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What is a Beneficiary Deed?

A Beneficiary Deed is a deed executed by the owner of real estate stating who will receive that piece of property upon the death of the owner. It is analogous to putting a beneficiary on your retirement account or a POD/TOD (payable on death/transfer on death) designation on your car or bank account. The person named in the deed does not acquire any ownership in the property until the owner passes away. Once the owner passes, the person designated in the deed automatically becomes the owner of the property without any involvement from Probate Court. The deed does not change ownership of the property while the owner is living, and that deed can be revoked at any time. The law is specific about how that deed should be drafted and filed, and our office is very familiar with such deeds. We draft and file them on a regular basis.

Disclaimer

The choice of a lawyer is an important decision and should not be based solely upon advertisements. The information and materials on this Web site are provided for general informational purposes only, and are not intended to be, and is not, legal advice. This Web site attempts to provide quality information, but the law changes frequently and varies from jurisdiction to jurisdiction. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance.

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