Tuesday, January 31, 2012
Jennifer Jiang (UNC - student) has nice piece coming out in the UNC law review, entitled Transfer on Death Deeds: Benefit or Burden? A Proposal for Transfer on Death Deed Legislation in North Carolina. Here's the abstract:
Real property is a unique concept upon which ideas of property ownership and testator rights have been added to form a multifaceted spectrum of law. An individual’s right to own and devise real property is rooted in common law principles and secured by expectations of testamentary freedom. In an effort to protect these rights, owners execute wills and trusts to maintain control of the distribution of their property after death. Once a will has been validated, probate ensures that justice is served by overseeing title transfers, creditor payments, and the distribution of property to beneficiaries. For better or worse, probate has historically been a fixture in property law. But the idea of subjecting one’s relatives and friends to the probate process has prompted some property owners to choose nonprobate methods of transferring real property.
(HT: Al Brophy)