US Legal Forms
Forms Kit
Deeds
Arkansas
Arkansas Beneficiary or Transfer on Death Deed or TOD - Husband and...

Arkansas Beneficiary Deed Example

Category:

Real Estate - Deeds - Transfer on Death

State:

Arkansas

Control #:

AR-04-84

Format:

Instant download

Description

The Arkansas Beneficiary Deed is a legal document that allows property owners to transfer real estate to designated beneficiaries upon their death, thus avoiding probate. This form is particularly applicable for individuals, couples, and partners who wish to simplify the transfer of property after death. Users will need to accurately fill out the form, specifying how grantees will hold the property, either as Tenants in Common, Joint Tenants with Right of Survivorship, or Tenants by the Entirety. The form includes fields that are compatible with both computer and hand completion, enhancing user experience. It's crucial to record the deed before the last surviving grantor's death to ensure its validity. This document is beneficial for attorneys, paralegals, and legal assistants who assist clients in estate planning, providing a straightforward framework for property transfer. Law practitioners may also utilize the form to advise clients on managing their assets effectively and understanding their options regarding property ownership. However, users are advised to consult with an attorney for specific legal advice tailored to their circumstances.

Owner seller affidavit form

View this form

Discovery Interrogatories from Plaintiff t...

View this form

User Oriented Software License Agreement

View this form

Tenant Self-Help Right

View this form

Change or Modification Agreement of Deed o...

View this form

Agreement for Work Change

View this form

Self-Employed Drywall Services Contract

View this form

Authority for Release of Medical Information

View this form

USLegal Law Pamphlet on Torts

View this form

Asset Purchase Agreement - More Complex

View this form

Release of Liability - General

View this form

How to fill out Arkansas Beneficiary Or Transfer On Death Deed Or TOD - Husband And Wife Or Two Individuals To Husband And Wife Or Two Individuals?

Legal administration can be daunting, even for the most experienced experts.

When you are searching for an Arkansas Beneficiary Deed Example and don't have the opportunity to spend time finding the right and latest version, the tasks can be taxing.

Access a valuable resource repository of articles, guides, and materials pertinent to your situation and needs.

Save time and effort searching for the documents you require, and utilize US Legal Forms’ advanced search and Review tool to locate Arkansas Beneficiary Deed Example and download it.

Leverage the US Legal Forms online library, backed by 25 years of expertise and reliability. Transform your daily document management into a simple and user-friendly process today.

If you possess a membership, Log In to your US Legal Forms account, search for the document, and download it.
Check the My documents tab to review the documents you previously saved and manage your folders as required.
If this is your initial experience with US Legal Forms, create a free account and enjoy unrestricted access to all features of the library.
Here are the steps to follow after downloading the necessary document.
Confirm it is the correct form by previewing it and checking its details.

Access state- or county-specific legal and organizational forms.
US Legal Forms addresses any requirements you may have, from personal to commercial documents, all in one location.
Utilize sophisticated tools to complete and manage your Arkansas Beneficiary Deed Example.

Form popularity

Trusted and secure by over 3 million people of the world’s leading companies

Beneficiary or Transfer on Death Deed or TOD - Husband and Wife or Two Individuals to Husband and Wife or Two Individuals

Title 18. Property.
Subtitle 2. Real Property
Chapter 12. Conveyances.
Subchapter 1. General Provisions.

18-12-608. Beneficiary deeds Terms Recording required. (Amended March 9, 2007 by Act 243)

(a)(1)(A) A beneficiary deed is a deed without current tangible consideration that conveys upon the death of the owner an ownership interest in real property other than a leasehold or lien interest to a grantee designated by the owner and that expressly states that the deed is not to take effect until the death of the owner.

(B)(i) A beneficiary deed transfers the interest to the designated grantee effective upon the death of the owner, subject to:

(a) All conveyances, assignments, contracts, leases, mortgages, deeds of trust, liens, security pledges, oil, gas, or mineral leases, and other encumbrances made by the owner or to which the real property was subject at the time of the owner's death, whether or not the conveyance or encumbrance was created before or after the execution of the beneficiary deed; and
(b) A claim for reimbursement of federal or state benefits by the Department of Health and Human Services from the estate of the grantor or the interest acquired by a grantee of the beneficiary deed under Section 20-76-436.

(ii) No legal or equitable interest shall vest in the grantee until the death of the owner prior to revocation of the beneficiary deed.

(2)(A) The owner may designate multiple grantees under a beneficiary deed.

(B) Multiple grantees may be joint tenants with right of survivorship, tenants in common, holders of a tenancy by the entirety, or any other tenancy that is otherwise valid under the laws of this state.

(3)(A) The owner may designate one (1) or more successor grantees, including one (1) or more unnamed heirs of the original grantee or grantees, under a beneficiary deed.

(B) The condition upon which the interest of a successor grantee vests, such as the failure of the original grantee to survive the grantor, shall be included in the beneficiary deed.

(b)(1) If real property is owned as a tenancy by the entirety or as a joint tenancy with the right of survivorship, a beneficiary deed that conveys an interest in the real property to a grantee designated by all of the then surviving owners and that expressly states the beneficiary deed is not to take effect until the death of the last surviving owner transfers the interest to the designated grantee effective upon the death of the last surviving owner.

(2)(A) If a beneficiary deed is executed by fewer than all of the owners of real property owned as a tenancy by the entirety or as joint tenants with right of survivorship, the beneficiary deed is valid if the last surviving owner is a person who executed the beneficiary deed.

(B) If the last surviving owner did not execute the beneficiary deed, the beneficiary deed is invalid.

(c)(1) A beneficiary deed is valid only if the beneficiary deed is recorded before the death of the owner or the last surviving owner as provided by law in the office of the county recorder of the county in which the real property is located.

(2) A beneficiary deed may be used to transfer an interest in real property to a trustee of a trust estate even if the trust is revocable, and may include one (1) or more unnamed successor trustees as successor grantees.

(d)(1) A beneficiary deed may be revoked at any time by the owner or, if there is more than one (1) owner, by any of the owners who executed the beneficiary deed.

(2) To be effective, the revocation shall be:

(A) Executed before the death of the owner who executes the revocation; and
(B) Recorded in the office of the county recorder of the county in which the real property is located before the death of the owner as provided by law.

(3) If the revocation is not executed by all the owners, the revocation is not effective unless executed by the last surviving owner and recorded before the death of the last surviving owner.
(4) A beneficiary deed that complies with this section may not be revoked, altered, or amended by the provisions of the owner's will.

(e) If an owner executes more than one (1) beneficiary deed concerning the same real property, the recorded beneficiary deed that is last signed before the owner's death is the effective beneficiary deed, regardless of the sequence of recording.

(f)(1)This section does not prohibit other methods of conveying real property that are permitted by law and that have the effect of postponing enjoyment of an interest in real property until the death of the owner.

(2) This section does not invalidate any deed otherwise effective by law to convey title to the interests and estates provided in the deed that is not recorded until after the death of the owner.

(g) A beneficiary deed is sufficient if it complies with other applicable laws and if it is in substantially the following form:

"Beneficiary Deed

CAUTION: THIS DEED MUST BE RECORDED PRIOR TO THE DEATH OF THE GRANTOR IN ORDER TO BE EFFECTIVE.

KNOW ALL PERSONS BY THESE PRESENTS THAT:

For a non-monetary, intangible consideration, of value to the Grantor, I (we) hereby convey to ____________ (grantee) effective on my (our) death the following described real property:

(Legal description)

________________________________

(Signature of grantor(s))

(acknowledgment)."

(h) The instrument of revocation shall be sufficient if it complies with other applicable laws and is in substantially the following form:

"Revocation of Beneficiary Deed

CAUTION: THIS REVOCATION MUST BE RECORDED PRIOR TO THE DEATH OF THE GRANTOR IN ORDER TO BE EFFECTIVE.

The undersigned hereby revokes the beneficiary deed recorded on ____________ (date), in docket or book ____________ at page ______, or instrument number ______, records of ____________ County, Arkansas.

Dated: ____________

_____________________

Signature

(acknowledgment)."

Beneficiary or Transfer on Death Deed or TOD - Husband and Wife or Two Individuals to Husband and Wife or Two Individuals

Title 18. Property.
Subtitle 2. Real Property
Chapter 12. Conveyances.
Subchapter 1. General Provisions.

18-12-608. Beneficiary deeds Terms Recording required. (Amended March 9, 2007 by Act 243)

(B)(i) A beneficiary deed transfers the interest to the designated grantee effective upon the death of the owner, subject to:

(a) All conveyances, assignments, contracts, leases, mortgages, deeds of trust, liens, security pledges, oil, gas, or mineral leases, and other encumbrances made by the owner or to which the real property was subject at the time of the owner's death, whether or not the conveyance or encumbrance was created before or after the execution of the beneficiary deed; and
(b) A claim for reimbursement of federal or state benefits by the Department of Health and Human Services from the estate of the grantor or the interest acquired by a grantee of the beneficiary deed under Section 20-76-436.

(ii) No legal or equitable interest shall vest in the grantee until the death of the owner prior to revocation of the beneficiary deed.

(2)(A) The owner may designate multiple grantees under a beneficiary deed.

(B) Multiple grantees may be joint tenants with right of survivorship, tenants in common, holders of a tenancy by the entirety, or any other tenancy that is otherwise valid under the laws of this state.

(3)(A) The owner may designate one (1) or more successor grantees, including one (1) or more unnamed heirs of the original grantee or grantees, under a beneficiary deed.

(B) The condition upon which the interest of a successor grantee vests, such as the failure of the original grantee to survive the grantor, shall be included in the beneficiary deed.

(2)(A) If a beneficiary deed is executed by fewer than all of the owners of real property owned as a tenancy by the entirety or as joint tenants with right of survivorship, the beneficiary deed is valid if the last surviving owner is a person who executed the beneficiary deed.

(B) If the last surviving owner did not execute the beneficiary deed, the beneficiary deed is invalid.

(2) A beneficiary deed may be used to transfer an interest in real property to a trustee of a trust estate even if the trust is revocable, and may include one (1) or more unnamed successor trustees as successor grantees.

(d)(1) A beneficiary deed may be revoked at any time by the owner or, if there is more than one (1) owner, by any of the owners who executed the beneficiary deed.

(2) To be effective, the revocation shall be:

(A) Executed before the death of the owner who executes the revocation; and
(B) Recorded in the office of the county recorder of the county in which the real property is located before the death of the owner as provided by law.

(3) If the revocation is not executed by all the owners, the revocation is not effective unless executed by the last surviving owner and recorded before the death of the last surviving owner.
(4) A beneficiary deed that complies with this section may not be revoked, altered, or amended by the provisions of the owner's will.

(2) This section does not invalidate any deed otherwise effective by law to convey title to the interests and estates provided in the deed that is not recorded until after the death of the owner.

(g) A beneficiary deed is sufficient if it complies with other applicable laws and if it is in substantially the following form:

"Beneficiary Deed

CAUTION: THIS DEED MUST BE RECORDED PRIOR TO THE DEATH OF THE GRANTOR IN ORDER TO BE EFFECTIVE.

KNOW ALL PERSONS BY THESE PRESENTS THAT:

For a non-monetary, intangible consideration, of value to the Grantor, I (we) hereby convey to ____________ (grantee) effective on my (our) death the following described real property:

(Legal description)

________________________________

(Signature of grantor(s))

(acknowledgment)."

(h) The instrument of revocation shall be sufficient if it complies with other applicable laws and is in substantially the following form:

"Revocation of Beneficiary Deed

CAUTION: THIS REVOCATION MUST BE RECORDED PRIOR TO THE DEATH OF THE GRANTOR IN ORDER TO BE EFFECTIVE.

The undersigned hereby revokes the beneficiary deed recorded on ____________ (date), in docket or book ____________ at page ______, or instrument number ______, records of ____________ County, Arkansas.

Dated: ____________

_____________________

Signature

(acknowledgment)."

Arkansas Beneficiary Deed Example

Description

Related forms

Viewed forms

How to fill out Arkansas Beneficiary Or Transfer On Death Deed Or TOD - Husband And Wife Or Two Individuals To Husband And Wife Or Two Individuals?

Form popularity

Trusted and secure by over 3 million people of the world’s leading companies

Arkansas Beneficiary Deed Example

Description

Related forms

Viewed forms

How to fill out Arkansas Beneficiary Or Transfer On Death Deed Or TOD - Husband And Wife Or Two Individuals To Husband And Wife Or Two Individuals?

Form popularity

Arkansas Beneficiary Deed Example Related Searches

Trusted and secure by over 3 million people of the world’s leading companies