Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by 2 or more with right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form. Multiple owners of a security registered in beneficiary form hold as joint tenants with right of survivorship, as tenants by the entireties, or as owners of community property held in survivorship form, and not as tenants in common.
(Apr. 27, 2001, D.C. Law 13-292, § 302(b), 48 DCR 2087.)
Uniform Law: This section is based upon § 302 of the Uniform Nonprobate Transfers on Death Act (1991 Act).
Structure District of Columbia Code
Title 19 - Descent, Distribution, and Trusts. [Enacted title]
Chapter 6 - Nonprobate Transfers on Death; Uniform Law
Subchapter III - Uniform TOD Security Registration
§ 19–603.02. Registration in beneficiary form; sole or joint tenancy ownership
§ 19–603.03. Registration in beneficiary form; applicable law
§ 19–603.04. Origination of registration in beneficiary form
§ 19–603.05. Form of registration in beneficiary form
§ 19–603.06. Effect of registration in beneficiary form
§ 19–603.07. Ownership on death of owner
§ 19–603.08. Protection of registering entity
§ 19–603.09. Nontestamentary transfer on death