What is a transfer on death deed?
Minnesota estate planning attorney Karen Schlotthauer explains that a transfer on death deed is like a beneficiary designation for real estate.
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A transfer on death deed is like a beneficiary designation for real estate. So people may have all non-probate assets, except for their home, and they want it to go to maybe one or two people. They can use a transfer on death deed to make that home a non-probate asset and avoid the use of, let’s say, a revocable trust in that situation. It’s a very low-cost, efficient, easy-to-implement alternative to a revocable trust.