ABSTRACT
This Article will examine one of the most recent will substitutes, the transfer-on-death (‘TOD’) real-estate deed. Nearly half of the states have recognized, through common-law forms or legislation, a mechanism to allow for the transfer of real property on death without using a will, without following the will formalities, and without necessitating probate. This new tool in the estate planner’s toolbox is invaluable: revocable trusts have proven too expensive for decedents of modest means, and wills continue to require formalities that can easily frustrate non-lawyer-drafted estate documents. But the variety of TOD deed rules and mechanisms that the different states have adopted has led to disparity and uncertainty in form and outcome, resulting in litigation and frustration of decedent’s intent.
We believe this uncertainty and frustration will continue as even more states adopt the Uniform Real Property Transfer on Death Act (‘URPTODA’), which purports to stabilize the law and facilitate testamentary intent …
Wright, Danaya C and Emrick, Stephanie, Tearing Down the Wall: How Transfer-on-Death Real-Estate Deeds Challenge the Inter Vivos/Testamentary Divide (2019) 78 Maryland Law Review 511; University of Florida Levin College of Law Research Paper No 20-8.
First posted 2020-03-21 08:37:00
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