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Transfer on Death Deed - Portland, Oregon.

January 06, 2012

This new type of deed, effective for deaths on or after January 1, 2012, allows a person or persons (transferor(s)) to transfer an interest in real property to named beneficiaries at death, thus avoiding the need for the real property to pass through probate.  The deed must be recorded in the county where the real property is located before the death of the transferor(s).  The deed may be revoked any time before the transferor(s) death by the transferor(s) or, if designated in the deed, the transferor’s agent. 

When the real property is owned jointly by more than one owner, and every owner signs the transfer on death deed, ownership is only transferred to the named beneficiaries at the surviving transferor’s death.  The real property is transferred to the named beneficiary/beneficiaries subject to any liens, encumbrances, or claims.  As with a testamentary document, special care must be taken in drafting the nontestementary transfer on death deed to ensure the desired outcome is achieved.

An experienced estate planning attorney makes all the difference in making sure you have all the proper documents to fit your needs. Contact the Estate Planning attorneys with the Law Offices of Nay & Friedenberg of Portland, Oregon at (503) 245-0894 to set an appointment.