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Beneficiary deeds transfer property directly, avoiding the often costly and time-consuming probate process. When a property owner passes on, homes and other real estate can be transferred quickly and cleanly to beneficiaries.

Here’s what you need to know about beneficiary deeds

A beneficiary deed, or TOD deed (for “transfer on death”) is a special kind of property deed to convey real-estate interests effective upon the passing of the grantor. It may be necessary for reverse mortgages and other forms of real estate financing.

If there are multiple grantors (property owners), the deed becomes effective upon the passing of the final surviving grantor. Within families, the beneficiary deed passes real estate from one generation to the next.

Avoid probate

A beneficiary deed ensures a smooth succession by pre-determining the next owner(s) without taking the transfer through the lengthy probate process. Beyond speeding up the transfer, this document may make it possible for the pending new owner to qualify for loans or other benefits.

How it works

If you own real estate in Tucson or anywhere in Arizona, and the property is in your sole name (without any co-owner), you have options for transferring property. If you want to leave your real estate to a loved one or other beneficiary, you could place the assets into a living trust. However, a beneficiary deed is a simpler and more economical option for many people.

Peace of mind

This beneficiary deed can prevent difficult family conflicts over your real estate after you are gone. You can create the document and sign it now for your peace of mind.

The beneficiary deed will not take effect until after your passing (or after the subsequent death of your spouse). In the meantime, you can get a home mortgage, sell the property, or whatever you wish. Your designated beneficiary has no control over the property until the deed becomes effective.

Manage taxes and ease the succession

After an expert document preparation service creates your beneficiary deed, you sign and have it notarized before it gets recorded at the local courthouse. If you change your mind about who should inherit the property, you can take steps to revoke or modify the deed later.

An important advantage of a beneficiary deed is that you are not giving the property to anyone during your lifetime and these deeds typically do not incur a gift tax. However, your property is still legally considered an asset for purposes of the estate tax. Eventually taxes will be paid, but not right now.

Beneficiary deeds are popular because they offer the simplest way of avoiding the expense and emotional turmoil of court-ordered probate and immediate estate tax payments.

Beneficiary deeds in AZ

If peace of mind and the advantages of a beneficiary deed appeal to you, AZ Diamond Documents can help. We offer Arizona’s most comprehensive legal document preparation services. We can explain the full range of options for real estate documents, so you can decide what’s best for your own property.

Have a question about beneficiary deeds? Contact us now!

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Praise From People


MACON ERAHL
Tucson, AZ

Thank you very much! I appreciate it and everything you’re doing for us. Last night was the first time I slept good in a week after meeting with you, you definitely lifted a lot off my chest. Again, thank you!


MACON ERAHL
Tucson, AZ

Thank you very much! I appreciate it and everything you’re doing for us. Last night was the first time I slept good in a week after meeting with you, you definitely lifted a lot off my chest. Again, thank you!

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