2012 Massachusetts General Laws
PART II REAL AND PERSONAL PROPERTY AND DOMESTIC RELATIONS(Chapters 183 through 210)
TITLE II DESCENT AND DISTRIBUTION, WILLS, ESTATES OF DECEASED PERSONS AND ABSENTEES, GUARDIANSHIP, CONSERVATORSHIP AND TRUSTS
CHAPTER 201E UNIFORM TRANSFER ON DEATH SECURITY REGISTRATION ACT
Section 201 Rights of survivor beneficiaries

[ Text of section effective until March 31, 2012. Repealed by 2008, 521, Sec. 24. See 2008, 521, Sec. 44 as amended by 2010, 409, Sec. 23 and 2011, 224.]

Section 201. 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 survived 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, and if no anti-lapse statute applies, the security belongs to the estate of the deceased sole owner or the estate of the last to die of all multiple owners.