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Because TOD accounts are still part of the decedent's estate (although not the probate estate that the will establishes), they may be subject to income, estate, and/or inheritance tax. TOD accounts are also not out of reach for the decedent's creditors or other relatives.

Upon death of the transferor, the beneficiary must file a Change in Ownership Statement with the county assessor within 150 days of date of death in accord with Revenue and Taxation Code section 480(b).

A deed is an action that you perform with intent, like turning in a lost wallet you find in a store. Definitely a good deed. The word deed is often used to describe acts of charity but an action doesn't have to be good to be called a deed ? people go to jail for their criminal deeds.

TOD Deeds Are Less Costly and Less Complex Than Living Trusts. Transfer on death deeds are a simplified document that specifies the owner of the real estate, the legal details of the real estate, and the beneficiaries that are going to inherit the property when the current owner passes away.

If you are the person keeping the property, take the deed to the Register of Deeds and record it after your ex-spouse has signed it and delivered it to you. There will be a $30 recording fee.

The primary advantage of a transfer on death deed is to avoid the probate process. If a property owner has executed a transfer on death deed, then as soon as the property owner dies, that property passes to the person named. The beneficiary does not have to go to court.

The signature of the grantor is mandatory on the quit claim deed to transfer the property. The grantee is not required to sign the deed in Michigan. The quit claim deed must be signed in front of a notary public, who attests to the fact that you are who you claim to be and that you signed the document.