Subcommittee sends transfer-on-death bill for vessels out favorably

ANNAPOLIS — The Motor Vehicle and Transportation Subcommittee voted to report House Bill 174 favorably on Feb. 19, expanding existing motor-vehicle transfer-on-death beneficiary provisions to marine vessels.

Committee staff explained that the bill applies the transfer-on-death mechanism used for motor vehicles to vessels in the Natural Resources Article and allows joint owners or the last surviving owner to name a beneficiary to avoid probate. Patrick told the subcommittee the change mirrors the motor-vehicle approach and that the Senate had already moved its companion through third reading.

A member moved the bill “favorable,” a second was heard, and the chair called the question. The ayes were recorded and the bill was passed out of the subcommittee without recorded opposition or amendments.

The committee did not identify a fiscal impact beyond a possible small increase in special fund (Transportation Trust Fund) revenues; staff said there was no effect on state expenditures.

The bill will proceed through the legislative process to the next committee or chamber as required.