To transfer personal property as part of the preneed contract, what must occur?

Transferring personal property as part of a preneed contract requires the delivery of the property coupled with a written declaration of trust. This process ensures that the ownership and responsibilities concerning that property are clearly defined and legally documented. The delivery itself confirms that the property is effectively transferred to the individual or entity intended to receive it, while the written declaration assists in outlining the terms of the trust, indicating that the property is held for specific purposes related to the preneed agreement.

This method provides a clear legal framework that protects both parties involved in the transaction, ensuring that the intentions of the transfer are honored and that there is accountability regarding the property. Without both delivery and the written declaration, the transfer may not hold up legally, potentially leading to disputes or misunderstandings about ownership and rights related to the property in question.