15-6-307. OWNERSHIP ON DEATH OF OWNER. On death of a sole owner or the last to die of all multiple owners, ownership of securities registered in beneficiary form passes to the beneficiary or beneficiaries who survive all owners. On proof of death of all owners and compliance with any applicable requirements of the registering entity, a security registered in beneficiary form may be reregistered in the name of the beneficiary or beneficiaries who survived the death of all owners. Until division of the security after the death of all owners, multiple beneficiaries surviving the death of all owners hold their interests as tenants in common. If no beneficiary survives the death of all owners, the security belongs to the estate of the deceased sole owner or the estate of the last to die of all multiple owners.
History:
[15-6-307, added 1996, ch. 303, sec. 1, p. 998.]
Structure Idaho Code
Title 15 - UNIFORM PROBATE CODE
Chapter 6 - NONPROBATE TRANSFERS
Part 3 - UNIFORM TOD SECURITY REGISTRATION ACT
Section 15-6-301 - DEFINITIONS.
Section 15-6-302 - REGISTRATION IN BENEFICIARY FORM — SOLE OR JOINT TENANCY OWNERSHIP.
Section 15-6-303 - REGISTRATION IN BENEFICIARY FORM — APPLICABLE LAW.
Section 15-6-304 - ORIGINATION OF REGISTRATION IN BENEFICIARY FORM.
Section 15-6-305 - FORM OF REGISTRATION IN BENEFICIARY FORM.
Section 15-6-306 - EFFECT OF REGISTRATION IN BENEFICIARY FORM.
Section 15-6-307 - OWNERSHIP ON DEATH OF OWNER.
Section 15-6-308 - PROTECTION OF REGISTERING ENTITY.
Section 15-6-309 - NONTESTAMENTARY TRANSFER ON DEATH.
Section 15-6-310 - TERMS, CONDITIONS AND FORMS FOR REGISTRATION.