The New Jersey Motor Vehicle Commission (NJMVC) today announced that registered owners of a motor vehicle may now designate a transfer on death (TOD) beneficiary to receive ownership of the vehicle upon the death of the last surviving owner.
Upon designation, the vehicle will not be considered part of an estate and no letters of administration will be required for transferring ownership of the vehicle. This can simplify matters regarding the transfer of ownership upon death, bypassing a possibly lengthy probate court process.
By completing the Transfer on Death Beneficiary Designation form, an individual whose motor vehicle is titled in New Jersey may designate a beneficiary to receive ownership of the vehicle upon their death, subject to the rights of all lien holders. A completed form should be held by the owner and must be presented by the beneficiary, along with other required documentation, after the death of the owner.
The transfer does not take effect until the death of the owner, or the death of the last surviving owner if there are co-owners of the vehicle.
This change is now in effect and authorized by legislation (S906) signed into law (P.L.2022, c.13) by Governor Phil Murphy in May 2022.
Customers can access the required form and learn more about the transfer on death (TOD) beneficiary process by visiting the Transferring Vehicle Ownership webpage at the NJMVC website.
When asked whether he approves of the new law, a deceased individual from NJ told reporters from the heavenly press pool: “Of course I approve of the new law! What benefit do I have from an old jalopy here in Gan Eden where I’m able to get from point A to point B without ANY vehicles whatsoever?! Instant carless transportation is one of the many zillions of perks here in Gan Eden!”
“‘Tis better to transfer the car to someone then to let the carjackers drive off with it!” he said. “That would really feel like Gehinom for me, even here in Gan Eden!”
“See ya’ll later,” he told the heavenly press pool, “I got a meeting with one of the Helige Tzadikim of old right now. We’re starting Mesechta Gittin today, and he doesn’t like it when I come late. See you all tonight at Maariv at the ‘Yafa Sha’a Achas Shul’. What a geshmake minyan they got there!”