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Georgia
Beneficiary Deed

Georgia Beneficiary Deed

Category:

Real Estate - Deeds - Transfer on Death

State:

Multi-State

Control #:

US-03279BG

Format:

Instant download

Description

A beneficiary deed is a another type of real property deed used to transfer property. By signing and recording a beneficiary deed, an owner of an interest in real property may cause the owner's interest in the real property to be conveyed to people or entities upon the owner's death. The interest in real property conveyed by a beneficiary deed does not take effect until the death of the owner, at which time that interest transfers automatically by law to the designated grantee named in the beneficiary deed.

This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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How to fill out Beneficiary Deed?

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FAQ

The executor will be charged with the duty to cause an ?Executor's Deed? or ?Assent to Devise? to be drafted, executed and filed with the real estate records office where the real estate is located. The ?Executor's Deed? or ?Assent to Devise? formally transfer title from the deceased to the intended beneficiary.

A property owner who creates a survivorship deed for an estate plan typically quitclaims the property to the owner and another person who the owner wants to ultimately own the property?such as the owner's spouse or child.

If one spouse passes away, then the property passes automatically to the surviving spouse. The community property law states are: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin.

Georgia recognizes joint tenancy with right of survivorship as a common form of joint ownership. This form allows multiple people or entities to own a title interest to the property, and comes with various rights and responsibilities.

Under Georgia law, there are two types of joint ownership. The first, known as ?Joint Ownership with Rights of Survivorship? means that two or more parties have simultaneous ownership of a property. When one of those parties dies, their share of the property passes to the surviving owner(s).

In Georgia, you can establish what is known as ?joint tenancy? to transfer ownership of property directly to a family member or loved one after your death. Real estate, vehicles, bank accounts, and other property can be owned jointly in this way, meaning they would not be subject to probate.

Transfer-on-Death Deeds for Real Estate Georgia does not allow real estate to be transferred with transfer-on-death deeds.

Property owned in joint tenancy automatically passes to the surviving owners when one owner dies. No probate is necessary. Joint tenancy often works well when couples (married or not) acquire real estate, vehicles, bank accounts or other valuable property together.

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