Transfer on Death Deeds Act Recording Now in Effect
The Transfer on Death Deeds Act, which was signed into law in September, would allow estate planning to be more accessible to those in marginalized communities through its straightforward process with clear easy-to-use forms. Kent County Recorder of Deeds –Gene Thornton tells the Talk of Delmarva…
After a 90-day waiting period, Delaware Counties are now recording what is called Transfer on Death Deeds. Kent County Recorder of Deeds –Gene Thornton tells the Talk of Delmarva about the differences between a will/trust and Transfer on Death Deed…
The Transfer on Death Act introduces non-probate transfer of real estate. This gives real property owners the ability to designate individuals as beneficiaries upon the owner鈥檚 passing. Governor Meyer signed the Transfer on Death Deed Act into law in September after the Delaware State Senate unanimously passed the legislation on June 30th.
All three Delaware counties are now accepting Transfer on Death Deeds. In September, Governor Matt Meyer signed House Substitute 1 for House Bill 147, also known as the Transfer on Death Act. Transfer on Death deeds are being recorded using a standardized form. Kent County Recorder of Deeds –Gene Thornton tells the Talk of Delmarva explains more about the deed…
The person named to receive the property has no legal claim to it until the owner鈥檚 death. This act maintains the owner鈥檚 full control of the property during their lifetime, and they can sell, change, or revoke the deed at any time.