Kansas Statutes 59-3511. Same; vesting of ownership in beneficiary
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Terms Used In Kansas Statutes 59-3511
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
Ownership of a motor vehicle titled in transfer-on-death form, for which an application for a subsequent certificate of title has not been filed, shall vest in the designated beneficiary or beneficiaries on the death of the owner or the last of the joint tenant with right of survivorship owners, subject to the rights of all lien holders.