BizTerm Definition
Uniform Transfer-on-Death Security Act
Full Definition

A statute adopted by most states that allows people to name a beneficiary to inherit stocks or bonds without probate. The owner of the securities can register them with a broker using a simple form that names a person to receive the property after the owner's death. The following states have adopted the statute: Alabama Maryland Oklahoma Alaska Minnesota Oregon Arizona Mississippi Pennsylvania Arkansas Missouri South Dakota Colorado Montana Tennessee Connecticut Nebraska Texas Delaware Nevada Utah Florida New Hampshire Virginia Idaho New Jersey Washington Illinois New Mexico West Virginia Iowa North Dakota Wisconsin Kansas Ohio Wyoming

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