This form is a Transfer on Death Deed where the Grantor/Owner is an individual and the Grantee beneficiary is an individual. This transfer is revocable by Grantor until death and effective only upon the death of the Grantor. This deed must be recorded prior to Grantor's death. This deed complies with all state statutory laws.
A Bend Oregon Transfer on Death (TOD) Deed is a legal document that allows an individual owner/granter to transfer their property to an individual beneficiary upon their death. It is a form of estate planning tool in which the property does not go through probate but directly transfers to the designated beneficiary. This type of deed is often used by individuals who wish to pass their property to a specific person without the need for a will or trust. By designating a beneficiary, the owner/granter ensures that the property will be transferred seamlessly and avoid potential complications that can arise during probate proceedings. There are different types of Bend Oregon Transfer on Death Deeds that can be used depending on the specific circumstances: 1. Simple Transfer on Death Deed: This is the most common type of TOD deed and allows a straightforward transfer of the property from the owner/granter to the designated beneficiary upon death. 2. Contingent Transfer on Death Deed: This type of TOD deed allows the owner/granter to designate a primary beneficiary and a contingent beneficiary in case the primary beneficiary predeceases them or is unable to accept the property. 3. Joint Tenancy with Right of Survivorship: In this form of TOD deed, the owner/granter can transfer their property to a joint tenant, usually a spouse or partner. Upon the death of the owner/granter, the property automatically passes to the surviving joint tenant without the need for probate. By utilizing a Bend Oregon Transfer on Death Deed, individuals can have peace of mind knowing that their property will be transferred to their chosen beneficiary upon their passing. It is important to consult with a knowledgeable attorney or estate planner to ensure the TOD deed is properly executed to meet legal requirements and adhere to Oregon state laws.
