Motor Vehicles and Marine Vessels - Transfer-on-Death Designations

SB 145 allows sole owners or co-owners (as joint tenants with right of survivorship) of motor vehicles and marine vessels in Maryland to designate a beneficiary to automatically inherit the vehicle upon their death, bypassing probate. The designation, marked "TOD" or "Transfer-on-Death" on the title, takes effect only after the owner's death and requires beneficiaries to apply for a new title using the original title, death certificates, and proof of identity. If the beneficiary predeceases the owner, the vehicle becomes part of the owner’s estate. This applies to both cars and boats, updating existing law to permit co-owner designations for marine vessels and aligning motor vehicle rules with the new provisions.