New York Transfer on Death Deed

New York Revocable Transfer on Death Deed

NOTICE TO TRANSFEROR

You should carefully read all information at the end of this form. This form must be recorded before your death, or it will not be effective.

IDENTIFYING INFORMATION

Transferor or Transferors Making This Deed:

[FULL NAME OF OWNER 1], [OWNER 1 MAILING ADDRESS]

[FULL NAME OF OWNER 2], [OWNER 2 MAILING ADDRESS]

Legal description of the property:

PRIMARY BENEFICIARY

I designate the following beneficiary if the beneficiary survives me:

[FULL NAME OF BENEFICIARY], [BENEFICIARY MAILING ADDRESS]

[FULL NAME OF BENEFICIARY 2], [BENEFICIARY 2 MAILING ADDRESS]

ALTERNATE BENEFICIARY – Optional

If my primary beneficiary (or primary beneficiaries, if multiple) do not survive me, I designate the following alternate beneficiary if that beneficiary survives me:

[FULL NAME OF ALTERNATE BENEFICIARY]

[ALTERNATE BENEFICIARY MAILING ADDRESS]

TRANSFER ON DEATH

At my death, I transfer my interest in the described property to the beneficiaries as designated above. Before my death, I have the right to revoke this deed.

SIGNATURE OF TRANSFEROR OR TRANSFERORS MAKING THIS DEED

NOTARY ACKNOWLEDGMENT

A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.

State of ________________________ }

County of ________________________ }

On ________________________, 20____, before me, ________________________ (insert name and title of the officer), personally appeared ________________________ (seller’s name) who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed within the Transfer on Death Deed and acknowledged to me that they executed the same in their authorized capacity, and that by their signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument. 

I certify under PENALTY OF PERJURY under the laws of the state of ________________________ that the foregoing paragraph is true and correct. 

WITNESS my hand and official seal. 

Notary Public: ________________________

Print Name: ________________________

My Commission Expires: ________________________, 20____

(seal)

COMMON QUESTIONS ABOUT THE USE OF THIS FORM

What does the Transfer on Death (TOD) deed do?

When you die, this deed transfers the described property, subject to any liens or mortgages (or other encumbrances) on the property at your death. Probate is not required. The TOD deed has no effect until you die. You can revoke it at any time. You are also free to transfer the property to someone else during your lifetime. If you do not own any interest in the property when you die, this deed will have no effect.

How do I make a TOD deed?

Complete this form. Have it acknowledged before a notary public. Record the form in each county where any part of the property is located. The form has no effect unless it is acknowledged and recorded before your death.

Is the "legal description" of the property necessary?

Yes.

How do I find the "legal description" of the property?

This information may be on the deed you received when you became an owner of the property. This information may also be available in the county clerk's office of the county where the property is located. If you are not absolutely sure, consult a lawyer.

Can I change my mind before I record the TOD deed?

Yes. If you have not yet recorded the deed and want to change your mind, simply tear up or otherwise destroy the deed.

How do I "record" the TOD deed?

Take the completed and acknowledged form to the county clerk's office of the county where the property is located. Follow the instructions given by the county clerk to make the form part of the official property records. If the property is in more than one county, you should record the deed in each county.

Can I later revoke the TOD deed if I change my mind?

Yes. You can revoke the TOD deed. No one, including the beneficiaries, can prevent you from revoking the deed.

How do I revoke the TOD deed after it is recorded?

There are three ways to revoke a recorded TOD deed:

• Complete and acknowledge a revocation form and record it in each county where the property is located.

• Complete and acknowledge a new TOD deed that disposes of the same property and record it in each county where the property is located.

• Transfer the property to someone else during your lifetime by a recorded deed that expressly revokes the TOD deed. You may not revoke the TOD deed by will.

I am being pressured to complete this form. What should I do?

Do not complete this form under pressure. Seek help from a trusted family member, friend, or lawyer.

Do I need to tell the beneficiaries about the TOD deed?

No, but it is recommended. Secrecy can cause later complications and might make it easier for others to commit fraud.

I have other questions about this form. What should I do?

This form is designed to fit some but not all situations. If you have other questions, you are encouraged to consult a lawyer.