Massachusetts 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

As a beneficiary in Massachusetts, you have several rights. At the most basic level, you are entitled to receive information about the estate and its administration. You also have a right to an accounting of the estate's assets, debts, and distributions.

Massachusetts does not allow real estate to be transferred with transfer-on-death deeds.

A revocable living trust can be used to avoid probate. A trust holds legal title to property for the benefit of another person (?beneficiary?). The person who creates the trust (?the grantor?) chooses a manager (sometimes themselves), known as the trustee, to manage the assets in order to protect them.

Whether an estate has to be probated depends on how the decedent's (the person who has died) property is titled (owned) when they die. Some property may not be part of the probate estate because it passes directly to another person by law.

In the case of registered land, a certified copy of the death certificate and an affidavit of no divorce should be filed in the Land Court if the property is held as tenants by the entirety. The filing fee to record each document is $106.00 for Recorded (Registry) land or $105.00 for ( Registered) Land Court land.

Beneficiaries have the right to be informed about the administration of the estate, including being notified about the start of the probate process. They have the right to receive a copy of the will and are entitled to an accounting of the estate's assets, debts, and distributions.

In Massachusetts, real estate cannot be transferred via a TOD deed. Other methods, such as joint ownership or a revocable living trust, must be used to avoid probate for real estate. This is a significant difference from many other states and is crucial to consider when planning your estate.