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.
Cal. Prob. Code § 5506
UNIFORM TOD SECURITY REGISTRATION ACT
Known as the Uniform TOD Security Registration Act
The act spans §§ 5500–5512 (13 sections).
Added by Stats. 1998, Ch. 242, Sec. 2
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.