A Revocable Transfer on Death Deed (“RTODD”) is a deed of real property that designates a beneficiary to receive the property when the transferor dies. An RTODD enables a homeowner to transfer the property directly to a desired beneficiary without the expense of creating a trust or going through a probate proceeding. The statute authorizing the use of RTODDs was recently extended, adding additional rules and procedures in an effort to make RTODDs more useful.
This newly extended version of the statute comes with some of the changes listed below. RTODDs executed prior to January 1, 2022 will not be subject to these changes but will instead fall under the previous RTODD regulations.