Ar Deed Beneficiary With Distribution
Description
How to fill out Arkansas Transfer On Death Deed Or TOD - Beneficiary Deed For One Individual To Two Individuals?
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FAQ
Hear this out loud PauseAt your death, the real estate goes automatically to the person you named to inherit it (your "grantee" or "beneficiary"), without the need for probate court proceedings. (Ark. Code Ann. § 18-12-608.)
Hear this out loud PauseWhen transferring property, a seller (often called the grantor), writes out a deed, transferring property to the buyer (often called the grantee). The deed is then recorded with the recorder in the county in which the property is located.
When the first spouse dies, the surviving spouse will automatically own the whole property. If you made a beneficiary deed together, it will take effect only when the second spouse has died. If you made one alone, it will take effect at your death only if your spouse dies before you do.
Hear this out loud PauseA beneficiary deed is a type of deed that transfers property to a beneficiary. Most deeds transfer property in the present. In contrast, a beneficiary deed can be used to make arrangements today to pass down property in the future.
Hear this out loud PauseArkansas Beneficiary (Transfer-on-Death) Deed Code Ann. section 18-12-608.) You must sign the deed and get your signature notarized, and then record (file) the deed with the county recorder's office before your death. Otherwise, it won't be valid.