What are Transfer on Death Deeds?
Starting September 1, 2015, Texas will allow transfer on death deeds. This new document allows homeowners to designate beneficiaries of their real property before they die.
When the owner eventually passes away, the property will immediately pass to the designated beneficiaries. The property will still be subject to any liens or debts on the property. However, this immediate transfer allows for a swift, uncomplicated transaction, while still maintaining the flexibility of complete control and ownership of the property while the owner is alive.
Revoking Transfer on Death Deeds
Revoking transfer on death deeds is as simple as filing the appropriate revocation in the county records. This makes the whole process reasonably uncomplicated for folks that are looking to leave their loved ones with the easiest possible situation should they leave this world.
Transfer on death deeds is a great new tool coming to Texas residents. The Malolo Law Firm is ready to assist Texas residents in determining if this great new tool should be a part of their estate plans!
If you have any questions regarding if a transfer on death deed is right for you, call The Malolo Law Firm, PLLC,
in McKinney at (214) 620-2088. Protect your legacy for your loved ones and plan your way!
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- Posted by Charlie Malolo
- On July 18, 2016