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

A transfer on death deed (also referred to as a TODD) is an estate planning tool available in Oklahoma that allows an individual to designate who will receive their real estate upon death. This deed is recorded while the individual is alive and takes effect upon their death, bypassing the probate process. The way it works is that the individual, referred to as the “grantor,” will sign a TODD and have it recorded with the county recorder. In the document, they will designate a beneficiary or beneficiaries who will receive the piece of real estate upon the grantor’s passing. Upon the grantor’s death, the deed will be filed with the county clerk, who will issue a deed to the property to the designated beneficiaries without the need for a costly and lengthy probate process. The nice thing about using a TODD is that the grantor can update the document anytime they please, such as if the beneficiary changes or if there is a change in the status of the real estate. The document is also revocable, meaning the grantor can change their mind at any time and revoke the deed. Overall, a transfer on death deed is a useful estate planning tool available in Oklahoma that allows an individual to designate who will receive their real estate upon death, without going through the probate process.

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

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