What is a transfer on death deed and how does it work?

A transfer on death deed (TODD) is a legal document that allows Maryland homeowners to determine who will take ownership of their property after their death. With a TODD, you can designate someone to inherit your property without going through the probate process. To create a TODD, you must meet certain requirements: you must be at least 18 years old; you must own the property in your name and have the right to transfer it; and the deed must be signed by you and recorded in the county land records. Once you have created the TODD, your designated beneficiary will automatically gain ownership of the property upon your death. There is no need to go through a lengthy probate process as there would be with a will. However, the TODD can be revoked or changed at any time as long as it is done so in writing and recorded in the county land records. To ensure that your intentions are carried out, it is important to keep your TODD up-to-date with your most current wishes. Before signing a TODD, it is important to talk to an estate planning attorney to make sure that your transfer on death deed is properly created and documented.

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What is a transfer on death deed and how does it work?

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