Transfer-On-Death (TOD) Deeds
Passing real estate outside probate, when appropriate
Estate planning counsel for families in Bangor and nearby communities across Maine.
A Transfer-On-Death (TOD) Deed offers a simple, cost-effective way to designate who will inherit your real estate upon your passing—all while maintaining complete ownership and control during your lifetime. Because ownership transfers automatically upon death by operation of law, the property passes directly to your designated beneficiaries without going through the probate court process. Unlike adding an adult child or family member directly to your current deed, a TOD deed does not give your beneficiary any rights to the property during your lifetime. You remain free to sell, mortgage, or refinance the property, or revoke or update the deed at any time without their permission or signature.
Key Advantages of a Maine TOD Deed:
- Probate Avoidance: Transfers real property directly to your named beneficiaries immediately upon death.
- 100% Lifetime Control: You retain full ownership. You can sell, lease, or mortgage the property without consulting your beneficiaries.
- Total Flexibility: The deed is fully revocable. You can change your designated beneficiaries or cancel the deed at any point during your life.
- Protection Against Beneficiary Liabilities: Because your beneficiaries gain no present ownership interest, your property remains safe from their debts, creditors, or legal judgments while you are alive.
Under Maine law, strict statutory rules apply: the deed must be properly drafted, executed, and recorded in the appropriate Registry of Deeds before your passing. We will review your goals together, compare your options, and handle the formal drafting and recording to ensure your property transfers smoothly and securely.