How to transfer a house deed to a family member in Kentucky?

Kentucky requires the person transferring property (the grantor) and the person receiving property (the grantee) to sign the deed. A deed from or to more than one person must be signed by all grantors and grantees. A deed involving an entity must be signed by a representative with legal power to act for the entity.

How do I transfer property after death in Kentucky?

A transfer on death deed, or a TOD Deed, allows for individuals to pass real property to a beneficiary upon their death. Because the transfer occurs through the deed itself and is made effective upon death, the transfer is not part of the probate process.

What is a life estate deed in Kentucky?

A life estate deed is a legal document that changes the ownership of a piece of real property. The person who owns the real property (in this example, Mom) signs a deed that will pass the ownership of the property automatically upon her death to someone else, known as the "remainderman" (in this example, Son).

Does a deed have to be recorded to be valid in Kentucky?

(1) All deeds, mortgages and other instruments required by law to be recorded to be effectual against purchasers without notice, or creditors, shall be recorded in the county clerk's office of the county in which the property conveyed, or the greater part thereof, is located.

Does Kentucky allow tod deeds?

Kentucky has not authorized transfer-on-death (TOD) deeds. Property owners in states that allow TOD deeds can record a TOD deed during life without giving up any rights in the property until the owner's death.

What states allow Tod accounts?

States that allow transfer on death deeds Alaska. Arizona. Arkansas. California. Colorado. District of Columbia. Hawaii. Illinois.

What is a transfer on death deed in Kentucky?

A transfer on death deed, or a TOD Deed, allows for individuals to pass real property to a beneficiary upon their death. Because the transfer occurs through the deed itself and is made effective upon death, the transfer is not part of the probate process.

What is the disadvantage of a Tod deed?

For more complex scenarios, there are many disadvantages of transfer-on-death deeds. TOD Deeds Are Not Effective for Multiple Beneficiaries or Contingent Beneficiaries. ... TOD Deeds Are Not Effective for Multi-Generational Inheritances. ... TOD Deeds May Be Voided Based on Legal Description.

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Kentucky Warranty Deed To Child Reserving A Life Estate In The Parents

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Prepared By and After Recording Return to: Send Tax Statements to Grantee (Name and Address): --------Above This Line Reserved For Official Use Only-------- WARRANTY DEED (Reserved Life Estate) KNOW.

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