CLTA News Express
An Express Article from the California Land Title Association
California Law Revision Commission Issues Recommendation on Transfer on Death Deed
Bulletin 06/07-32 - September 5, 2006
The California Law Revision Commission (CLRC) has analyzed the revocable transfer on death deed (revocable TOD deed), or beneficiary deed as it is known in some jurisdictions, for possible adoption in California. The revocable TOD deed transfers real property to a named beneficiary on the death of the owner without probate; it is revocable until that time.
The recommendation includes a comparison of existing real property donative transfer devices under California law and a review of experience in the nine jurisdictions that have enacted revocable TOD deed legislation. The recommendation also addresses in depth the legal incidents of the revocable TOD deed. The CLTA has commented extensively to the CLRC on the legal issues surrounding the TOD deed.
The Commission’s view is that existing real property donative transfer devices do not serve the same function as the revocable TOD deed and that experience with the revocable TOD deed is generally favorable in other jurisdictions. After weighing the advantages and disadvantages of the revocable TOD deed, the Commission believes that the TOD deed would be beneficial in California.
Public comments on the tentative recommendation are due by October 10, 2006. To review the entire report, go to:
