Transfer on Death Deed – No Probate Needed to Transfer Real Property
Avoid probate Corpus Christi!!
As of September 1, 2017, a new Texas state law went into effect that allows real property owners to record a “Transfer on Death Deed” (TOD) naming a beneficiary to own that real property after they die. It is sometimes called a beneficiary deed. With a properly recorded TOD, no probate is needed to transfer your real property.
Just like a beneficiary on a on a retirement or 401K account goes directly to the beneficiary outside of probate, the ownership of your home transfers on your death.
What is real property?
Real property includes land & improvements (that refers to the house) Personal property is not covered.
Do I still need a will?
The Transfer on Death Deed (TOD) does not replace a will.
What if I already have a will?
It doesn’t matter, you still can set up a TOD to keep your property out of probate. Having a will or not having a will, with no TOD will put your house in probate.
What about Medicaid Estate Recovery?
With the TOD on your home you are exempt from Medicaid Recovery
How do I transfer my home deed to a Transfer on Death Deed?
Consult with an attorney
Can I change my mind?
Yes, the TOD is revocable. You can change your mind.
How much does it cost to prepare a TOD?
Let’s put it this way, it’s the most cost-effective way to transfer your property on your death
**Consult with an attorney to prepare your paperwork and get all your questions answered.
Brought to you by Happy Heart Homes. Your local, family owned and trusted home buying and listing services. We know our local market and we love our elders. When you need someone to buy your inherited house, call us. 361.695.1943