What Is a Transfer-on-Death Beneficiary for Property? Covid-19 ID Update. Read on to discover whether transfer-on-death beneficiary is an option for you. Transfer of Property After Death Without a Will When someone dies without a will, their estate is considered intestate and will be distributed amongst the decedent’s heirs … There are several requirements to create a valid transfer-on-death deed. Microsoft Edge. In this case, a court proceeding may be required to resolve the issue. | Last updated August 14, 2017. Every state has laws that direct what happens to property when someone dies without a valid will and the property was not left in some other way (such as in a living trust). A certified copy is one that is authenticated by your state's Department of Vital Statistics as being true and correct. If the real estate in question was not jointly owned by you and your spouse. You need take only one additional step to shore up your ownership interest in the real estate. The deed should state the following details: (1) your name as the owner of the property, (2) property description, and (3) the name of the beneficiary (s). We recommend using There is a lot of business to tend to when a spouse dies. Are you a legal professional? After a loved one dies, their property needs to be transferred or retitled. A common concern is how to transfer real estate. Today, the majority of the states allow transfer-on-death beneficiary deeds to leave property to someone after your death. Search, transfer property after your death without probate, Transfer on Death Beneficiary for Property. Or, beneficiaries and family members can sue each other to take the property entirely. Petition the probate court presiding over the case to approve the transfer of the real estate to you, pursuant to the terms of the will. You can create a transfer-on-death beneficiary deed (also called a beneficiary deed) to transfer property upon your death to a beneficiary you name in the deed. The deed should state the following details: (1) your name as the owner of the property, (2) property description, and (3) the name of the beneficiary(s). This is done after the court approves the proposed transfer. It is an affidavit used to identify the heirs to real property when the deceased died without a will (that is, intestate). The death certificate will be filed along with the existing deed to confirm transfer of the ownership interest in the real estate upon your spouse's death. If you recently experienced the death of your spouse, you likely have some questions about the different issues you need to address. Stay up-to-date with how the law affects your life, Name There are specific procedures used, depending on whether you jointly owned real estate with your spouse and whether your spouse had a last will and testament. Obtain from the Court Clerk a Petition to Probate Will form. The common practice is to leave real estate to the spouse, particularly if it is the family home. Assets owned in joint tenancy. review their last will and testament. Visit our professional site », Created by FindLaw's team of legal writers and editors When this happens, the intestacy laws of the state where you reside will determine how your property is distributed upon your death. Read More: The Transfer of Property Deed Upon a Spouse's Death. A right of surviorship transfers ownership to you automatically upon the death of your spouse. You can create a transfer-on-death beneficiary deed (also called a beneficiary deed) to transfer property upon your death to a beneficiary you name in the deed. If you die without a will, it means you have died "intestate." Types of Ownership. Typically, the mortuary or funeral home that handles your spouse's service and disposition will obtain these copies for you. In addition to living trusts and joint tenancies, a transfer-on-death deed is one of the ways to transfer property after your death without probate. Depending on your situation, there may be a better option, like a living trust, to transfer your property. He is an author/lecturer with two novels on the market internationally, "The Shadow Cast" and "The Miller Moth." Disadvantage of Transfer-on-Death Beneficiary Deeds. The deed should also explicitly state that it won't become effective until you pass away. When you name a beneficiary, who will obtain title to the property upon your death, you must do so according to the applicable state law. Begin typing to search, use arrow keys to navigate, use enter to select, Please enter a legal issue and/or a location. The process of doing so is regulated by state law and depends on the type of asset and how it was owned at the time of death. Fortunately, there are several ways to transfer property without going through the probate process. When someone passes away without a will or other estate planning in place, the laws of the state govern who stands to inherit their property. All rights reserved. Contact a qualified estate planning attorney to help with the probate process. For example, someone can aruge that you lacked capacity to create a valid deed. Other property, however, such as the deed to a house, requires the transfer of ownership by filing a new deed. It does not transfer title to real property. Generally, people prefer to avoid probate when it comes to estate planning because it can be expensive and time-consuming. Copyright © 2020, Thomson Reuters. Obtain a copy of the deed to the real estate in question from the county Register of Deeds office. If the deceased person owned the property with his or her spouse, then in certain states it could have been held in tenancy by the entirety (also called tenancy by the entireties). Prepare a deed to transfer the real estate to the individual designated in the will to receive the property.