This form is a Transfer on Death Deed where the Grantor/Owner is an individual and the Grantee beneficiary is an individual. This transfer is revocable by Grantor until death and effective only upon the death of the Grantor. This deed must be recorded prior to Grantor's death. This deed complies with all state statutory laws.
Oregon Transfer On Death Deed Form With Washington State
Category:
State:
Oregon
Control #:
OR-01-83
Format:
Word;
Rich Text
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How to fill out Oregon Transfer On Death Deed From An Individual Owner/Grantor To An Individual Beneficiary.?
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FAQ
The Transfer on Death Deed (?TODD?) is a great alternative to transfer Washington State Real Estate and avoid probate. It works equally as well for any Washington State property owner, whether a U.S. Citizen, U.S. Tax Resident, or Canadian Non-U.S. Resident.
Washington law is also more generous than some states in that it allows TOD deeds to be used to transfer any type of real estate. In many other states, TOD deeds can only transfer residential property. A Washington TOD deed cannot be used as a deed in lieu of foreclosure.
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.
In Washington, assets owned jointly usually pass directly to the surviving joint tenant upon the death of the other, avoiding probate. Conversely, a TOD provision allows an asset owner to designate a beneficiary who will receive the asset upon their death, also avoiding the probate process.
You must sign the deed and get your signature notarized, and then record (file) the deed with the county clerk's office before your death. Otherwise, it won't be valid. The beneficiary's rights. The person you name in the TOD deed to inherit the property has no legal right to it until your death.