Estates and Trusts (GET) — Title 16. Maryland Uniform Transfer-on-Death (Tod) Security Registration Act
Statutes in effect as of October 1, 2026.
Subtitle 1
Md. Code Ann., Est. & Trusts § 16-101 (2026)
Title 16. Maryland Uniform Transfer-on-Death (Tod) Security Registration Act
Subtitle 1
§ 16–101LinkCopy Citation
(a)
In this title the following terms have the meanings indicated unless the context otherwise requires.
(b)
“Beneficiary form” means a registration of a security which indicates the present owner of the security and the intention of the owner regarding the person who will become the owner of the security on the death of the owner.
(c)
“Devisee” means any person designated in a will to receive a disposition of real or personal property.
(d)
“Heirs” means those persons, including the surviving spouse, who are entitled under the statutes of intestate succession to the property of a decedent.
(e)
“Personal representative” includes executor, administrator, successor personal representative, special administrator, and persons who perform substantially the same function under the law governing their status.
(f)
“Property” includes both real and personal property or any interest therein and means anything that may be the subject of ownership.
(g)
“Register”, including its derivatives, means to issue a certificate showing the ownership of a certificated security or, in the case of an uncertificated security, to initiate or transfer an account showing ownership of securities.
(h)
“Registering entity” means a person who originates or transfers a security title by registration, and includes a broker or trust company maintaining security accounts for customers and a transfer agent or other person acting for or as an issuer of securities.
(i)
(1)
“Security” means a share, participation, or other interest in property, in a business, or in an obligation of an enterprise or other issuer.
(2)
“Security” includes a certificated security, an uncertificated security, and a security account.
(j)
(1)
“Security account” means:
(i)
A reinvestment account associated with a security, a securities account with a broker, a cash balance in a brokerage account, cash, interest, earnings, or dividends earned or declared on a security in an account, a reinvestment account, or a brokerage account, whether or not credited to the account before the owner’s death;
(ii)
A cash balance or other property held for or due to the owner of security as a replacement for or product of an account security, whether or not credited to the account before the owner’s death; or
(iii)
A securities account maintained by a trust company for one or more customers.
(2)
“Security account” does not include:
(i)
An account as defined in § 1–204(b)(2) of the Financial Institutions Article; or
(ii)
A securities account held by a trust company as a fiduciary as defined in § 15–101 of this article.
(k)
“Trust company” has the meaning stated in § 1-101 of this article.
Md. Code Ann., Est. & Trusts § 16-102 (2026)
Title 16. Maryland Uniform Transfer-on-Death (Tod) Security Registration Act
Subtitle 1
§ 16–102LinkCopy Citation
(a)
Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by two or more with right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form.
(b)
Multiple owners of a security registered in beneficiary form hold as joint tenants with right of survivorship, as tenants by the entireties, or as owners of community property held in survivorship form, and not as tenants in common.
Md. Code Ann., Est. & Trusts § 16-103 (2026)
Title 16. Maryland Uniform Transfer-on-Death (Tod) Security Registration Act
Subtitle 1
§ 16–103LinkCopy Citation
(a)
A security may be registered in beneficiary form if the form is authorized by this or a similar statute of the state of organization of the issuer or registering entity, the location of the registering entity’s principal office, the office of its transfer agent or its office making the registration, or by this or a similar statute of the law of the state listed as the owner’s address at the time of registration.
(b)
A registration governed by the law of a jurisdiction in which this or similar legislation is not in force or was not in force when a registration in beneficiary form was made is nevertheless presumed to be valid and authorized as a matter of contract law.
Md. Code Ann., Est. & Trusts § 16-104 (2026)
Title 16. Maryland Uniform Transfer-on-Death (Tod) Security Registration Act
Subtitle 1
§ 16–104LinkCopy Citation
A security, whether evidenced by certificate or account, is registered in beneficiary form when the registration includes a designation of a beneficiary to take the ownership at the death of the owner or the deaths of all multiple owners.
Md. Code Ann., Est. & Trusts § 16-105 (2026)
Title 16. Maryland Uniform Transfer-on-Death (Tod) Security Registration Act
Subtitle 1
§ 16–105LinkCopy Citation
Registration in beneficiary form may be shown by the words “transfer-on-death” or the abbreviation “TOD”, or by the words “pay on death” or the abbreviation “POD”, after the name of the registered owner and before the name of a beneficiary.
Md. Code Ann., Est. & Trusts § 16-106 (2026)
Title 16. Maryland Uniform Transfer-on-Death (Tod) Security Registration Act
Subtitle 1
§ 16–106LinkCopy Citation
(a)
The designation of a TOD beneficiary on a registration in beneficiary form has no effect on ownership until the owner’s death.
(b)
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.
Md. Code Ann., Est. & Trusts § 16-107 (2026)
Title 16. Maryland Uniform Transfer-on-Death (Tod) Security Registration Act
Subtitle 1
§ 16–107LinkCopy Citation
(a)
On death of a sole owner or the last to die of all multiple owners, ownership of securities registered in beneficiary form passes to the beneficiary or beneficiaries who survive all owners.
(b)
On proof of death of all owners and compliance with any applicable requirements of the registering entity, a security registered in beneficiary form may be reregistered in the name of the beneficiary or beneficiaries who survived the death of all owners.
(c)
Until division of the security after the death of all owners, multiple beneficiaries surviving the death of all owners hold their interests as tenants in common.
(d)
If no beneficiary survives the death of all owners, the security belongs to the estate of the deceased sole owner or the estate of the last to die of all multiple owners.
Md. Code Ann., Est. & Trusts § 16-108 (2026)
Title 16. Maryland Uniform Transfer-on-Death (Tod) Security Registration Act
Subtitle 1
§ 16–108LinkCopy Citation
(a)
(1)
A registering entity is not required to offer or to accept a request for security registration in beneficiary form.
(2)
If a registration in beneficiary form is offered by a registering entity, the owner requesting registration in beneficiary form assents to the protections given to the registering entity by this title.
(b)
By accepting a request for registration of a security in beneficiary form, the registering entity agrees that the registration will be implemented on death of the deceased owner as provided in this title.
(c)
(1)
A registering entity is discharged from all claims to a security by the estate, creditors, heirs, or devisees of a deceased owner if it registers a transfer of the security in accordance with § 16–107 of this title and does so in good faith reliance on:
(i)
The registration;
(ii)
This title; and
(iii)
Information provided to it by affidavit of the personal representative of the deceased owner, or by the surviving beneficiary or by the surviving beneficiary’s representatives, or other information available to the registering entity.
(2)
The protections of this title do not extend to a reregistration or payment made after a registering entity has received written notice from any claimant to any interest in the security objecting to implementation of a registration in beneficiary form.
(3)
No other notice or other information available to the registering entity affects its right to protection under this title.
(d)
The protection provided by this title to the registering entity of a security does not affect the rights of beneficiaries in disputes between themselves and other claimants to ownership of the security transferred or its value or proceeds.
Md. Code Ann., Est. & Trusts § 16-109 (2026)
Title 16. Maryland Uniform Transfer-on-Death (Tod) Security Registration Act
Subtitle 1
§ 16–109LinkCopy Citation
(a)
A transfer-on-death resulting from a registration in beneficiary form is effective by reason of the contract regarding the registration between the owner and the registering entity and this title and is not testamentary.
(b)
This title does not limit the rights of creditors of security owners against beneficiaries and other transferees under other laws of this State.
Md. Code Ann., Est. & Trusts § 16-110 (2026)
Title 16. Maryland Uniform Transfer-on-Death (Tod) Security Registration Act
Subtitle 1
§ 16–110LinkCopy Citation
(a)
(1)
A registering entity offering to accept registrations in beneficiary form may establish the terms and conditions under which it will receive requests for:
(i)
Registrations in beneficiary form; and
(ii)
Implementation of registrations in beneficiary form, including requests for cancellation of previously registered TOD beneficiary designations and requests for reregistration to effect a change of beneficiary.
(2)
The terms and conditions established under this subsection may provide for proving death, avoiding or resolving any problems concerning fractional shares, designating primary and contingent beneficiaries, and substituting a named beneficiary’s descendants to take in the place of the named beneficiary in the event of the beneficiary’s death.
(3)
(i)
Substitution may be indicated by appending to the name of the primary beneficiary the letters LDPS, standing for “lineal descendants per stirpes”.
(ii)
This designation substitutes a deceased beneficiary’s descendants who survive the owner for a beneficiary who fails to so survive, the descendants to be identified and to share in accordance with the law of the beneficiary’s domicile at the owner’s death governing inheritance by descendants of an intestate.
(4)
Other forms of identifying beneficiaries who are to take on one or more contingencies, and rules for providing proofs and assurances needed to satisfy reasonable concerns by registering entities regarding conditions and identities relevant to accurate implementation of registrations in beneficiary form, may be contained in a registering entity’s terms and conditions.
(b)
The following are illustrations of registrations in beneficiary form which a registering entity may authorize:
(1)
Sole owner-sole beneficiary: John S. Brown TOD (or POD) John S. Brown, Jr.
(2)
Multiple owners-sole beneficiary: John S. Brown, Mary B. Brown Jt. Ten. TOD John S. Brown, Jr.
(3)
Multiple owners-primary and secondary (substituted) beneficiaries: John S. Brown, Mary B. Brown Jt. Ten. TOD, John S. Brown, Jr. Sub Bene Peter Q. Brown or John S. Brown, Mary B. Brown Jt. Ten. TOD, John S. Brown, Jr. LDPS.
Md. Code Ann., Est. & Trusts § 16-111 (2026)
Title 16. Maryland Uniform Transfer-on-Death (Tod) Security Registration Act
Subtitle 1
§ 16–111LinkCopy Citation
(a)
This title may be cited as the Maryland Uniform TOD Security Registration Act.
(b)
This title shall be liberally construed and applied to promote its underlying purposes and policy and to make uniform the laws with respect to the subject of this title among states enacting it.
(c)
Unless displaced by the particular provisions of this title, the principles of law and equity supplement its provisions.
Md. Code Ann., Est. & Trusts § 16-112 (2026)
Title 16. Maryland Uniform Transfer-on-Death (Tod) Security Registration Act
Subtitle 1
§ 16–112LinkCopy Citation
This title applies to registrations of securities in beneficiary form made before or after October 1, 1994, by decedents dying on or after October 1, 1994.