Oregon Transfer On Death Deed Form With Beneficiaries
Description
How to fill out Oregon Transfer On Death Deed From An Individual Owner/Grantor To An Individual Beneficiary.?
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FAQ
In Oregon, real estate can be transferred via a TOD deed, also known as a beneficiary deed. This deed allows a property owner to designate a beneficiary who will automatically inherit the property upon the owner's death, avoiding probate.
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.
To create a transfer-on-death deed in Oregon, the property owner must execute and record a TOD deed that names one or more beneficiaries who will inherit the property upon the owner's death. The TOD deed must also describe the property and specify the ownership interest that is being transferred.
At your death, the real estate goes automatically to the person you named to inherit it (your "beneficiary"), without the need for probate court proceedings.
You must sign the deed and get your signature notarized, and then record (file) the deed with the county clerk before your death.