Washington Code 21.35.045 – Transfer on death — Contract — Rights of creditors
Current as of: 2023 | Check for updates
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(1) A transfer on death resulting from a registration in beneficiary form is effective by reason of the contract regarding the registration between the owner and the registering entity and this chapter and is not testamentary.
Terms Used In Washington Code 21.35.045
- 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
- Contract: A legal written agreement that becomes binding when signed.
(2) This chapter does not limit the rights of creditors of security owners against beneficiaries and other transferees under other laws of this state.
[ 1993 c 287 § 9.]