Notwithstanding any General or special law, or rule or regulation to the contrary, owners of interests in real property in the commonwealth shall be allowed to execute and record a transfer on death deed to such real property. The deed shall identify the beneficiary or beneficiaries who shall succeed to the ownership of the property at the time of the owner’s death; provided, however, that the beneficiaries shall have no interest in the property, and the owner shall retain full power to transfer or encumber said property or to revoke the transfer on death deed at any time during his life.
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