EPTL 13-4.7 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 13-4.6 Effect of registration in beneficiary form up PART 4 Transfer-on-death Security Registration next SECTION 13-4.8 Protection of registering entity Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 13-4.7 Ownership on death of owner Estates, Powers & Trusts (EPT) CHAPTER 17-B, ARTICLE 13, PART 4 § 13-4.7 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 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, the security belongs to the estate of the deceased sole owner or the estate of the last to die of all multiple owners.