(a) Definitions. — (1) “Decedent” shall mean any person whose life is taken by a slayer.
(2) “Property” shall include any real or personal property, tangible or intangible, and any right or interest therein.
(3) “Slayer” shall mean any person who pleads guilty or nolo contendere to or is convicted of the offenses described in § 632, § 635, or § 636 of Title 11, as the same may be amended from time to time, excluding, however, those persons who plead guilty or nolo contendere or are convicted of manslaughter under § 632 of Title 11 as a result of the mitigating circumstances of extreme emotional distress as described in § 641 of Title 11. “Slayer” shall also mean:
a. Any person who pleads guilty or nolo contendere to or is convicted in a court of competent jurisdiction under the laws of the United States, any state, commonwealth, possession, or territory thereof, or any foreign country that requires that guilt be proven beyond a reasonable doubt of any act that would constitute an offense described in the preceding sentence; or
b. Any person, excluding a person who has been acquitted, found not guilty, or against whom a charge of having committed a homicide against a decedent has been found by a court of competent jurisdiction to be not proved, who is determined beyond a reasonable doubt by a court of competent jurisdiction to have committed a homicide against a decedent.
(b) Statutory descent and rights. — The slayer shall be deemed to have predeceased the decedent as to property which would have passed from the estate of the decedent to the slayer under the statutes of descent and distribution or have been acquired by statutory right as surviving spouse.
(c) Wills and trusts. — The slayer shall be deemed to have predeceased the decedent as to property which would have passed to the slayer by devise or legacy from the decedent, and as to property which would have passed to the slayer from a trust to the extent that the decedent was the grantor of the trust or was the beneficiary of the trust immediately before the death of the decedent.
(d) Tenancy by entirety. — Any property held by the slayer and the decedent as tenants by the entirety shall, upon the death of the decedent, be converted to property held as tenants in common, and 1/2 of the property shall pass to the decedent's heirs, legatees and devisees, and the other half shall pass to the slayer, unless the slayer or the decedent's estate effects a partition of the property.
(e) Joint tenancy with rights of survivorship. — (1) Any property held solely by the slayer and the decedent as joint tenants, joint owners or joint obligees shall, upon the death of the decedent, be converted to property held as tenants in common and 1/2 of the property shall pass to the decedent's heirs, legatees or devisees, and the other half shall pass to the slayer, unless the slayer or the decedent's estate effects a partition of the property.
(2) As to property held jointly by 3 or more persons as joint tenants with right of survivorship, including the slayer and the decedent, the decedent's interest shall be converted to that of a proportional tenant in common, and the decedent's interest shall pass to the decedent's heirs, legatees and devisees, unless the decedent's estate or a surviving joint tenant effects a partition of the property. The interest of the other tenants remains unaffected.
(3) The provisions of this section shall not affect any enforceable agreement between the parties or any trust arising because a greater proportion of the property has been contributed by 1 party than by the other.
(f) Vested remainder. — Property in which the slayer holds a reversion or vested remainder and would have obtained the right of present possession upon the death of the decedent shall pass to the heirs, legatees or devisees of the decedent, and be redistributed in accordance with the decedent's will or the laws of intestate distribution, excluding the slayer, during the period of what would have been the life expectancy of the decedent if the decedent had not been slain. If the particular estate is held by a third person, it shall remain in the third person's hands for such period.
(g) Contingent remainder. — As to any contingent remainder or executory or other future interest held by the slayer, subject to become vested in the slayer or increased in any way for the slayer upon the condition of the death of the decedent:
(1) If the interest would not have become vested or increased if the slayer had predeceased the decedent, the slayer shall be deemed to have so predeceased the decedent.
(2) In any other case, the interest of the slayer shall be extinguished.
(h) Proceeds passing by designation. — (1) Except when there are conflicting provisions in a contract governing any policy or certificate of insurance on the life of the decedent, or of a joint life policy on the life of the decedent and the slayer, or governing the designee of any other property, the proceeds of such property shall be paid according to the terms of the contract as though the slayer had predeceased the decedent. If the contract does not provide for a beneficiary in the event that the slayer predeceased the decedent, the property shall be paid to the estate of the decedent.
(2) If the decedent is beneficiary or assignee of any policy or certificate of insurance on the life of the slayer, or the designee of any other property, the proceeds shall be paid to the estate of the decedent upon the death of the slayer, unless the policy or certificate names some person other than the slayer or the slayer's estate as secondary beneficiary, or unless the slayer, by naming a new beneficiary or assigning the policy, performs an act which would have deprived the decedent of the interest in the policy if the decedent had been living.
(3) Any insurance or other company making payment according to the terms of its policy or any bank or other person performing an obligation for the slayer as 1 of several joint obligees shall not be subjected to additional liability by the terms of this section if such payment or performance is made without written notice of the conviction of the slayer.
(i) Purchasers for value without notice. — The provisions of this section shall not affect the rights of any person who, before the slayer has been convicted, purchases or has agreed to purchase, from the slayer for value and without notice, property which the slayer would have acquired except for the terms of this section, but all proceeds received by the slayer from such sale shall be held by the slayer in trust for the persons entitled to the property under the provisions of this section, and the slayer shall also be liable both for any portion of such proceeds which the slayer may have dissipated and for any difference between the actual value of the property and the amount of such proceeds.
(j) Record of conviction admissible in civil actions. — The record of the slayer's conviction for participating in or causing the death of the decedent shall be admissible in evidence against a claimant of property in any civil action arising as a consequence of this section.
(k) Construction. — This section shall not be considered penal in nature, but shall be construed broadly in order to effect the policy of this State that a person shall not be permitted to profit by that person's own wrong.