Looking for a simple way to pass on your real estate to loved ones? Our beneficiary deed form and guide will allow you to do it yourself today.
Also ominously known as a transfer on death deed, this is actually a clever way to pass on your real estate to loved ones after death... because it allows you to skip the ugly process of probate.
Probate is a draggy and costly affair where the government decides who gets the property after someone dies. As you will expect, this takes a few months plus rakes up a few thousand dollars in legal and court costs.
Since a transfer on death deed form only kicks in upon death, you will still have absolute control over your property after signing it - You are welcome to rent the property, refinance it or even sell it. If your beneficiary pisses you off, you can always name another one by making a new deed.
So far 12 states have passed laws allowing the use of this deed - Arizona AZ, Arkansas AR, Colorado CO, Kansas KS, Missouri MO, Minnesota MN, Montana MT, Neveda NV, New Mexico NM, Ohio OH, Oklahama OK and Wisconsin WI.
Don't live in these states but still want to leave behind your real estate to loved ones? Then you can consider turning to a Life Estate Deed instead.
*Make sure this form complies with your local real estate laws before using it. If you have any doubts, you can ask a real estate lawyer online.
I (We) ______________________________ (Owner) hereby convey to ____________________
__________ (Grantee Beneficiary) effective on my (our) death the following described real property:
Property Address: _________________________________________________________________
Legal Description: _________________________________________________________________
If the Grantee Beneficiary precedes the Owner in death, then the conveyance to that Grantee Beneficiary shall either (choose one):
[ ] Become null and void.
[ ] Become part of the estate of the Grantee Beneficiary
Name(s) of Grantor(s): _____________________________________________________
Signature(s) of Grantor(s): __________________________________________________
STATE OF _________________________
COUNTY OF _________________________
On this day, personally appeared before me, _________________________, to me known to be the person(s) described in and who executed the within instrument, and acknowledged that he/she signed the same as his/her voluntary act and deed, for the uses and purposes therein mentioned.
Witness my hand and official seal hereto affixed on this day of _______________, 20__.
Notary's Public Signature: ______________________
My commission expires _______________.