Category: Transfer on Death Deed
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Iowa Deed News: Transfer-on-Death Debate, Property Tax Update, and Eminent Domain
Lisa Houser, who directs Habitat for Humanity of Iowa, tells some harrowing stories. Stories of residents who deal with broken HVAC systems in extreme weather, or suffer major damage in disasters. Residents who’d be eligible for aid—if only the deed were in their names! The cost of probate keeps quite a few households sidelined from…
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Delaware Deed Holders May Transfer Home After Death Without Probate
If you hold the deed to a Delaware home, you may leave it to someone else without using a will. This way, your home can skip the time-consuming probate process by way of a simple form. Following a legal trend that’s gained momentum in recent years, Delaware made transfer on death (TOD) deeds valid…
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Passing Your Texas Home On, With a Lady Bird Deed
A lady bird deed is simply an enhanced life estate deed. It’s popular with older adults who want to keep lifetime rights in a deed and then have it smoothly pass along to the next owner. It’s a unique way of conceptualizing co-ownership. It divides the value of real estate in time segments. The enhanced…
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Arizona Transfer on Death Deed: Understanding the Beneficiary Deed
If you’re searching for an Arizona transfer on death deed, you’re not alone — and you’re not far off. Arizona offers a powerful estate planning tool that accomplishes exactly what a transfer on death deed does, but the state calls it by a different name: the beneficiary deed. This distinction matters. Understanding that Arizona’s beneficiary…
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Consider This Before Creating a Life Estate Deed
Say you decide you’d like to stay in your home for life. After all, with the costs for assisted living going through the roof, holding your deed might be the best senior living plan! You can certainly draw up a life estate deed, and convey your property into a co-ownership with someone — a friend,…
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Can Co-Owners Use a Transfer on Death Deed for Real Estate?
Can co-owners plan to pass a home along using the revocable transfer on death deed (TODD)? Yes. If your state recognizes the TOD deed (also known simply as TODD) for real estate, there will be an official state form. Alternatively there will be a sample included in your state’s law, which you can look up.…
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Transfer on Death Deed: Second Thoughts?
Avoiding the probate courts is an important goal for some homeowners. That’s why the transfer on death deedhas achieved popularity. One by one, most states have now adopted the option. Sometimes called the TOD deed, or just TODD, it offers a relatively simple way for a deed holder to say who’ll get the deed next.…
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New in New York: Transfer on Death Deeds
In July 2024, the brand-new Transfer on Death Deed Law went into effect in New York State. Residents are now free to create and record a transfer on death deed (also known as the TODD or TOD deed). If you know who you’re leaving your home to, and that person doesn’t already hold rights of…
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Understanding Life Estate Deeds: Benefits and Drawbacks
It’s possible to deed your property into a co-ownership with the person who will receive your home after your life. Perhaps you plan to leave your house to an adult child, or even a friend. A life estate deed is one option. It keeps you in your home for life. After your life, your home bypasses probate,…
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Understanding Transfer on Death Deeds (TODDs) and Their Introduction in Georgia
A Transfer on Death Deed (TODD) is a legal document that allows property owners to transfer real estate to a beneficiary upon their death without the need for probate. This type of deed is designed to simplify the process of property transfer, ensuring that the designated beneficiary receives the property directly, avoiding the lengthy and…
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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…
