A bill for an act relating to creation of transfer on death deeds and to disclaimers of an interest in real property, and including applicability provisions.

SF 408 creates a legal framework for "transfer on death deeds" in Iowa, allowing property owners to name beneficiaries who automatically inherit real estate upon the owner's death without probate. It directly affects Iowa residents owning real property who wish to bypass wills or probate for their home or land. Key provisions require the deed to be recorded before the owner dies, state it takes effect at death, and clarify that the property remains under the owner's control during their lifetime (e.g., they can still sell or mortgage it). The bill also specifies that beneficiaries can disclaim their interest and outlines how property transfers work if multiple beneficiaries are named or if a beneficiary predeceases the owner. This does not replace wills or existing transfer methods but provides a new, streamlined option for real property.