A Transfer on Death Deed, also referred to as TODD, is a legal document that must be prepared before the homeowner or property owner dies. When a property owner files a Transfer on Death Deed, it is equivalent to naming a beneficiary or new property owner upon the current property owner's death. Minnesota offers the Transfer on Death Deed form as a PDF file that you can download, complete and then submit. The form will be recorded as part of the public record.
Obtain Form 10.8.4 from the State of Minnesota North Star system. You can visit the state website to download the form. This is the Transfer on Death Deed form used in Minnesota.
Complete Page 1 of the form. Fill in the date, the property owners' names and the names of any beneficiaries, as indicated by each line on the form. Do not yet sign or complete Page 2 of the form.
Check the correct box according to what triggers the property ownership transfer. You can choose for the beneficiary to receive ownership of the property when one of the grantors dies or when both die.
Write out the address of the property related to the deed transfer.
Take the form to a bank or notary office, sign the form in front of the notary and have it notarized.
Submit the completed, notarized form to the county clerk of court office where the property is located.
Tips
You can hire an attorney to draw up the transfer on death deed.
Warnings
Choose the transfer option carefully. One option automatically transfers the ownership upon the named property owner's death. The other option, when there are two or more property owners, allows for the transfer of ownership only after the last of the named parties dies.
Filing this form creates an automatic transfer of the property ownership or deed, which can keep the property out of probate court.
References
Tips
- You can hire an attorney to draw up the transfer on death deed.
Warnings
- Choose the transfer option carefully. One option automatically transfers the ownership upon the named property owner's death. The other option, when there are two or more property owners, allows for the transfer of ownership only after the last of the named parties dies.
- Filing this form creates an automatic transfer of the property ownership or deed, which can keep the property out of probate court.
Writer Bio
Kristie Lorette started writing professionally in 1996. She earned her Bachelor of Science degree in marketing and multinational business from Florida State University and a Master of Business Administration from Nova Southeastern University. Her work has appeared online at Bill Savings, Money Smart Life and Mortgage Loan.