Structure
In the state of Michigan, the Transfer-on-Death Deed (TOD) form serves as a valuable tool for property owners seeking to streamline the transfer of real estate upon their passing. This legally binding document allows individuals to designate one or more beneficiaries who will automatically receive ownership of the property, bypassing the often lengthy and costly probate process. By utilizing the TOD, property owners can maintain full control over their real estate during their lifetime, ensuring that their wishes are honored without the complications that typically accompany inheritance. The form must be properly executed and recorded with the county register of deeds to be effective, and it is essential to understand the implications of this choice, including the potential impact on tax liabilities and the rights of the beneficiaries. With careful consideration and proper completion, the Transfer-on-Death Deed can provide peace of mind, allowing individuals to focus on their legacy and the future well-being of their loved ones.
Form Example
Michigan Transfer-on-Death (TOD) Deed Template
This document outlines the format for a Transfer-on-Death Deed, which enables a property owner in Michigan to pass their property directly to a beneficiary upon the owner's death, bypassing probate court. This deed is governed by the Michigan Transfer on Death Act.
Instructions: Complete the blanks with the appropriate information. Ensure all details are accurate before signing and notarizing this document.
Prepared By:
_______________________
Address:
_______________________
City, State, ZIP:
_______________________
Date:
_______________________
Property Owner(s) (Grantor(s)):
_______________________
Address:
_______________________
City, State, ZIP:
_______________________
Legal Description of Property:
_______________________
Primary Beneficiary (Grantee):
_______________________
Address:
_______________________
City, State, ZIP:
_______________________
Secondary Beneficiary (Upon primary beneficiary’s inability to take ownership):
_______________________
Address:
_______________________
City, State, ZIP:
_______________________
Property Transfer: Upon the death of the Grantor(s), the described property shall transfer to the named Beneficiary(ies) as outlined above, subject to all encumbrances, reservations, and limitations that appear of record. Said property shall bypass the probate process.
Signature of Grantor(s):
_______________________
This document was signed in the presence of:
- Witness #1 Name: _______________________
- Address: _______________________
- City, State, ZIP: _______________________
- Witness #2 Name: _______________________
- Address: _______________________
- City, State, ZIP: _______________________
State of Michigan)
County of _______________)
Subscribed and sworn to (or affirmed) before me on this ___ day of ____________, 20__, by _______________________, the Grantor(s).
Signature of Notary Public: _______________________
My commission expires: _______________________
Recording Request By:
_______________________
Return to:
_______________________
Address:
_______________________
City, State, ZIP:
_______________________
Document Properties
| Fact Name | Details |
|---|---|
| Definition | The Michigan Transfer-on-Death Deed allows property owners to transfer real estate to beneficiaries upon their death without going through probate. |
| Governing Law | This deed is governed by the Michigan Compiled Laws, specifically MCL 565.25a. |
| Requirements | The deed must be signed by the property owner and recorded with the county register of deeds to be effective. |
| Revocation | The Transfer-on-Death Deed can be revoked by the property owner at any time before their death, provided the revocation is properly recorded. |
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