Revocable Transfer On Death Deed
What is a Revocable Transfer on Death Deed?
Revocable Transfer on Death Deed is a relatively new document under the Texas Estates Code that allows an individual (and married couple) to list a beneficiary to their property so that the property (home) automatically transfers to that person (beneficiary) upon their death.
Do I need a revocable transfer on death deed?
The property does not automatically transfer to a spouse or a child when that individual passes away – this is a common misconception in Texas. Therefore, we rely on Probate and the Probate Courts to determine who is entitled to a property after someone passes.
Can the Revocable Transfer on Death Deed Help Me Avoid Probate?
Yes. The Revocable Transfer on Death Deed makes the home a nonprobate asset and can eliminate the need to probate the estate if the only asset is a home. A Revocable Transfer on Death Deed is valid and executable even if there is a mortgage owing to the home.
How long is a revocable transfer on death deed good for?
The Transfer on Death Deed is revocable at any time and only becomes valid upon a person’s death.
When is a revocable transfer on death deed valid?
The Deed must be filed during the person’s lifetime to become valid upon their death. If the deed is not filed during that person’s lifetime, then the Transfer on Death Deed cannot be used or presented and the estate must be probated (some exceptions do apply) to properly transfer title to the home.
Can I still get a revocable transfer on death deed if I have a mortgage?
Yes. Whether you own your home completely or if there is a mortgage, you will still want to get a revocable transfer on death deed.
Does my home automatically pass to my spouse husband/wife when I die?
No. A home or property does not automatically transfer to the spouse when a spouse dies even if both are listed on the deed. That is why the Revocable Transfer on Death Deed is so important and can save a lot of money and time when someone passes. The property will automatically pass to the surviving spouse or a listed beneficiary if a revocable transfer on death deed is executed and filed with the property records while that individual is living.
What do I need to start a Revocable Transfer on Death Deed?
Just your address. We just need your address, and then the name, phone number and address of the person you want to list as your beneficiary (which can be your spouse). We can get it done very quickly.
How do I avoid probate of my home?
Revocable Transfer on Death Deed. If you have a revocable transfer on death deed signed and filed with the property records, then you can avoid your home going through probate.
How do I get my home to pass automatically to my spouse, beneficiaries or heirs when I die?
Revocable Transfer on Death Deed. You can list to whom you want your property to go to when you die. The transfer on death deed is filed with the property records while you are living. After you die, a death certificate is submitted to the property records and the property will pass without probate.
How do I get started on a Revocable Transfer on Death Deed?
Call the Oxner Legha Law Firm at 346-327-9500 to set up a consultation.
Can I list more than one person in my Revocable Transfer on Death Deed? Yes. You may list as many primary beneficiaries and alternate beneficiaries as you want.
Does my Executor decide who gets me home if I have a Revocable Transfer on Death Deed?
No. A Revocable Transfer on Death Deed means that the home or property passes without the need for probate. The will does not alter the Revocable Transfer on Death Deed. Executors are listed in wills. The will does not affect the Revocable Transfer on Death Deed. You can have Revocable Transfer on Death Deed and not a will and vice versa.