A California Revocable Transfer-On-Death Deed form (TOD Deed) is a special form of deed that allows a California property owner to transfer property at death while retaining complete control over the property during life. The TOD Deed works like a beneficiary designation on a bank account. When the original owner dies, the property passes automatically to the beneficiaries designated on the deed. There is no need to probate the deceased owner’s estate.Although TOD Deeds are relatively new in … [Read more...]
Commission Issues Guidance on Recording California Transfer-on-Death Deeds
The California Law Revision Commission has issued recommendations and important guidance regarding the use Revocable Transfer-On-Death Deed Forms (TOD Deeds) in California.Although the California Law Revision Commission first recommended TOD Deeds in 2006, the California legislature did not authorize them until January 1, 2016. Just after the one-year anniversary of the new TOD Deed law, the Commission issued Memorandum 2017-6 on January 9, 2017. Background: The Importance of Title … [Read more...]
California Now Allows Revocable Transfer-On-Death Deeds
Effective January 1, 2016, California property owners may now use Revocable Transfer-On-Death Deeds to avoid probate of real estate in California. This relatively new deed form provides a simple way to transfer California real estate at death without having to go through California probate. It also avoids the expense and complication of a living trust for simple estates.With this new law, California joins a growing number of U.S. states that allow property to be transferred by TOD deed at … [Read more...]