What is a Transfer on Death Deed?
A Transfer of Death Deed allows property to automatically be transferred to a new owner when the current owner dies. With a Transfer of Death Deed, the new owner will not have to go through the probate process. For families, this means if you have a child or heir, they can immediately take legal ownership upon your death. They can live in the home, rent, or sell it. If a Transfer of Death Deed is not in place, the property will go through the probate process, which could take a long time before anything is finalized. The Law Office of Steve Ortega, PLLC, can help generate a Transfer on Death Deed, making it easier to transfer your property to your designated beneficiary.
To be effective, the Transfer of Death Deed must have all the following:
The necessary elements and requirements of a recordable deed
The legal description of the property
The Name and Address of the beneficiary
Signature of the property owner (Grantor) in the presence of a Notary Public
A statement that the transfer of property will not occur until the death of the Grantor
Must be recorded before the Grantor’s death
Who Can Benefit from This Type of Deed?
Any homeowner in Texas can benefit from a Transfer on Death Deed. The homeowner will likely want to take advantage of the simple process to help make it easier to transfer ownership once they die. This is mainly used by middle- and lower-income families to transfer property once the owner passes away. The Law Office of Steve Ortega, PLLC, has helped many homeowners with a Transfer of Death Deed. Call our office if you have any questions or you would like to schedule an appointment.
