461.005. Definitions. — In sections 461.003 to 461.081, unless the context otherwise requires, the following terms mean:
(1) "Beneficiary", a person or persons designated or entitled to receive property pursuant to a nonprobate transfer on surviving one or more persons;
(2) "Beneficiary designation", a provision in writing that is not a will that designates the beneficiary of a nonprobate transfer, including the transferee in an instrument that makes the transfer effective on death of the owner, and that complies with the conditions of any governing instrument, the rules of any transferring entity and applicable law;
(3) "Death of the owner", in the case of joint owners, means death of the last surviving owner;
(4) "In proper form", a phrase which applies to a beneficiary designation or a revocation or change thereof, or a request to make, revoke or change a beneficiary designation, which complies with the terms of the governing instrument, the rules of the transferring entity and applicable law, including any requirements with respect to supplemental documents;
(5) "Joint owners", persons who hold property as joint tenants with right of survivorship and a husband and wife who hold property as tenants by the entirety;
(6) "LDPS", an abbreviation of lineal descendants per stirpes which may be used in a beneficiary designation to designate a substitute beneficiary as provided in section 461.045;
(7) "Nonprobate transfer", a transfer of property taking effect upon the death of the owner, pursuant to a beneficiary designation. A nonprobate transfer under sections 461.003 to 461.081 does not include survivorship rights in property held as joint tenants or tenants by the entirety, a transfer to a remainderman on termination of a life tenancy, a transfer under a trust established by an individual, either inter vivos or testamentary, a transfer pursuant to the exercise or nonexercise of a power of appointment, or a transfer made on death of a person who did not have the right to designate his or her estate as the beneficiary of the transfer;
(8) "Owner", a person or persons having a right, exercisable alone or with others, regardless of the terminology used to refer to the owner in any written beneficiary designation, to designate the beneficiary of a nonprobate transfer, and includes joint owners. The provisions of this subdivision shall apply to all beneficiary deeds executed and filed at any time, including, but not limited to, those executed and filed on or before August 28, 2005;
(9) "Ownership in beneficiary form", holding property pursuant to a registration in beneficiary form or other writing that names the owner of the property followed by a transfer on death direction and the designation of a beneficiary;
(10) "Person", living individuals, entities capable of owning property and fiduciaries;
(11) "Proof of death", includes a death certificate or record or report that is prima facie proof or evidence of death under section 472.290;
(12) "Property", any present or future interest in property, real or personal, tangible or intangible, legal or equitable. Property includes a right to direct or receive payment of a debt, money or other benefits due under a contract, account agreement, deposit agreement, employment contract, compensation plan, pension plan, individual retirement plan, employee benefit plan, trust or law, a right to receive performance remaining due under a contract, a right to receive payment under a promissory note or a debt maintained in a written account record, rights under a certificated or uncertificated security, rights under an instrument evidencing ownership of property issued by a governmental agency and rights under a document of title within the meaning of section 400.1-201;
(13) "Registration in beneficiary form", titling of an account record, certificate, or other written instrument evidencing ownership of property in the name of the owner followed by a transfer on death direction and the designation of a beneficiary;
(14) "Security", a certificated or uncertificated security as defined in section 400.8-102, including securities as defined in section 409.401*;
(15) "Transfer on death direction", the phrase "transfer on death to" or the phrase "pay on death to" or the abbreviation "TOD" or "POD" after the name of the owners and before the designation of the beneficiary; and
(16) "Transferring entity", a person who owes a debt or is obligated to pay money or benefits, render contract performance, deliver or convey property, or change the record of ownership of property on the books, records and accounts of an enterprise or on a certificate or document of title that evidences property rights, and includes any governmental agency, business entity or transfer agent that issues certificates of ownership or title to property and a person acting as a custodial agent for an owner's property.
Notes of Decisions
In Re Est. of Hayden, 258 S.W.3d 505 (Mo. Ct. App. 2008).
· cites it 31× “300, outside the Nonprobate Transfers law “because it applies to property received other than by a ‘nonprobate transfer’ as defined in Section 461.005.” 5 The new section 461.300 RSMo 1995 provided that: “[e]aeh beneficiary who receives a nonprobate transfer of a decedent’s…”
Bohr v. Nodaway Valley Bank, 411 S.W.3d 352 (Mo. Ct. App. 2013).
· cites it 34× “It claims the trial court erred in granting summary judgment in favor of Andrea and Franklin on their quiet title action because Missouri’s Nonprobate Transfer Law did not allow Dorothy to transfer fee simple title through a beneficiary deed because she was not an “owner” as…”
In Re Est. of Goldschmidt, 215 S.W.3d 215 (Mo. Ct. App. 2006).
· cites it 8× “Section 461.005(15). Thus, a POD account is a beneficiary designation.”
In Re the Est. of Bruce, 260 S.W.3d 398 (Mo. Ct. App. 2008).
· cites it 6× “Section 461.005(7), RSMo 2000, defines a non probate transfer as "a transfer of property taking effect upon the death of the owner, pursuant to a beneficiary designation," and it does not include "survivorship rights in property held as joint tenants or tenants by the…”
Pippin v. Pippin, 154 S.W.3d 376 (Mo. Ct. App. 2004).
· cites it 8× “Furthermore, in the Nonprobate Transfers Law definitions section, Section 461.005(7), "[n]onprobate transfer" does not include "a transfer made on death of a person who did not have the right to designate his or her estate as the beneficiary of the transfer [.”
Williams v. Hubbard, 455 S.W.3d 426 (Mo. 2015).
· cites it 3× “Because the designation of a POD beneficiary is a “nonprobate transfer” as defined in section § 461.005(7) and (15), Reynolds’ designation of Sandra as the POD beneficiary for UMB CD # 3 is governed by sections 461.”
Cook v. Barnard, 100 S.W.3d 924 (Mo. Ct. App. 2003).
· cites it 4× “This section shall not affect the right of any transferring entity, as defined in section 461.005, to execute a direction of the decedent to make a payment or to make a nonprobate transfer or other transfer described in subsection 1 of this section on death of the decedent, or…”
Gillespie v. Est. of McPherson, 159 S.W.3d 466 (Mo. Ct. App. 2005).
· cites it 2× “An "owner” is defined in Section 461.005(8) as “a person or persons having a right, exercisable alone or with others, to designate the beneficiary of a nonprobate transfer, and includes joint owners.”
Theerman v. Frontenac Bank, 308 S.W.3d 756 (Mo. Ct. App. 2010).
· cites it 2× “” However, it specifically excludes the application of Sections 461.003 to 461.081 “survivorship rights in property held as joint tenants.”
Mo. Rev. Stat. § 461.005(15): 1 case
In Re Est. of Goldschmidt, 215 S.W.3d 215 (Mo. Ct. App. 2006).
“Section 461.005(15). Thus, a POD account is a beneficiary designation.”
Mo. Rev. Stat. § 461.005(2): 4 cases
In Re Est. of Goldschmidt, 215 S.W.3d 215 (Mo. Ct. App. 2006).
“Section 461.005(15). Thus, a POD account is a beneficiary designation.”
Bohr v. Nodaway Valley Bank, 411 S.W.3d 352 (Mo. Ct. App. 2013).
“It claims the trial court erred in granting summary judgment in favor of Andrea and Franklin on their quiet title action because Missouri’s Nonprobate Transfer Law did not allow Dorothy to transfer fee simple title through a beneficiary deed because she was not an “owner” as…”
Mo. Rev. Stat. § 461.005(4)(13)(15)(16): 1 case
In Re Est. of Goldschmidt, 215 S.W.3d 215 (Mo. Ct. App. 2006).
“Section 461.005(15). Thus, a POD account is a beneficiary designation.”
Mo. Rev. Stat. § 461.005(5): 3 cases
In Re Est. of Hayden, 258 S.W.3d 505 (Mo. Ct. App. 2008).
“300, outside the Nonprobate Transfers law “because it applies to property received other than by a ‘nonprobate transfer’ as defined in Section 461.005.” 5 The new section 461.300 RSMo 1995 provided that: “[e]aeh beneficiary who receives a nonprobate transfer of a decedent’s…”
Mo. Rev. Stat. § 461.005(7): 15 cases
In Re Est. of Hayden, 258 S.W.3d 505 (Mo. Ct. App. 2008).
“300, outside the Nonprobate Transfers law “because it applies to property received other than by a ‘nonprobate transfer’ as defined in Section 461.005.” 5 The new section 461.300 RSMo 1995 provided that: “[e]aeh beneficiary who receives a nonprobate transfer of a decedent’s…”
In Re the Est. of Bruce, 260 S.W.3d 398 (Mo. Ct. App. 2008).
“Section 461.005(7), RSMo 2000, defines a non probate transfer as "a transfer of property taking effect upon the death of the owner, pursuant to a beneficiary designation," and it does not include "survivorship rights in property held as joint tenants or tenants by the…”
Bohr v. Nodaway Valley Bank, 411 S.W.3d 352 (Mo. Ct. App. 2013).
“It claims the trial court erred in granting summary judgment in favor of Andrea and Franklin on their quiet title action because Missouri’s Nonprobate Transfer Law did not allow Dorothy to transfer fee simple title through a beneficiary deed because she was not an “owner” as…”
Mo. Rev. Stat. § 461.005(8): 5 cases
Bohr v. Nodaway Valley Bank, 411 S.W.3d 352 (Mo. Ct. App. 2013).
“It claims the trial court erred in granting summary judgment in favor of Andrea and Franklin on their quiet title action because Missouri’s Nonprobate Transfer Law did not allow Dorothy to transfer fee simple title through a beneficiary deed because she was not an “owner” as…”
Gillespie v. Est. of McPherson, 159 S.W.3d 466 (Mo. Ct. App. 2005).
“An "owner” is defined in Section 461.005(8) as “a person or persons having a right, exercisable alone or with others, to designate the beneficiary of a nonprobate transfer, and includes joint owners.”
Pippin v. Pippin, 154 S.W.3d 376 (Mo. Ct. App. 2004).
“Furthermore, in the Nonprobate Transfers Law definitions section, Section 461.005(7), "[n]onprobate transfer" does not include "a transfer made on death of a person who did not have the right to designate his or her estate as the beneficiary of the transfer [.”
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