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  1. #1
    Join Date
    Sep 2011
    Location
    OH10
    Posts
    17,019

    Default Re: Rules for What is Considered Transmutation of Assets

    So it appears the issue is what if anything was presented on the registration application. It appears based on a bit of research, it is illegal to designate him as the TOD recipient on the title app, with joint ownership. It appears the law clearly gives you ownership by statute.
    http://www.dmv.ca.gov/pubs/reg_hdbk/ch11/ch11_15.htm
    11.070 Transfer on Death (TOD) Beneficiary

    The sole registered owner of a vehicle/vessel may designate a transfer on death (TOD) beneficiary to whom ownership of the vehicle/vessel may be transferred upon death of the owner.

    The TOD beneficiary is not a registered owner and the signature or consent of the beneficiary is not required for any transaction involving the vehicle/vessel during the lifetime of the registered owner.
    Only one registered owner and one designated TOD beneficiary can be shown on the vehicle/vessel title.
    The TOD beneficiary may be an individual, corporation, trust, partnership, association, or other entity.
    A fee to add, delete, or change a TOD beneficiary is due in addition to any other fees.

    Quote Quoting gguubb
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    So from what I am reading and understanding,, If the vehicle is titled using the word "and" then it passes upon death to the other person on the title. But if it uses the word "or" then there has to be other special wording to make it automatically pass to the other owner. The title uses the word "or" between our names. Thanks for your help.

  2. #2
    Join Date
    Oct 2013
    Posts
    25

    Default Re: Rules for What is Considered Transmutation of Assets

    This stuff sure is confusing, to say the least.. He was not named at TOD beneficiary on the title.. But he was named in the will. I guess it all comes down to the fact of how the wording of "and" or "or" is used on title. I have another question.. We also had some assets with the wording of "and/or" between our names on the registration papers for some fairly valuable assets that are not vehicles...they are breeding livestock. If the will leaves 1/2 of community assets to him, how will title to these affect the ownership upon death? Is it assumed that these are "jointly owned" or "tenants in common" ownership? I have been doing research on California presumption and sometimes it says that "joint tenants" is presumed and some say "tenants in common is presumed". Are there any statutes to show ownership is "joint" in these circumstance? All of these assets were bought while we were married, except for one. The one that was owned by her was put into both our names right before we were married. Does that also constitute a transmutation thanks again!

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