paid, on request, to any trustee. Unless the financial institution has received written notice that the beneficiary has a vested interest not dependent upon his surviving the trustee, payment may be made to the personal representative or heirs of a deceas…

Payment made pursuant to § 29A-6-108 , 29A-6-109 , 29A-6-110 , or 29A-6-114 , discharges the financial institution from all claims for amounts so paid whether or not the payment is consistent with the beneficial ownership of the account as between parties, or beneficiaries, or th…

Without qualifying any other statutory right to setoff or lien and subject to any contractual provision, if a party to a multiple - party account is indebted to a financial institution, the financial institution has a right to setoff against the account in which the party has or …

(a) A provision for a nonprobate transfer on death in an insurance policy, contract of employment, bond, mortgage, promissory note, certificated or uncertificated security, account agreement, custodial agreement, deposit agreement, compensation plan, pension plan, individual reti…

Any P.O.D. account may be paid, on request, to any original party to the account. Payment may be made, on request, to the P.O.D. payee or to the personal representative or heirs of a deceased P.O.D. payee upon presentation to the financial institution of proof of death showing th…

In this part: (1) "Beneficiary form," means a registration of a security which indicates the present owner of the security and the intention of the owner regarding the person who will become the owner of the security upon the death of the owner; (2) "Register," including its deri…

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

A security may be registered in beneficiary form if the form is authorized by this 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 its transfer agent or its office maki…

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. Source: SL 1995, ch 168 , § 6-304.

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. Source: SL 1995, ch 168 , § 6-305.

The designation of a 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 owners without the consen…

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…

(a) 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 requesting registration in beneficiary form assents to the protections given…

(a) 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. (b) This part does not limit the rights of creditors of …

(a) A registering entity offering to accept registrations in beneficiary form may establish the terms and conditions under which it will receive requests (i) for registrations in beneficiary form, and (ii) for implementation of registrations in beneficiary form, including request…

This part applies to registrations of securities in beneficiary form made before or after July 1, 1996, by decedents dying on or after July 1, 1996. Source: SL 1995, ch 168 , § 6-311.

This part may be cited as the South Dakota Real Property Transfer on Death Act. Source: SL 2014, ch 133 , § 1.

Terms used in this part mean: (1) "Beneficiary," a person who receives property under a transfer on death deed; (2) "Designated beneficiary," a person designated to receive property in a transfer on death deed; (3) "Joint owner," any individual who owns property concurrently with…

Property may be transferred to one or more beneficiaries by a transfer on a death deed and is effective at the transferor's death. Source: SL 2014, ch 133 , § 3.

This part does not affect any method of transferring property otherwise permitted under the law of this state. Source: SL 2014, ch 133 , § 4.

A transfer on a death deed is revocable even if the deed or another instrument contains a contrary provision. Source: SL 2014, ch 133 , § 5.

A transfer on a death deed is nontestamentary. Source: SL 2014, ch 133 , § 6.

The capacity required to make or revoke a transfer on a death deed is the same as the capacity required to make a will. Source: SL 2014, ch 133 , § 7.

A transfer on death deed must: (1) Except as otherwise provided in subdivision (2), contain the essential elements and formalities of a properly recordable inter vivos deed as required by the standards of title; (2) State that the transfer to the designated beneficiary is to occu…

A transfer on death deed is effective without: (1) Notice or delivery to or acceptance by the designated beneficiary during the transferor's life; or (2) Consideration. Source: SL 2014, ch 133 , § 9.

Subject to § 29A-6-411 , an instrument is effective to revoke a recorded transfer on death deed, or any part of it, only if the instrument: (1) Is: (a) A transfer on death deed that revokes the deed or part of the deed expressly or by inconsistency; (b) An instrument of revocatio…

If a transfer on death deed is made by more than one transferor: (1) Revocation by one transferor does not affect the deed as to the interest of another transferor; and (2) A deed of joint owners is revoked only if it is revoked by all of the living joint owners. Source: SL 2014,…

After a transfer on death deed is recorded, it may not be revoked by a revocatory act on the deed. Such revocatory act includes burning, tearing, canceling, obliterating, or destroying the deed, or any part of it. Source: SL 2014, ch 133 , § 12.

Nothing in §§ 29A-6-410 to 29A-6-412 , inclusive, limits the effect of an inter vivos transfer of the property. Source: SL 2014, ch 133 , § 13.

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 the right to transfer or encumber the property; (2) Affect an interest or right of a designated beneficiary, even if the designated benef…

Except as otherwise provided in the transfer on death deed, in this section, §§ 29A-2-603 , 29A-2-701 , 29A-2-802 , or 29A-2-803 , revocation by divorce or homicide, survival and simultaneous death, and elective share, on the death of the transferor, the following rules apply to …

Subject to chapter 43-28 , a beneficiary takes the property subject to all conveyances, encumbrances, assignments, contracts, mortgages, liens, and other interests to which the property is subject at the transferor's death. For purposes of this section and chapter 43-28 , the rec…

If a transferor is a joint owner and is: (1) Survived by one or more other joint owners, then the property that is the subject of a deed belongs to the surviving joint owner or owners with right of survivorship; or (2) The last surviving joint owner, then the transfer on death de…

A transfer on death deed transfers property without covenant or warranty of title even if the deed contains a contrary provision. Source: SL 2014, ch 133 , § 18.

A beneficiary may disclaim all or part of the beneficiary's interest as provided by §

Upon the death of the transferor, the beneficiary is liable for the debts and obligations of the deceased transferor under the conditions set forth in §§ 29A-6-421 to 29A-6-424 , inclusive. Source: SL 2014, ch 133 , § 20.

Unless a settlement is made with the beneficiary, a creditor or personal representative of the deceased transferor may institute an action in any court of competent jurisdiction, within six months after the death of the transferor, against the beneficiary setting forth such claim…

In any action instituted by a creditor or personal representative of a deceased transferor, as specified in § 29A-6-421 , the person instituting the action shall allege and prove that there is not sufficient other property standing in the name of the deceased transferor at the ti…