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For example, real estate can have the designation via a transfer-on-death deed, and vehicles can have a TOD designation through a transfer-on-death title. ... Upon your death, estate taxes may ...
Transfer the Deed to the Beneficiary ... trust to pay the rest of the mortgage upon the trustor’s death. Therefore, it’s essential for the trustee to examine the trust documents to see what ...
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The transfer of equitable interests must be performed in writing by the owner or their agent. A gift is assumed when property owner deeds real estate as joint tenants with rights of survivorship. Regardless of contribution to purchase price, such a deed guarantees each tenant equal shares upon sale or partition of the property.
The ownership of a life estate is of limited duration because it ends at the death of a person. Its owner is the life tenant (typically also the 'measuring life') and it carries with it right to enjoy certain benefits of ownership of the property, chiefly income derived from rent or other uses of the property and the right of occupation, during his or her possession.
The names of these offices are usually the "Recorder of Deeds" or something similar. State statutes also prescribe the following elements: What instruments are entitled to be recorded, usually deeds, mortgages (whether or not in the form of deeds of trust), leases (usually longer term varieties), easements, and court orders. There is generally ...
Conveyance of Blackacre by the original grantee carries the original limitation with it, but the interest of the subsequent grantee could become fee simple absolute upon the original grantee's subsequent death. For example, A sells Blackacre to D. If A afterwards accepted an offer for a candy bar from C, Blackacre automatically goes to B.
A quitclaim deed may also be used to transfer title of a property to a purchaser following a foreclosure auction. Typically such a deed will not warrant that the property title is free and clear, and it remains up to the grantee to check that the property is not subject to any legal encumbrances. [11]
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