2020 District of Columbia Code
Title 19 - Descent, Distribution, and Trusts. [Enacted title]
Chapter 6 - Nonprobate Transfers on Death; Uniform Law
Subchapter III - Uniform TOD Security Registration
§ 19–603.07. Ownership on death of owner
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 registering entity, a security registered in beneficiary form may be reregistered in the name of the beneficiary or beneficiaries who survive the death of all owners. Until division of the security after the death of all owners, multiple beneficiaries surviving the death of all owners hold their interests as tenants in common. If no beneficiary survives the death of all owners, the security belongs to the estate of the deceased sole owner or the estate of the last to die of all multiple owners.
(Apr. 27, 2001, D.C. Law 13-292, § 302(b), 48 DCR 2087.)Section References
This section is referenced in § 19-603.08.Editor's Notes
Uniform Law: This section is based upon § 307 of the Uniform Nonprobate Transfers on Death Act (1991 Act).