Missouri 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

A Missouri beneficiary deed form?also known as a Missouri transfer-on-death deed form or simply Missouri TOD deed form?is a written document that transfers real estate at an owner's death. It works in much the same way as a POD or TOD designation on a bank account.

Cons To Using Beneficiary Deed Estate taxes. Property transferred may be taxed. No asset protection. The beneficiary receives the property without protection from creditors, divorces, and lawsuits. Medicaid eligibility. ... No automatic transfer. ... Incapacity not addressed. ... Problems with beneficiaries.

A beneficiary deed is a type of deed that transfers property to a beneficiary. Most deeds transfer property in the present. In contrast, a beneficiary deed can be used to make arrangements today to pass down property in the future.

The fee charged by a local County Recorder of Deeds office to record a Beneficiary Deed averages between $24 and $30. The Grantor should contact the local County Recorder of Deeds office to inquire as to the current fee charged. Upon recording the deed the Recorder of Deeds office will mail the original to the Grantor.

If you make a beneficiary deed on your own, without the other joint tenants, the deed will be effective only if you are the last surviving owner of the property. If you die first, the surviving co-owner(s) will own the property, and the beneficiary deed won't have any effect. Tenancy in common.

Missouri Beneficiary Deed Rev. Stat. section 461.025.) You must sign the deed and get your signature notarized, and then record (file) the deed with the county recorder of deeds office before your death.

A beneficiary deed is a type of real estate deed that is used in estate planning to ensure that your home or land avoids probate. Missouri statute section 461.025 authorizes the use of beneficiary deeds in the state of Missouri.

$24.00 for the first page, $3.00 each additional page. A $25 non-standard fee will be added if the document does not meet the Missouri Document Formatting Standards. If you use eRecording, additional fees may be charged by the vendor.