California Attorneys For Transfer On Death Deeds
Among other legal documents, transfer on death (TOD) deeds can hold an important place in transferring property to beneficiaries after you pass away. It can offer several possible advantages, but it can also pose a few risks.
At So. Cal. Realty Law, APC, in San Diego, we have a firm grasp of California real estate law, including transfer on death deeds. Our attorneys can provide irreplaceable guidance when seeking to lawfully change the ownership of property through a transfer on death deed. Visit our testimonial page to learn more.
What Is A Transfer On Death Deed?
Also known as a TOD deed, a transfer on death deed is a legal instrument allowing property owners to designate a beneficiary to inherit their property after they die.
The deed remains revocable during the property owner’s lifetime, meaning they can change or revoke the beneficiary designation at any time. The TOD deed takes effect upon death, transferring the property to the named beneficiary without the need for probate.
Creating Transfer On Death Deeds
To create a transfer on death deed, the property owner must complete a required form, which includes the property description and the name of the beneficiary.
The deed must be signed, notarized and recorded with the county recorder’s office where the property is located. Not following all legal requirements can render the deed unenforceable.
Possible Pitfalls Transfer On Death Deeds Can Pose
Despite their usefulness, transfer on death deeds can present challenges. Common issues can include vulnerability to legal contests by other heirs, limits on beneficiary designations and complicated post-death notification requirements. It also creates a mountain of red tape and paperwork for the beneficiary.
Additionally, title companies may decline to provide title insurance for a period, which can complicate the sale or refinancing of the property, making legal guidance paramount.
Call Our Office
Given the potential complexities and pitfalls associated with transfer on death deeds, it is crucial to seek professional legal advice.
At So. Cal. Realty Law, our experienced lawyers can help you navigate these challenges and ensure that your property is transferred according to your wishes. Contact us online or call our San Diego office at 619-826-8213 to schedule a consultation and learn how we can assist you with transfer on death deeds and other real estate matters.