Fort Collins Colorado Revocation of Transfer on Death Deed or TOD - Beneficiary Deed

• Category: Colorado Real Estate - Deeds - Transfer on Death
• State: Colorado
• City: Fort Collins
• 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.

Fort Collins, Colorado Revocation of Transfer on Death Deed or TOD — Beneficiary Deed allows property owners to designate a beneficiary who will automatically inherit their property upon their death, without the need for probate. However, circumstances may arise where the property owner wishes to revoke or change the beneficiary designation. The process of revoking a Transfer on Death Deed involves legally canceling the previous beneficiary designation or the entire deed itself. This can be done by executing a Revocation of Transfer on Death Deed form. By completing this form, the property owner effectively cancels the previous beneficiary's right to inherit the property. There are different types of Revocation of Transfer on Death Deeds or TOD — Beneficiary Deeds in Fort Collins, Colorado: 1. Partial Revocation: This involves removing one or more designated beneficiaries while keeping the remaining designations intact. For example, if a property owner initially designated three beneficiaries but now wishes to remove one, they can file a partial revocation to exclude that particular beneficiary from inheriting the property. 2. Complete Revocation: This type of revocation cancels the Transfer on Death Deed entirely, removing all beneficiaries. It effectively nullifies the previous beneficiary designation, allowing the property owner to make changes or select new beneficiaries. 3. Amending the Beneficiary Designation: In some cases, instead of revoking the entire deed or removing beneficiaries, the property owner may prefer to amend the beneficiary designation. This involves replacing one or more beneficiaries with different individuals or entities who will receive the property upon the owner's death. It is important to follow the legal requirements and procedures for executing a Revocation of Transfer on Death Deed or TOD — Beneficiary Deed in Fort Collins, Colorado. These include properly completing the necessary forms, obtaining notarization, and adhering to any specific recording requirements mandated by the county recorder's office. Consulting with an experienced estate planning attorney in Fort Collins, Colorado is highly recommended ensuring that the revocation process adheres to all legal standards and protects the property owner's intentions. They can provide guidance during the revocation process and assist in the preparation of the required documentation.

Law summary