This form is a Revocable Transfer on Death Deed where the Grantor is an individual and the primary beneficiary is an individual. Form contains an optional provision for designating an alternative beneficiary in the event the Primary Beneficiary does not survive the Transferor. This transfer is revocable by Grantor until Grantor's death and effective only upon the death of the Grantor. This deed complies with all state statutory laws.
Virginia Transfer On Death Deed Form With Beneficiaries
Category:
State:
Virginia
Control #:
VA-01-84
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Virginia Revocable Transfer On Death Deed From Individual To Individual?
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FAQ
You must sign the deed and get your signature notarized, and then record (file) the deed with the circuit court clerk's office before your death. Otherwise, it won't be valid.
Anyone can be named as a beneficiary of a TOD deed. You can name one person or more than one person, and you can choose how the individuals will receive the property, whether as Joint Tenants with Rights of Survivorship or as Tenants in Common etc.
§ 64.2-624. An individual may transfer property to one or more beneficiaries effective at the transferor's death by a transfer on death deed.
Virginia residents who own real estate property can use a transfer on death deed (TODD) to automatically transfer property directly to beneficiaries upon the owner's death. This can be a good estate planning strategy , especially for those whose primary asset is their house and they do not have much other property.
In Virginia, an owner of real property can transfer their ownership interest to one or more beneficiaries, effective upon their death, through a Transfer on Death Deed (?TOD Deed?). TOD Deeds automatically transfer ownership of the subject property directly to the designated beneficiaries upon the owner's death.