This form is a Transfer on Death Deed, or Beneficiary Deed, where the Grantor are two individuals or hsuband and wife and the Grantees are two individuals or husband and wife. If one Grantee Beneficiary fails to survive the Grantors their interest goes to their estate or the surviving Grantee Beneficiary. If neither Grantee Beneficiary survive the Grantors, the transfer fails and the deed is null and void. This transfer is revocable by Grantors until death and effective only if filed prior to the surving Grantor's death. This deed complies with all state statutory laws.
Arkansas Transfer On Death Form For Home
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State:
Arkansas
Control #:
AR-04-84
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Word;
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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?
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FAQ
Arkansas 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.
When 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.
Upon the owner's death, the property passes to the beneficiaries outside the Arkansas probate process. Beneficiary deeds?known in other states as transfer-on-death deeds or TOD deeds?are defined and allowed by law and have been recognized in Arkansas since 2005.
Arkansas charges a real property transfer tax for real estate transfers involving more than $100.00 in payment. The total transfer tax rate is $3.30 per $1,000.00 of consideration?two-thirds of which is expressly the new owner's responsibility.
In Arkansas, real estate can be transferred via a TOD deed, otherwise 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.