What is a transfer on death deed?

Transfer on death (TOD) deeds are a legal tool in South Carolina that allows property owners to transfer real estate to a beneficiary without going through probate. To use a TOD deed, a property owner must sign a deed that names a beneficiary and records it with the county where the property is located. The deed takes effect upon the property owner’s death and transfers ownership of the property to the designated beneficiary. In South Carolina, the provisions and requirements of TOD deeds are governed by the state’s Uniform Real Property Transfer on Death Act. This act specifies that a TOD deed must be filed with the county clerk or register of deeds before the property owner’s death, and must include the property owner’s name, the legal description of the property, and the name of the designated beneficiary. The deed must also be signed in the presence of at least two witnesses. A TOD deed can be the simplest and most efficient way to transfer real estate after a person’s death. It does not require a court proceeding or the appointment of an executor, as a traditional probate process would. TOD deeds also provide advantages to the beneficiary by ensuring that they receive their share of the assets without any delay.

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What is a transfer on death deed?

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