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You may be able to avoid probate in Indianapolis with a Transfer-on-Death agreement

An Indiana Transfer on Death Agreement is a legal document allowing an individual (the grantor) to designate beneficiaries who will inherit real property upon the grantor's death, without probate.

This agreement is governed by Indiana state law and is commonly used in estate planning to transfer real estate assets smoothly and efficiently to chosen beneficiaries upon the grantor's passing.

Avoid Indiana probate with a Transfer on Death Agreement
Avoid Indiana probate with a Transfer on Death Agreement

Here's how it typically works:

  1. Creation: The property owner creates a Transfer on Death (TOD) deed, naming one or more beneficiaries who will inherit the property upon the owner's death.

  2. Recording: The TOD deed is recorded in the county where the property is located. This ensures that the transfer of ownership is legally recognized.

  3. Ownership During Grantor's Lifetime: The grantor retains full ownership and control of the property during their lifetime. They can sell, mortgage, or otherwise transfer the property as they see fit.

  4. Transfer upon Death: Upon the grantor's death, the property automatically transfers to the named beneficiaries without the need for probate court involvement. The beneficiaries simply need to file an affidavit of survivorship and the grantor's death certificate to confirm the transfer of ownership.

  5. Executor's Role: While the property transfer bypasses probate, the executor of the grantor's estate still has certain responsibilities, such as paying any outstanding debts and taxes before the property is transferred to the beneficiaries.

A transfer-on-death agreement offers several advantages, including avoiding probate, maintaining privacy, and allowing for a quick and straightforward transfer of real estate assets to chosen beneficiaries.

We are not attorney's and this is not legal advice therefore, it's essential to consult with a legal professional familiar with Indiana law to ensure that the TOD agreement is properly executed and meets all legal requirements.

Contact Express Notary Plus today to schedule a convenient notary appointment.

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