SB200: Bill Text

SB200,2,6 342.10 (1) (f) If the owner designates a beneficiary under s. 342.175, the name and address of the beneficiary.

SB200, s. 3 Section 3. 342.14 (3r) of the statutes is created to read:

SB200,2,12 342.14 (3r) Notwithstanding s. 342.09 (3), upon filing an application under sub. (1) or (3) that contains the name and address of a beneficiary designated under s. 342.175 (1), in addition to any other fees specified under this section, a fee equal to the cost of processing a designation made under s. 342.175 (1), by the owner of the vehicle.

SB200, s. 4 Section 4. 342.17 (title) and (1) of the statutes are amended to read:

SB200,3,7 342.17 (title) Involuntary transfers and transfers on death. (1) If the interest of an owner in a vehicle passes to another other than by voluntary involuntary transfer or by a designation under s. 342.175, the transferee shall, except as provided in sub. (2), promptly mail or deliver to the department the last certificate of title, if available, and the documents required by the department to legally effect such transfer, and an application for a new certificate in the form the department prescribes.

SB200, s. 5 Section 5. 342.17 (4) (a) (intro.) of the statutes is amended to read:

SB200,3,12 342.17 (4) (a) (intro.) In all cases of the transfer of a vehicle owned by a decedent, except under par. pars. (b) and (bg), ward, trustee or bankrupt, the department shall accept as sufficient evidence of the transfer of ownership the following:

SB200, s. 6 Section 6. 342.17 (4) (b) 1. (intro.) of the statutes is amended to read:

SB200,3,17 342.17 (4) (b) 1. (intro.) The department shall transfer the decedent's interest in any vehicle, other than a vehicle for which a beneficiary is designated under s. 342.175, to his or her surviving spouse upon receipt of the title executed by the surviving spouse and a statement by the spouse which shall state:

SB200, s. 7 Section 7. 342.17 (4) (bg) of the statutes is created to read:

SB200,3,25 342.17 (4) (bg) The department shall transfer any vehicle to a beneficiary designated to receive the vehicle under s. 342.175 if the designated beneficiary survives the decedent and presents to the department a certified copy of the decedent's death certificate. Upon receipt of the decedent's death certificate under this paragraph, the department shall perform a title search to confirm the name of the beneficiary designated under s. 342.175 and may charge the beneficiary a fee to cover the cost of performing the search.

SB200, s. 8 Section 8. 342.175 of the statutes is created to read:

SB200,4,5 342.175 Designation of a transfer-on-death beneficiary. (1) The owner of a vehicle may designate in the certificate of title a beneficiary to whom the department shall transfer the vehicle upon the owner's death if all of the following apply:

SB200,4,6 (a) The owner designates only one beneficiary in the certificate of title.

SB200,4,7 (b) The vehicle does not qualify as marital property under ch. 766.

SB200,4,9 (c) The owner does not own the vehicle as a joint tenant or as a tenant in common.

SB200,4,12 (2) Upon receipt of an application for a certificate of title under s. 342.06 that contains the name and address of a beneficiary designated under sub. (1), the department shall notify the beneficiary of the designation by mail.

SB200,4,15 (3) Any transaction prior to the owner's death that involves a vehicle for which a beneficiary is designated under sub. (1) does not require the consent of the designated beneficiary.

SB200,4,18 (4) Except as provided in sub. (5) and subject to s. 853.15, a beneficiary designation under sub. (1) may not be changed or revoked by will or any other instrument.

SB200,4,20 (5) An owner may revoke or change a designation under sub. (1) only by doing any of the following:

SB200,4,21 (a) Applying for a new certificate of title without designating a beneficiary.

SB200,4,22 (b) Applying for a new certificate of title and designating a different beneficiary.

SB200,4,23 (c) Transferring the vehicle prior to death.

SB200,5,2 (6) If an owner submits an application for a certificate of title that does not contain the name of the beneficiary previously designated by the owner under sub. (1), the department shall, by mail, notify the beneficiary previously designated that the owner has revoked the designation.

SB200,5,4 (7) A transfer of title under this section does not affect any lien upon the vehicle.

SB200,5,7 (8) If a beneficiary designated under sub. (1) does not survive the owner of the vehicle and the owner has not changed or revoked the designation under sub. (5), the vehicle belongs to the estate of the owner at the owner's death.

SB200,5,8 (9) Chapter 854 applies to transfers at death under this section.

SB200, s. 9 Section 9. Effective date.

SB200,5,11 (1) This act takes effect on the first day of the 4th month beginning after publication.

SB200,5,12 (End)