Minnesota Transfer On Death With Rights Of Survivorship

• Category: Real Estate - Deeds - Transfer on Death
• State: Minnesota
• Control #: MN-01-82
• Format: Word; Rich Text

Description

The Minnesota Transfer on Death Deed is a legal document that allows an individual (the Grantor Owner) to transfer property to a beneficiary (the Grantee Beneficiary) upon the Grantor Owner's death, while maintaining ownership during their lifetime. This form is particularly useful for providing a straightforward method of property transfer that bypasses probate, thus simplifying the estate settlement process. Users can complete the form electronically using form fields in Microsoft Word or Adobe Acrobat, or by printing it out for manual completion. It is essential to attach a legal description of the property as Exhibit A. In cases where the Grantee Beneficiary dies before the Grantor Owner, the user can designate a Successor Beneficiary. This form is primarily beneficial for attorneys, partners, owners, associates, paralegals, and legal assistants as it facilitates efficient estate planning and real estate transactions. Legal professionals should ensure compliance with Minnesota statutes and advise clients on the implications and limitations of the deed. It is important to note that while this form offers a streamlined approach for property transfer, users are encouraged to seek legal advice to ensure their specific needs and circumstances are addressed.