When you want to change your property's title to include the right of survivorship, you do it by redeeding the property "as joint tenants with rights of survivorship," or JTWROS. Changing the title vesting to JTWROS allows the ownership of the property to automatically pass to the other owner when one dies. It's frequently done by married and unmarried couples who don't want their house to have to pass through probate. Usually, you can do this with a simple quitclaim deed.
Talk to a real estate attorney. This is especially important if you are making any change to the actual people who own the property as opposed to just changing the way in which you own the property. Even if you are comfortable with looking up the old deed, preparing a new one and having it recorded, the attorney can advise you on the ramifications of changing your property's title vesting.
Look up your old deed to determine the exact title vesting. If you don't have a copy of your deed in your closing papers, it's kept on public record at your county recorder's office. You may need to pay a small fee to have a copy of the deed made.
Fill in a blank quitclaim deed, which is available from a title company or may also be available from your county recorder's office. You will need to have the old owner, written exactly as it was on the old deed, quitclaim the ownership to the new owner as joint tenants. The language you will use varies depending on your state's laws. You will also need to fill in your property's legal description as it appears on your old deed.
Sign and date the deed in front of a notary. Every owner named on the old deed will need to sign the new one and have their signatures notarized.
Bring the deed to your county recorder's office and have it recorded. You will usually have to pay a fee for the service. This will make your change of title official.
Tips
A title company may be able to help you with the research, deed creation and recording process.
Warnings
A deed is a binding legal document and, if you make a mistake filling it out, you could give away the ownership to your house. If you aren't completely sure that you know what you're doing, enlist professional assistance.
Changing property ownership, as opposed to just giving another owner survivorship rights, could have other ramifications, which include triggering transfer tax liability, gift tax liability and a reassessment for property tax purposes.
References
- Stewart Virtual Underwriter: OK Deed-Quitclaim (Joint Tenancy) 1
- Stewart Virtual Underwriter: MT Deed-Quitclaim (Joint Tenancy) 1
- Stewart Virtual Underwriter: CT Deed - Quitclaim (Survivorship Form)
- Nolo: How Unmarried Couples Can Co-Own or Take Title to a Home
- California State Board of Equalization: Change in Ownership - Frequently Asked Questions
- Retirement Planning Services, Inc.: Property Ownership Issues That Concern Unmarried Couples
- Superior Court of California, County of Alameda. "What Are the Advantages of a Living Trust?" Accessed May 15, 2020.
- AARP. "Transfer on Death Deed (TODD)," Page 1. Accessed May 15, 2020.
- Alaska Court System. "Transfer on Death Deed - What Does the Transfer on Death (TOD) Deed Do?" Accessed May 15, 2020.
- Alaska Court System. "Transfer on Death Deed - Do I Have to File the TOD Deed in Court?" Accessed May 15, 2020.
- Alaska Court System. "Transfer on Death Deed - How Do I Revoke the TOD Deed After It Is Recorded?" Accessed May 15, 2020.
- Internal Revenue Service. "Estate and Gift Taxes." Accessed May 15, 2020.
- FindLaw. "Transfer on Death Tax Implications." Accessed May 15, 2020.
- Alaska Court System. "Transfer on Death Deed." Accessed May 15, 2020.
- Arizona State Legislature. "33-405. Beneficiary Deeds; Recording; Definitions." Accessed May 15, 2020.
- FindLaw. "Arkansas Code Title 18. Property § 18-12-608. Beneficiary Deeds--Terms--Recording Required." Accessed May 15, 2020.
- Sacramento County Public Law Library & Civil Self Help Center. "Transfer on Death (TOD) Deeds," Page 1. Accessed May 15, 2020.
- Colorado General Assembly. "Probate, Trusts, and Fiduciaries," Pages 1-2. Accessed May 15, 2020.
- District of Colombia, Office of Tax and Revenue. "Revocable Transfer-on-Death Deed," Pages 1-3. Accessed May 15, 2020.
- Hawaii State Legislature. "Uniform Real Property Transfer on Death Act." Accessed May 15, 2020.
- Illinois General Assembly. "(755 ILCS 27/) Illinois Residential Real Property Transfer on Death Instrument Act." Accessed May 15, 2020.
- FindLaw. "Indiana Code Title 32. Property § 32-17-14-11." Accessed May 15, 2020.
- Kansas Legislative Sessions. "Article 35 - Transfer-on-Death." Accessed May 15, 2020.
- Minnesota Legislature, Office of the Revisor of Statutes. "507.071 Transfer on Death Deeds." Accessed May 15, 2020.
- Missouri Revisor of Statutes. "461.025. Deeds Effective on Death of Owner — Recording, Effect." Accessed May 15, 2020.
- Montana Code Annotated 2019. "72-6-415. Optional Form of Transfer on Death Deed." Accessed May 15, 2020.
- Nebraska Legislature. "Nebraska Revised Statute 76-3402." Accessed May 15, 2020.
- Nevada Legislature. "NRS 111.771 Property Held in Beneficiary Form; Registration in Beneficiary Form; Transfer-on-Death Directions." Accessed May 15, 2020.
- State Bar of New Mexico. "Transfer on Death Deed," Pages 1-2. Accessed May 15, 2020.
- North Dakota Legislative Branch. "Chapter 30.1-32.1 Uniform Real Property Transfer on Death Act," Pages 1-3. Accessed May 15, 2020.
- Ohio Laws and Rules. "5302.23 Designating Transfer on Death Beneficiary." Accessed May 15, 2020.
- Oklahoma Tax Commission. "'Non-Testamentary Transfer–on-Death-Deed’. Title 58, §1251-§1258. Eff. Nov. 1, 2008," Pages 1-7. Accessed May 15, 2020.
- Oregon State Legislature. "Uniform Real Property Transfer on Death Act." Accessed May 15, 2020.
- South Dakota Legislature. "Part 4. Uniform Real Property Transfer on Death Act - 29A-6-403." Accessed May 15, 2020.
- Texas Constitution and Statutes. "Texas Real Property Transfer on Death Act." Accessed May 15, 2020.
- Virginia General Assembly. "§ 64.2-635. Optional Form of Transfer on Death Deed." Accessed May 15, 2020.
- Washington State Legislature. "Chapter 64.80 RCW Uniform Real Property Transfer on Death Act." Accessed May 15, 2020.
- West Virginia Legislature. "Chapter 36. Estates and Property." Accessed May 15, 2020.
- Wisconsin State Legislature. "705.15 Nonprobate Transfer of Real Property on Death." Accessed May 15, 2020.
- State of Wyoming Legislature. "HB0201 - Transfer on Death Deed." Accessed May 15, 2020.
- Gibbs Law Office. "Using a Lady Bird Deed in Florida [Overview, Pros and Cons]." Accessed May 15, 2020.
- State Bar of Michigan. "Ladybird Deed," Pages 31-32. Accessed May 15, 2020.
- Sacramento County Public Law Library & Civil Self Help Center. "Transfer on Death (TOD) Deeds," Page 3. Accessed May 15, 2020.
- Sacramento County Public Law Library & Civil Self Help Center. "Transfer on Death (TOD) Deeds," Page 5. Accessed May 15, 2020.
- Sacramento County Public Law Library & Civil Self Help Center. "Transfer on Death (TOD) Deeds," Page 4. Accessed May 15, 2020.
Tips
Warnings
- A deed is a binding legal document and, if you make a mistake filling it out, you could give away the ownership to your house. If you aren't completely sure that you know what you're doing, enlist professional assistance.
- Changing property ownership, as opposed to just giving another owner survivorship rights, could have other ramifications, which include triggering transfer tax liability, gift tax liability and a reassessment for property tax purposes.
Writer Bio
Steve Lander has been a writer since 1996, with experience in the fields of financial services, real estate and technology. His work has appeared in trade publications such as the "Minnesota Real Estate Journal" and "Minnesota Multi-Housing Association Advocate." Lander holds a Bachelor of Arts in political science from Columbia University.