HB 1034 IN

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Became Law

Extends insurance coverage on property transferred by a transfer on death transfer following the death of the insured after December 31, 2024, for property and casualty insurance and liability insurance other than title insurance and certain insurance relating to bonds and mortgages. Allows certain warning language to be included in a transfer on death deed executed after December 31, 2024. Provides that a failure by a beneficiary to file an affidavit in the office of the recorder of the county in which the real property is located or a delay by the county recorder in recording the affidavit does not affect the validity of the transfer on death transfer to the beneficiary. Provides that until the affidavit is recorded, the transfer on death beneficiary or beneficiaries named in the transfer on death deed and the estate of the deceased owner are jointly and severally liable for property taxes assessed with respect to the real property for assessment years beginning with the assessment year in which the owner's death occurs. Provides that if a transferee obtains a property and casualty insurance policy or liability insurance policy insuring the real or personal property the transferee acquired or received through a transfer, the transferee is not an insured on the insurance policy of the transferor once the transferee's property and casualty insurance policy or liability insurance policy becomes effective.

• Jerry Torr · author
• Eric Koch Republican · sponsor
• Aaron Freeman Republican · sponsor

1. Jan 8, 2024 Authored by Representative Torr · lower
2. Jan 8, 2024 First reading: referred to Committee on Insurance · lower
3. Jan 25, 2024 Committee report: amend do pass, adopted · lower
4. Jan 29, 2024 Second reading: ordered engrossed · lower
5. Jan 30, 2024 Third reading: passed; Roll Call 74: yeas 91, nays 0 · lower
6. Jan 30, 2024 Senate sponsor: Senator Koch · lower
7. Jan 31, 2024 Referred to the Senate · lower
8. Feb 5, 2024 First reading: referred to Committee on Insurance and Financial Institutions · upper
9. Feb 15, 2024 Committee report: amend do pass, adopted · upper
10. Feb 15, 2024 Senator Randolph added as cosponsor · upper
11. Feb 19, 2024 Amendment #1 (Koch) prevailed; voice vote · upper
12. Feb 19, 2024 Second reading: amended, ordered engrossed · upper
13. Feb 19, 2024 Senator Freeman added as second sponsor · upper
14. Feb 20, 2024 Third reading: passed; Roll Call 160: yeas 49, nays 0 · upper
15. Feb 22, 2024 Motion to concur filed · lower
16. Feb 22, 2024 House concurred in Senate amendments; Roll Call 186: yeas 85, nays 0 · lower
17. Feb 21, 2024 Returned to the House with amendments · upper
18. Feb 27, 2024 Signed by the President Pro Tempore · upper
19. Feb 27, 2024 Signed by the Speaker · lower
20. Feb 28, 2024 Signed by the President of the Senate · upper
21. Mar 4, 2024 Signed by the Governor · executive
22. Mar 4, 2024 Public Law 2 · lower