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Transfer on Death Deed (Property)

A legal document that allows the transfer of property to designated beneficiaries upon the owner’s death outside of the probate process.

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Original price was: $212.56.Current price is: $103.55.

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Service Description

A Transfer on Death Deed (TODD) is a legal document that is used to transfer ownership of real estate property upon the death of the owner. This type of deed allows the owner to designate one or more beneficiaries who will inherit the property automatically upon the owner’s death, without having to go through the probate process. The transfer of ownership is automatic and can be completed quickly, without the need for court intervention.

The main advantage of a TODD is that it allows the owner to retain control of their property during their lifetime, while still providing a clear and efficient way to transfer ownership after their death. This is especially important for those who want to ensure that their property is passed down to their chosen beneficiaries without delay or interference from the court.

To create a TODD, the owner must complete and sign a legal document in the presence of a notary public. The document must include the name and address of the property, the name and address of the beneficiary or beneficiaries, and a statement indicating that the transfer of ownership will occur automatically upon the owner’s death. The document must also meet certain legal requirements specific to the state where the property is located.

It is important to note that a TODD only becomes effective upon the owner’s death. The owner retains full ownership and control of the property during their lifetime and can revoke or amend the TODD at any time. If the owner sells or transfers the property during their lifetime, the TODD becomes invalid.

A TODD can be an effective estate planning tool for those who want to avoid probate and ensure that their property is passed down to their chosen beneficiaries without delay. However, it is important to consult with an experienced attorney to ensure that the TODD meets the legal requirements in your state and is properly executed.

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