03/28/2014 03:30 PM House L&C

         HB 60-UNIFORM REAL PROPERTY TRANSFERS ON DEATH                                                                     
                                                                                                                                
3:31:26 PM                                                                                                                    
                                                                                                                                
CHAIR OLSON announced  that the first order of  business would be                                                               
HOUSE BILL NO.  60, "An Act adopting and relating  to the Uniform                                                               
Real Property Transfer on Death Act."                                                                                           
                                                                                                                                
CHAIR  OLSON removed  his  objection [Version  C  was before  the                                                               
committee].                                                                                                                     
                                                                                                                                
3:32:03 PM                                                                                                                    
                                                                                                                                
REPRESENTATIVE   MAX   GRUENBERG,   Alaska   State   Legislature,                                                               
explained  that HB  60 is  a Uniform  Real Property  Transfers on                                                               
Death Act  and will allow  people to  sign a deed  effective upon                                                               
their death.   The deed can  be revoked later or  superseded with                                                               
another deed; a person can disclaim  it so long as it is recorded                                                               
so the chain  of title is very  clear.  A "wild deed  will," or a                                                               
will that is  not recorded, will not generally supersede  it.  He                                                               
reported  21  states  have  adopted  this  and  four  others  are                                                               
considering it.   It is  now part of  the uniform act  with South                                                               
Dakota being the most recent state  to adopt these changes.  This                                                               
bill will help a  lot of people and AARP has  endorsed it, and he                                                               
just  received a  letter from  the  Commission on  Aging and  the                                                               
Alaska Association of  Realtors, Inc. who are  also endorsing the                                                               
bill.   He is not  aware of any opposition  unless it would  be a                                                               
few lawyers  afraid of losing  a little business.   He reiterated                                                               
that  this  should help  people  with  estate planning  and  will                                                               
continue to "tweak" the bill in the next committee of referral.                                                                 
                                                                                                                                
3:33:53 PM                                                                                                                    
                                                                                                                                
CHAIR  OLSON,  after first  determining  no  one else  wished  to                                                               
testify, closed public testimony on HB 60.                                                                                      
                                                                                                                                
3:34:07 PM                                                                                                                    
                                                                                                                                
REPRESENTATIVE JOHNSON moved  to report HB 60, Version  C, out of                                                               
committee  with individual  recommendations and  the accompanying                                                               
fiscal notes.   There  being no objection,  the CSHB  60(L&C) was                                                               
reported from the House Labor & Commerce Committee.