Notice of Continued Insurable Interest: Minnesota Transfer on Death Deeds

June 25, 2024  |  Cathryn Reher

A spiteful ex-spouse burned down the decedent’s homestead immediately after death upon learning the property title passed to the decedent’s daughter as the surviving transfer on death beneficiary. The insurance company refused to cover the loss, asserting the daughter did not have an insurable interest!

Thankfully, this prompted our legislators to pass a new law effective August 1, 2024, which provides some limited post-death insurance coverage to transfer on death beneficiaries. BUT, it will require you to act.

The new law provides that, upon notice, your property insurance company must provide extended coverage commencing on the date of the Grantor Owner’s death or death of the last survivor of multiple Grantor Owners for a period of 30 days, or the date that the insurance policy expires, whichever is shorter, for the named Grantee Beneficiary(ies) under the transfer on death deed. Note that if you change your insurance carrier, you will need to submit a new notice to your new insurance company. This is a benefit to property owners in Minnesota. If you need assistance to provide the required notice, please reach out to your BGS team.

Our estate planning and real estate practice groups here at Barna, Guzy, & Steffen are dedicated to staying informed and serving our client’s best interests. Our estate planning practice group in the Twin Cities monitors developments related to the conveyance of real property. We have addressed various aspects in prior blog posts, and if you have not done so, we suggest you review them. If you have questions affecting your home, cabin, or other land in Minnesota or Wisconsin, our experienced attorneys are ready to assist you. Please contact your attorney directly or email us at: or call us: (763) 780-8500.