I. To the extent the transferor's probate estate is insufficient to satisfy an allowed claim against the estate, the estate may enforce the liability against property transferred at the transferor's death by a transfer on death deed.
II. If more than one property is transferred by one or more transfer on death deeds, the liability under paragraph I is apportioned among the properties in proportion to their net values at the transferor's death.
III. If no administration shall have been granted upon the estate of the deceased transferor within 2 years from the transferor's date of death, no proceeding to enforce the liability under this section shall be commenced.