I. Except as otherwise provided in the transfer on death deed, in this section, or in RSA 563-D:14, upon the death of the transferor, the following rules apply to property that is the subject of a transfer on death deed and owned by the transferor at death:
(a)Subject to subparagraph (b), the interest in the property is transferred to the designated beneficiary in accordance with the deed.
(b)The interest of a designated beneficiary is contingent on the designated beneficiary surviving the transferor, and unless the transfer on death deed provides otherwise, the interest of a designated beneficiary who fails to survive the transferor lapses. RSA 551:12 shall not apply to a transfer on death deed.
(c)Subject to subparagraph (d), concurrent interests are transferred to the beneficiaries i
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I. Except as otherwise provided in the transfer on death deed, in this section, or in RSA 563-D:14, upon the death of the transferor, the following rules apply to property that is the subject of a transfer on death deed and owned by the transferor at death:
(a) Subject to subparagraph (b), the interest in the property is transferred to the designated beneficiary in accordance with the deed.
(b) The interest of a designated beneficiary is contingent on the designated beneficiary surviving the transferor, and unless the transfer on death deed provides otherwise, the interest of a designated beneficiary who fails to survive the transferor lapses. RSA 551:12 shall not apply to a transfer on death deed.
(c) Subject to subparagraph (d), concurrent interests are transferred to the beneficiaries in equal and undivided shares with no rights of survivorship, unless the transfer on death deed specifically creates a joint tenancy between or among the transferees.
(d) If the transferor has identified 2 or more designated beneficiaries to receive concurrent interests in the property, the share of one which lapses or fails for any reason is transferred to the other, or others in proportion to their respective interests in the remaining part of the property, unless the transfer on death deed provides otherwise.
II. Subject to RSA 477, a beneficiary takes the property subject to all conveyances, encumbrances, assignments, contracts, mortgages, liens, other interests to which the property is subject at the transferor's death, and claims of creditors of the estate of the transferor as provided in RSA 563-D:16. For purposes of this section and RSA 477, the recording of the transfer on death deed is deemed to have occurred at the transferor's death.
III. If a transferor is a joint owner and is:
(a) Survived by one or more other joint owners, the property that is the subject of a transfer on death deed belongs to the surviving joint owner or owners with right of survivorship; or
(b) The last surviving joint owner, the transfer on death deed is effective.
IV. A transfer on death deed transfers property without covenant or warranty of title even if the deed contains a contrary provision.
V. Property conveyed by a transfer on death deed shall not be considered part of the probate estate for purposes of a spouse's right to an elective share pursuant to RSA 560:10.
VI. Property conveyed by a transfer on death deed shall not be included for purposes of determining the share payable to a pretermitted heir of the transferor pursuant to RSA 551:10.