Category: Transfer on Death Deed
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West Virginia Transfer on Death Deed Law for Real Estate
Earlier this year, the West Virginia legislature voted to join with 13 other states and adopt the Uniform Real Property Transfer on Death Act (URPTODA). The law is found at 36-12-1 et seq in the Code of West Virginia, and went into effect on June 5, 2014. This act allows owners of real property in…
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Transfer on Death Deeds and Joint Tenancy
Transfer on death deeds (TODDs), sometimes also called ladybird deeds, enhanced life estate deeds, or beneficiary deeds, can be useful components of a comprehensive estate plan. Still relatively new, they are gaining acceptance across the US; as of 2013, they are valid in more than twenty states. These instruments, when lawfully executed and recorded, allow…
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New Mexico Updates Transfer on Death Deeds in 2014
Recently, the state legislature revisited the original transfer on death deed statute and decided it was due for an update. So, on January 1, 2014, New Mexico joined with eleven other states to adopt the Uniform Real Property Transfer on Death Act (URPTODA), found at §§ 45-6-401 through 45-6-417 NMSA 1978 (2014). This revision of…
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Understanding the Indiana Transfer on Death (Ladybird) Deed
Indiana outlines the rules for its transfer on death deed in IC 32-17-14 — the “Transfer on Death Property Act.” The act, which became effective on July 1, 2009, gives owners/grantors of real estate in Indiana the ability to initiate, but not complete, the transfer process to a designated beneficiary while retaining absolute control in…
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Illinois Transfer on Death Instrument for Real Estate
On January 1, 2012, the Illinois Residential Real Property Transfer on Death Instrument Act (755 ILCS 27) went into effect. With it, owners of residential real property in Illinois have a new choice for non-probate asset allocation—the transfer on death instrument (TODI).