This affidavit is used to transfer the title of a parcel of land, attaching any existing covenants, upon the death of the Owners/Affiants to the designated beneficiary that survive the Owners/Affiants. It should be signed in front of a Notary Public. The form does NOT include provision for an alternate beneficiary in the event the designated beneficiary predeceases the owners. The designation of the beneficiary in an affidavit of transfer on death may be revoked or changed at any time, without the consent of that designated transfer on death beneficiary, by either owner of the interest by executing, in accordance with Chapter 5301 of the Ohio Revised Code and recording a transfer on death designation affidavit conveying the owner's entire, separate interest in the real property to one or more persons, including the Owner, with or without the designation of another transfer on death beneficiary.
The Franklin Ohio Transfer on Death Designation Affidavit, also known as TOD, is a legal document that allows the transfer of property from two individuals to one individual upon their death. This affidavit is commonly used in estate planning to ensure a smooth transition of assets and avoid the probate process. Types of Transfer on Death Designation Affidavits in Franklin Ohio: 1. Real Estate TOD Affidavit: This type of affidavit is specifically designed for transferring ownership of real estate properties from two individuals to one individual. It outlines the details of the property, the names of the individuals involved, and the desired distribution upon death. 2. Bank Account TOD Affidavit: This type of TOD affidavit focuses on the transfer of bank accounts from two individuals to one individual. It allows the designated beneficiary to gain full access and control over the account after the death of the original account holders. 3. Investment Account TOD Affidavit: Similar to the bank account TOD affidavit, this document deals with the transfer of investment accounts, including stocks, bonds, and mutual funds. It ensures a seamless transition of ownership to the designated beneficiary. 4. Vehicle TOD Affidavit: The vehicle TOD affidavit enables the transfer of motor vehicles from two individuals to one individual. This document outlines the make, model, and identification details of the vehicles, as well as the desired distribution after the death of the owners. The Franklin Ohio Transfer on Death Designation Affidavit simplifies the transfer process and allows individuals to determine the fate of their assets after their passing. By using this legal instrument, individuals can avoid the probate process, which can be time-consuming and costly. It is important to consult with an attorney or estate planner to ensure the correct execution of the TOD affidavit and to confirm its compliance with local laws and regulations.The Franklin Ohio Transfer on Death Designation Affidavit, also known as TOD, is a legal document that allows the transfer of property from two individuals to one individual upon their death. This affidavit is commonly used in estate planning to ensure a smooth transition of assets and avoid the probate process. Types of Transfer on Death Designation Affidavits in Franklin Ohio: 1. Real Estate TOD Affidavit: This type of affidavit is specifically designed for transferring ownership of real estate properties from two individuals to one individual. It outlines the details of the property, the names of the individuals involved, and the desired distribution upon death. 2. Bank Account TOD Affidavit: This type of TOD affidavit focuses on the transfer of bank accounts from two individuals to one individual. It allows the designated beneficiary to gain full access and control over the account after the death of the original account holders. 3. Investment Account TOD Affidavit: Similar to the bank account TOD affidavit, this document deals with the transfer of investment accounts, including stocks, bonds, and mutual funds. It ensures a seamless transition of ownership to the designated beneficiary. 4. Vehicle TOD Affidavit: The vehicle TOD affidavit enables the transfer of motor vehicles from two individuals to one individual. This document outlines the make, model, and identification details of the vehicles, as well as the desired distribution after the death of the owners. The Franklin Ohio Transfer on Death Designation Affidavit simplifies the transfer process and allows individuals to determine the fate of their assets after their passing. By using this legal instrument, individuals can avoid the probate process, which can be time-consuming and costly. It is important to consult with an attorney or estate planner to ensure the correct execution of the TOD affidavit and to confirm its compliance with local laws and regulations.
