A bill for an act relating to creation of transfer on death deeds and to disclaimers of an interest in real property, and including applicability provisions.

HF 125 creates a new legal process in Iowa for transferring real property (like homes or land) to beneficiaries upon the owner's death, without going through probate. It allows property owners to create a "transfer on death deed" that takes effect only after their death, requiring the deed to be recorded before death but not needing beneficiary acceptance or payment during the owner's lifetime. The bill specifies that such deeds do not affect the owner's rights while alive, the property's existing debts or liens, or the beneficiary's eligibility for public assistance. It also allows beneficiaries to disclaim their interest in the property and clarifies that the transfer occurs without title warranties. This option complements existing transfer methods but does not replace them.