As of September 1, 2015, Transfer on Death (TOD) deeds will now be allowed
in Texas. This type of deed is also sometimes referred to as a beneficiary
deed. A Transfer on Death deed allows you to leave real estate to someone
with a deed rather than through a will and probate. As a property owner,
you can now sign a deed to leave a piece of real property to a named beneficiary
upon your death. The transfer will not take effect until your death. Therefore,
you can revoke the deed, sell the property, or change the beneficiary
at any time. A named beneficiary does not have any rights until your death.
The TOD option can provide an alternative to probate for real property
that can affordably and efficiently pass clean title to real property
from generation to generation.
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