This form is a Beneficiary or Transfer on Death Deed where the Grantor is an individual and the Grantee is a Trust. This transfer is revocable by Grantor until his or her death and effective only upon the death of the Grantor. The Deed does NOT have provisions for a successor or secondary contingent beneficiary. This deed complies with all state statutory laws.
A Green Bay Wisconsin Transfer on Death Deed, also known as a TOD — Beneficiary Deed from Individual to a Trust, is a legal document used to transfer ownership of real estate property upon the death of the owner. This specific type of deed does not include an Alternate Beneficiary Provision, meaning that if the designated beneficiary predeceases the property owner, the property will not pass to an alternate beneficiary. A TOD — Beneficiary Deed allows an individual (the granter) to transfer their property to a named beneficiary (or beneficiaries) upon their death, while avoiding probate. This means that the property will pass directly to the beneficiary without the need for a court process. The beneficiary must survive the granter in order to receive the property. By using a TOD — Beneficiary Deed, the property owner retains full control and ownership of the property during their lifetime, including the ability to sell, mortgage, or modify the property. It only becomes effective upon the owner's death. This type of deed can be particularly useful in estate planning, as it allows for the seamless transfer of property to a chosen beneficiary. It is important to note that a TOD — Beneficiary Deed does not bypass any existing mortgages or liens on the property. While the Green Bay Wisconsin Transfer on Death Deed or TOD — Beneficiary Deed from Individual to a Trust does not include an Alternate Beneficiary Provision, there are other variations of TOD Deeds that do accommodate alternate beneficiaries. Some of these include: 1. Green Bay Wisconsin Transfer on Death Deed or TOD — Beneficiary Deed from Individual to a Trust with Alternate Beneficiary Provision: This type of deed allows the property owner to designate an alternate beneficiary in the event that the primary beneficiary predeceases them. If the primary beneficiary is unable to accept the property, it would then pass to the alternate beneficiary. 2. Green Bay Wisconsin Transfer on Death Deed or TOD — Beneficiary Deed from Individual to a Trust with Contingent Beneficiary Provision: This type of deed allows the property owner to designate a contingent beneficiary who would receive the property if the primary beneficiary is unable or unwilling to accept it. In conclusion, a Green Bay Wisconsin Transfer on Death Deed or TOD — Beneficiary Deed from Individual to a Trust without an Alternate Beneficiary Provision is a legal document that allows for the transfer of property to a designated beneficiary upon the owner's death. It offers an efficient way to pass real estate assets outside of probate, ensuring a smoother transition of ownership.A Green Bay Wisconsin Transfer on Death Deed, also known as a TOD — Beneficiary Deed from Individual to a Trust, is a legal document used to transfer ownership of real estate property upon the death of the owner. This specific type of deed does not include an Alternate Beneficiary Provision, meaning that if the designated beneficiary predeceases the property owner, the property will not pass to an alternate beneficiary. A TOD — Beneficiary Deed allows an individual (the granter) to transfer their property to a named beneficiary (or beneficiaries) upon their death, while avoiding probate. This means that the property will pass directly to the beneficiary without the need for a court process. The beneficiary must survive the granter in order to receive the property. By using a TOD — Beneficiary Deed, the property owner retains full control and ownership of the property during their lifetime, including the ability to sell, mortgage, or modify the property. It only becomes effective upon the owner's death. This type of deed can be particularly useful in estate planning, as it allows for the seamless transfer of property to a chosen beneficiary. It is important to note that a TOD — Beneficiary Deed does not bypass any existing mortgages or liens on the property. While the Green Bay Wisconsin Transfer on Death Deed or TOD — Beneficiary Deed from Individual to a Trust does not include an Alternate Beneficiary Provision, there are other variations of TOD Deeds that do accommodate alternate beneficiaries. Some of these include: 1. Green Bay Wisconsin Transfer on Death Deed or TOD — Beneficiary Deed from Individual to a Trust with Alternate Beneficiary Provision: This type of deed allows the property owner to designate an alternate beneficiary in the event that the primary beneficiary predeceases them. If the primary beneficiary is unable to accept the property, it would then pass to the alternate beneficiary. 2. Green Bay Wisconsin Transfer on Death Deed or TOD — Beneficiary Deed from Individual to a Trust with Contingent Beneficiary Provision: This type of deed allows the property owner to designate a contingent beneficiary who would receive the property if the primary beneficiary is unable or unwilling to accept it. In conclusion, a Green Bay Wisconsin Transfer on Death Deed or TOD — Beneficiary Deed from Individual to a Trust without an Alternate Beneficiary Provision is a legal document that allows for the transfer of property to a designated beneficiary upon the owner's death. It offers an efficient way to pass real estate assets outside of probate, ensuring a smoother transition of ownership.
