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Beneficiary Deed

 

More Information about Beneficiary Deed

1. What is a Beneficiary Deed?
2. What is Probate?
3. Why create a Beneficiary Deed?
What is a Beneficiary Deed?

A "Beneficiary Deed" a.k.a. "Transfer on Death Deed" is a document that is filed to name the person who will inherit the real estate upon a property owner’s death. A beneficiary deed allows the property owner to transfer real estate to his/her heirs without going through the probate process. The beneficiary deed will only take effect once the property owner is deceased. The property owner will retain full control over the property and can sell the property anytime before his/her death.

The beneficiary deed must be filed before the property owner’s death and can be revoked or cancelled anytime before his/her death.

A beneficiary deed does have a disadvantage. Once the beneficiary deed is registered, it becomes a public document. This means that anyone can view a copy of your document and identify the names of your beneficiaries. If privacy is important, a Living Trust can help keep the beneficiares' names private.

Beneficiary Deeds are only available in the following states: Arizona, Arkansas, Colorado, Kansas, Missouri, Minnesota, Montana, Nevada, New Mexico, Ohio, Oklahoma, and Wisconsin. (This is not intended to be a complete list; Laws are subject to change)

We only prepare Beneficiary Deeds for Arizona and Nevada.

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