Transfer On Death Deed Mn Instructions
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FAQ
What Is the Difference Between TOD and Beneficiary? A transfer on death is an instrument that transfers ownership of specific accounts and assets to someone. A beneficiary is someone that is named to receive something of value.
Transfer-on-Death deeds also do not allow for naming a contingent beneficiary on the deed like a trust document that owns the property does. Secondly, if the intended beneficiary is a minor, the minor would not be able to manage or transfer the property until they reach the age of 18.
An Affidavit of Survivorship is a legal document used in Minnesota to transfer the ownership of real estate from one party to another when one of the parties has died. It is typically used by the heirs of a deceased party to transfer the deceased's ownership interest in real estate to the surviving owner.
A Minnesota TODD must be either filed, or recorded, in the proper county real estate office before the death of the Grantor Owner(s) in order to achieve the objective of avoiding probate upon the death of the Grantor Owner(s) with respect to any real property interest identified in the Transfer on Death Deed.
You must sign the deed and get your signature notarized, and then record (file) the deed with the county recorder's office or county registrar of titles (see "Recording Your Deed" below to determine which) before your death. Otherwise, it won't be valid. You can make a Minnesota transfer on death deed with WillMaker.