Category: Transfer on Death Deed
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Effective July 1, 2024: New Requirements for Transfer on Death Deeds in Indiana
Starting July 1, 2024, all Indiana counties will implement new requirements for the Transfer on Death Deed (TODD). This legislative update mandates specific procedures and introduces the option of a $10 parcel fee for endorsements by county auditors. The changes are guided by the Indiana Code (IC), particularly IC 32-17-14-26 and IC 36-2-11-14. This article…
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The Transfer on Death Deed: Is It Always Simpler Than Probate?
Passing property along when you no longer live in it shouldn’t be a huge hassle. And that’s why an increasingly popular choice is the transfer on death deed. This is a real deed, which designates a beneficiary on the real estate title. If you have a beneficiary in mind, and you aren’t already co-owners with…
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Staying Informed About California Transfer on Death Deeds
This year has been an interesting one for California’s revocable transfer on death deed. Beginning in 2022, California homeowners using TOD deeds (sometimes just called TODDs) must have two adult witnesses sign the document. So, for a valid TOD deed, you must sign the document, have your signature notarized, have two witnesses, and file the…
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Estate Planning With a Transfer on Death Deed
New Rules for California Homeowners Since 2016, California has been offering homeowners a very simple way to transfer their homes to beneficiaries. It’s called the transfer on death deed — also written as TOD deed, TODD, or beneficiary deed. A TOD deed, where a state allows it, enables a named beneficiary to take title without…
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What Happens When Wills and Deeds Conflict?
When a person passes away, the death certificate and last will are submitted to the county probate court. A person representative begins the process of passing assets along as the will directs — except when other valid legal instruments have priority. One of those instruments is the all-important real estate deed. Houses can be left…
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Update: The State of the Transfer on Death Deed
Ever thought about placing some of your key assets in instruments that bypass the probate process? In a number of states, homeowners have the option of placing their real estate in a transfer on death deed. Think of a retirement account that’s transferred to its designated beneficiary on death. In the same way, with a…
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Adding Someone to Your Real Estate Deed? Know the Risks.
It’s your home. You might wish to add another person—perhaps an intimate friend or a family member. Doing this is a relatively simple action. And you have the right to do it. Still, be sure to consider the unintended consequences. However well-intended your desire to bring a loved one onto your real estate deed, the…
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Transfer on Death Deeds for California Real Estate
As of January 1, 2016, owners of residential real property in California have access to a new estate planning tool: the Simple Revocable Transfer on Death Deed (TODD). Find the law in the California Probate Code, starting at section 5600.
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Texas Adds Statutory Transfer on Death Deeds to Estate Planning Arsenal
As of September 1, 2015, owners of real property in Texas gained access to the statutory transfer on death deed (TODD). Modeled after the Uniform Real Property Transfer on Death Act and located at Chapter 14 of the Texas Estates Code, the Texas Real Property Transfer on Death Act governs the use of transfer on…
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Understanding Transfer on Death Deeds
Real estate is often one of the most significant assets to consider in a comprehensive estate plan. There are several ways to distribute the property after the owner’s death. Some of the more common options are wills, trusts, joint ownership, or transfer on death (TOD) deeds. Note: unless identified otherwise, all definitions originated with Black’s…
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Revoking a Transfer on Death Designation Affidavit in Ohio
Ohio Revised Code 5302.23(B)(5) contains the rules for revoking a recorded transfer on death designation affidavit. In short, it states that the owner of real estate previously identified as a transfer on death interest may revoke or change a beneficiary designation at any time before the owner’s death, without the consent of that transfer on…
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Nebraska Statutory Transfer on Death Deed Options
The Nebraska Uniform Real Property Transfer on Death Act is found at Sections 76-3401 to 76-3423 of the Nebraska Revised Statutes. This useful law provides an option for land owners to convey their real estate after their death, but without the need to include it in a will. A transfer on death deed (TODD), when…
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Dower, Joint Tenancy, and Ohio’s Transfer on Death Instruments
Transfer on death deeds (“TODs”) are used to convey property rights to one or more beneficiaries after the owner dies. Unlike most other assets in an estate, property conveyed in a transfer upon death is not subject to probate distribution. In addition, as nontestamentary instruments, these conveyances are not affected by provisions of the deceased…
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Frequently Asked Questions about the Alaska Transfer on Death Deed
Real property owners in Alaska have a new estate planning option: the transfer on death deed (TODD). Alaska joins with an increasing number of states using this law to help real estate owners manage the distribution of what is often their most significant asset — their real estate — by executing and recording a transfer…
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What is the Difference Between an Ohio Survivorship Deed and a Transfer on Death Designation Affidavit?
A survivorship deed conveys title rights to property upon execution and recording. As such, it is appropriate for a situation where the owners are married or are otherwise willing to be connected by concurrent (joint) ownership. If one of the co-owners dies, his or her share of the real property passes immediately to the surviving…