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Code of Virginia (Last Updated:July 28, 2020) |
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TITLE 64.2. Wills, Trusts, and Fiduciaries |
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SUBTITLE II. Wills and Decedents' Estates |
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CHAPTER 6. Transfers Without Qualification |
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ARTICLE 3. Uniform Transfers on Death (Tod) Security Registration Act |
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SECTION 64.2-615. Form of registration in beneficiary form; effect |
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A. Registration in beneficiary form may be shown by the words "transfer on death" or the abbreviation "TOD," or by the words "pay on death" or the abbreviation "POD," after the name of the registered owner and before the name of the beneficiary. B. The designation of a TOD beneficiary on a registration in beneficiary form has no effect on ownership until the owner's death. A registration of a security in beneficiary form may be canceled or changed at any time by the sole owner or all then surviving owners without the consent of the beneficiary. |