This form is a Transfer on Death Deed where the Grantor Owner is an individual and the Grantee Beneficiaries are three individuals. This transfer is revocable by Grantor until death and effective only upon the death of the Grantor. The Grantees take the property as tenants in common or joint tenants with the right of survivorship. This deed complies with all state statutory laws.
Scottsdale Arizona Transfer on Death or TOD — Beneficiary Deed is a legal document that allows an individual granter to designate three specific individuals as beneficiaries of their real estate property upon their death. This deed type is commonly used in estate planning and can help avoid probate, making the transfer of property smoother and faster. In Scottsdale, Arizona, there are two main types of Transfer on Death or TOD — Beneficiary Deeds that involve individual granters naming three individuals as beneficiaries: 1. Revocable Transfer on Death — In this type of beneficiary deed, thgranteror retains the right to revoke or amend the deed at any time during their lifetime. This allows flexibility in the decision-making process, as the granter has the option to change the named beneficiaries or cancel the deed altogether if circumstances change. 2. Irrevocable Transfer on Death — Unlike the revocable version, the irrevocable beneficiary deed cannot be altered or revoked once it is executed and recorded. This option provides certainty to the named beneficiaries, who can be assured of their inheritance rights under the deed. It is essential for the granter to carefully consider their choices before executing this type of deed. Both types of beneficiary deeds allow an individual granter to designate three specific individuals as beneficiaries. These individuals will become the owners of the property upon the granter's death, bypassing the need for probate. It's important to consult with an experienced estate planning attorney in Scottsdale, Arizona, to understand the legal requirements and consequences of using a Transfer on Death or TOD — Beneficiary Deed.Scottsdale Arizona Transfer on Death or TOD — Beneficiary Deed is a legal document that allows an individual granter to designate three specific individuals as beneficiaries of their real estate property upon their death. This deed type is commonly used in estate planning and can help avoid probate, making the transfer of property smoother and faster. In Scottsdale, Arizona, there are two main types of Transfer on Death or TOD — Beneficiary Deeds that involve individual granters naming three individuals as beneficiaries: 1. Revocable Transfer on Death — In this type of beneficiary deed, thgranteror retains the right to revoke or amend the deed at any time during their lifetime. This allows flexibility in the decision-making process, as the granter has the option to change the named beneficiaries or cancel the deed altogether if circumstances change. 2. Irrevocable Transfer on Death — Unlike the revocable version, the irrevocable beneficiary deed cannot be altered or revoked once it is executed and recorded. This option provides certainty to the named beneficiaries, who can be assured of their inheritance rights under the deed. It is essential for the granter to carefully consider their choices before executing this type of deed. Both types of beneficiary deeds allow an individual granter to designate three specific individuals as beneficiaries. These individuals will become the owners of the property upon the granter's death, bypassing the need for probate. It's important to consult with an experienced estate planning attorney in Scottsdale, Arizona, to understand the legal requirements and consequences of using a Transfer on Death or TOD — Beneficiary Deed.
