How Does My Loved One Claim Property Through a Transfer on Death Deed?

January 25, 2022

A transfer on death deed is a powerful tool for real estate planning purposes that allows your chosen beneficiary to receive access to a piece of land or real estate when you pass away without going through probate.

Transfer on death deeds let the property avoid probate but do not necessarily provide additional protections and the use of this deed should not take the place of writing a will. This document is similar to naming a beneficiary of a will because you can choose a charity, a business, a family member or a friend or even a living trust. It’s a good idea to establish a contingent beneficiary as well in the event that the primary beneficiary has passed away. There is no obligation to tell your named beneficiary about the deed, but you still might want to let them know so that there isn’t any confusion or questions when you do pass away. A transfer on death deed is a revocable tool which means that you can revoke it or change it at any point in time before passing away.

You will need to revoke the transfer on death deed in the same manner in which you created it and bear in mind that writing a will doesn’t change the transfer on death deed. The beneficiary is not responsible for the home in any way while you are still alive and therefore does not have legal ownership of the property during this time either. Many people choose a transfer on death deed to help avoid the cumbersome probate process and make it easier for their loved ones to get access to a home sooner rather than later.


Practice Areas:



Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Payment Portal
for Tax and Accounting invoice

This link offers a secure, quick way to complete your payment with Omni360 Advisors LLC.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts

Before You Sell Your Business: 7 Decisions to Make Years Before the Deal

Thinking about selling your business someday? Explore seven important decisions involving valuation, taxes, succession, estate planning, investing, risk management, and life after the sale. For many business owners, selling a company represents the culmination of decades of work, ...

<p>The post Before You Sell Your Business: 7 Decisions to Make Years Before the Deal first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

The Hidden Cost of Advisors Who Don’t Talk to Each Other

Financial decisions rarely happen in isolation. Learn how coordination among your financial advisor, CPA, estate attorney, and insurance professional can help create a more connected ...

<p>The post The Hidden Cost of Advisors Who Don’t Talk to Each Other first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

Protecting the Digital Side of Your Financial Life

Learn how to protect financial accounts, retirement assets, digital records, and estate-planning information from fraud, identity theft, and cybersecurity threats. Financial planning often focuses on ...

<p>The post Protecting the Digital Side of Your Financial Life first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>