633D.9 Death of the owner.
On the death of a sole owner or on the death of the sole surviving owner of multiple owners, the 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. A registering entity shall provide notice to the department of revenue of all reregistrations made pursuant to this chapter. The notice shall include the name, address, and social security number of the decedent and all transferees. Until the 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 multiple owners.
97 Acts, ch 178, §25
CS97, §633.808
2003 Acts, ch 145, §286; 2005 Acts, ch 38, §52, 53
CS2005, §633D.9
Referred to in §633D.10
Structure Iowa Code
Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES
Chapter 633D - TRANSFER ON DEATH SECURITY REGISTRATION
Section 633D.1 - Short title — rules of construction.
Section 633D.3 - Registration in beneficiary form — sole or joint tenancy ownership.
Section 633D.4 - Registration in beneficiary form — applicable law.
Section 633D.5 - Origination of registration in beneficiary form.
Section 633D.6 - Form of registration in beneficiary form.
Section 633D.7 - Effect of registration in beneficiary form.
Section 633D.8 - Claims against a beneficiary of a transfer on death security registration.
Section 633D.9 - Death of the owner.
Section 633D.10 - Protection of registering entity.
Section 633D.11 - Nontestamentary transfer on death.
Section 633D.12 - Terms, conditions, and forms for registration.