This form is a Transfer on Death Deed where the Grantors are husband and wife and the Grantee / Beneficiary is an individual. This transfer is revocable until Grantor's death and effective only upon the death of the last surviving Grantor. The primary beneficiary / Grantee takes the property if the primary beneficiary survives the Grantors. If the primary beneficiary fails to survive Grantors, the property would go to the secondary beneficiary if qualified. This deed complies with all state statutory laws.
Oregon Transfer on Death Deed from Two (2) Individuals or Husband and Wife to an Individual with provision for appointment of Alternative Beneficiary.
Category:
State:
Oregon
Control #:
OR-03-82
Format:
Word;
Rich Text
Instant download
Description Transfer Deed Form
Free preview Transfer Death Provision
How to fill out Legal Beneficiary Property?
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Oregon Transfer On Death Deed Other Form Names
Oregon Transfer Death Deed
Death Husband Wife
Or Transfer Deed
Or Wife Beneficiary
Or Transfer Death
Or Death Beneficiary
Transfer Death Deed Beneficiary
Or Transfer Death Deed FAQ
Get a Deed Form or Prepare Your Own. You can buy a state-specific TOD deed form for your state or type up your own document. Name the Beneficiary. Describe the Property. Sign the Deed. Record the Deed.
Effective January 1, 2012, Oregon law provides for a new form of deed known as a transfer on death (TOD) deed. These deeds allow an owner of real property to designate a beneficiary who will obtain title to that real property when the owner dies, without having to go through probate (subject to some exceptions).
When a joint owner dies, the process is relatively simple you just need to inform the Land Registry of the death. You should complete a 'Deceased joint proprietor' form on the government's website and then send the form to the Land Registry, with an official copy of the death certificate.
A TOD designation supersedes a will. For bank accounts, you can set up a similar account known as payable-on-death, sometimes referred to as a Totten trust. Your beneficiaries can't touch the account while you're alive, and you're free to change beneficiaries or close the accounts at any time.
Once you obtain a transfer-on-death deed, complete the form to name a beneficiary. The transfer deed will ask you to name the person(s) you wish to inherit your property. You can name multiple people as the beneficiary, as well as an organization. List the beneficiary's complete name and avoid titles.
If you'd like to avoid having your property going through the probate process, it's a good idea to look into a transfer on death deed. A transfer on death deed allows you to select a beneficiary who will receive your property, but only when you've passed away.
All you need to do is fill out a simple form, provided by the bank, naming the person you want to inherit the money in the account at your death. As long as you are alive, the person you named to inherit the money in a payable-on-death (POD) account has no rights to it.
A transfer on death (TOD) account automatically transfers its assets to a named beneficiary when the holder dies For example, if you have a savings account with $100,000 in it and name your son as its beneficiary, that account would transfer to him upon your death.