Aurora Colorado Revocation of Transfer on Death Deed or TOD - Beneficiary Deed

• Category: Colorado Real Estate - Deeds - Transfer on Death
• State: Colorado
• City: Aurora
• Control #: CO-019-78
• Format: Word; Rich Text

Description

Revocation of Transfer on Death Deed - Colorado - This form is used to revoke a transfer on death beneficiary deed. An owner may revoke a beneficiary deed by executing an instrument that describes the real property affected, that revokes the deed, and that is recorded prior to the death of the owner in the office of the clerk and recorder in the county where the real property is located. The joinder, signature, consent, agreement of, or notice to, the grantee-beneficiary is not required for the revocation to be effective. A subsequent beneficiary deed revokes all prior grantee-beneficiary designations by the owner for the described real property in their entirety even if the subsequent beneficiary deed fails to convey all of the owner's interest in the described real property. The joinder, signature, consent, or agreement of, or notice to, either the original or new grantee-beneficiary is not required for the change to be effective. The most recently executed beneficiary deed or revocation of all beneficiary deeds or revocations that have been recorded prior to the owner's death shall control regardless of the order of recording. A beneficiary deed that complies with these requirements may not be revoked, altered, or amended by the provisions of the will of the owner.

Aurora, Colorado Revocation of Transfer on Death Deed or TOD-Beneficiary Deed is a legal document used to transfer ownership of real estate property in Aurora upon the death of the owner. This type of deed ensures that the property is directly passed to the named beneficiary without the need for probate. The Revocation of Transfer on Death Deed allows property owners in Aurora to revoke or cancel an existing TOD-Beneficiary Deed. This may be necessary if the owner wants to change the beneficiary, sell the property, or transfer the property to someone else before their death. By revoking the existing deed, the owner maintains control over the transfer of their property. The TOD-Beneficiary Deed, also known as a Transfer on Death Deed, is designed to streamline the transfer process and avoid probate. It allows the owner to name a beneficiary who will automatically inherit the property upon the owner's death. This type of deed bypasses the need for probate court and provides a clear and efficient way to transfer property rights. Different types of Aurora, Colorado Revocation of Transfer on Death Deed or TOD-Beneficiary Deed may include: 1. Single Transfer: This type of deed is used when the property owner wants to transfer the property to a single beneficiary upon their death. It is suitable for individuals who have a clear intention of leaving their property to a specific person. 2. Joint Tenancy Transfer: This deed is used when the property is jointly owned by multiple individuals, such as spouses or business partners. It allows the surviving owner to inherit the property upon the death of one owner, without the need for probate. 3. Successive Beneficiary Transfer: This type of deed allows the property owner to name multiple beneficiaries who will inherit the property in a specific order. For example, the property may first transfer to the spouse, then to children, and finally to grandchildren. 4. Alternate Beneficiary: This deed enables the property owner to name an alternate beneficiary who will inherit the property if the primary beneficiary predeceases them. It ensures that the property is always transferred to a chosen beneficiary, even if the primary beneficiary is unable to inherit. 5. Co-Beneficiary Transfer: This type of deed is used when the property owner wants to designate multiple individuals as equal beneficiaries, sharing ownership rights upon their death. It is common among siblings or business partners who jointly own a property. In conclusion, Aurora, Colorado Revocation of Transfer on Death Deed or TOD-Beneficiary Deed is a legal mechanism that simplifies the transfer of property rights upon the owner's death. It offers various types to cater to different needs and preferences, enabling property owners to dictate the distribution of their assets without the hassle of probate.

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