Real estate deeds transfer rights of ownership of a property from one person to another. New deeds are needed when there is a change such as ownership or an addition or deletion that needs to be made. Deeds can be prepared by an attorney, real estate office or a title company. However, sole individuals may also prepare a deed. For a deed to be enforceable, it must fulfill a few requirements:
Contact the county office in which the property is located. Generally, a blank deed can be found online at the county website. Download and/or buy the form. These forms can also be found at a local office store or title company. Make sure it is the right deed as counties require specifics on the forms.
Calculate the deed taxes on the property. This will be a different calculation for every state. Some states do not require transfer taxes (RLT) on property, but it is important to find out which states do. Transfer tax is determined by the type of form required by the county as well as the tax rate area (TRA).
Duplicate the current deed to a new deed. This applies only if a current owner is transferring (transferer) to a new owner (trustee). Everything else will remain the same given all the information is correct and accurate. The deed will need the property description, assessor’s parcel number and grantor and grantee names.
Notarize the deed. A notary public will watch and witness the deed signing. The person transferring the property will do the signing. This confirms a signature is not forged. Notarization is done with signatures, the date and a stamp.
File and record the deed with the county. After full completion of the deed, it will now need to be recorded in the county where the property is located. This office may be called a register of deeds, a land registry office or a county recorders office; all usually are located at the county courthouse. There is a small fee for recording a new deed.
Tips
It is best to hire an attorney to ensure accurate information is recorded with a new deed. Mistakes on a deed could be costly.
Confirm with the county office that you have the correct tax amount.
Warnings
In doing a transfer deed of property, contact the mortgage company to make sure there are no violations of the mortgage terms. The lender will need to provide written permission.
A new deed does not have to be recorded, but the former owner can continue getting mortgages, judgments and suits on your property because records in the courthouse would show he still owns it.
References
- 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.
Writer Bio
Michelle Hooper began writing professionally in 2006 as a Commercial Real Estate Reporter. She wrote for Crittenden Publishing, Inc. covering markets all over the United States, observing investment strategies of pension funds and financial advisers. In 2008 she published a book, “Online Investing: Everything You Need to Know Explained Simply,” with Atlantic Publishing Company. Hooper has a bachelor's degree in communications from Mesa State.