Real Estate Estate Planning Documents

Real Estate Estate Planning Documents

Parties

Grantor (owner):

Beneficiary (recipient upon Grantor's death):

Property Identification

Operative Conveyance

Consideration: For good and valuable consideration, the receipt and sufficiency of which are acknowledged, Grantor hereby conveys, transfers and grants to Beneficiary the real property described above, to take effect upon Grantor's death. This Transfer-on-Death Deed is intended to be irrevocable as of Grantor's death and is executed to pass title to the Beneficiary without probate.

If the named Beneficiary predeceases the Grantor, then the property shall instead pass to:

Covenants, Encumbrances, and Acceptance

The conveyance is made subject to all recorded easements, restrictions, covenants, assessments, leases, and encumbrances affecting the property as of the date this deed is executed. Grantor makes no representation or warranty other than Grantor's authority to convey; Beneficiary accepts the property in its present condition and shall assume responsibility for payment of any taxes, assessments, mortgages and other encumbrances after the date of Grantor's death to the extent permitted by law.

Revocation and Amendment

Grantor reserves the absolute right to revoke or amend this Deed at any time prior to death by executing a recorded instrument indicating revocation or amendment. No act by Beneficiary, including taking possession or paying expenses, shall constitute an amendment or revocation of this Deed.

Recordation and Delivery

Grantor directs that this Deed be delivered for recordation upon Grantor's death. Until recorded, this instrument shall be held for the benefit of the Grantor and may be refiled or withdrawn by Grantor, or by Grantor's successor in interest, to effect any lawful revocation or modification permitted herein.

Disclosures

Please indicate known conditions affecting the property as of the date of execution:

Lead-based paint (if property built before 1978): Yes No

Known mold or water intrusion: Yes No

Prior structural damage or repair of load-bearing elements: Yes No

Known environmental hazard (asbestos, petroleum, underground tanks, soil contamination): Yes No

Miscellaneous Provisions

Governing Law: This Deed shall be governed by and construed in accordance with the laws of the state in which the property is situated. The parties agree that venue for any dispute arising under or related to this instrument shall lie in a court of competent jurisdiction in the county where the property is located.

Entire Agreement: This instrument constitutes the entire agreement between the parties with respect to the subject matter and supersedes any prior agreements, whether written or oral, concerning the disposition of the described property at death.

Severability: If any provision of this Deed is held invalid or unenforceable, the remaining provisions shall continue in full force and effect.

Costs and Fees: Costs of recordation, documentary transfer taxes, and any fees associated with recording or effecting transfer shall be paid as required by law. Should any party commence litigation to enforce this instrument, the prevailing party shall be entitled to recover reasonable attorney's fees and costs.

Execution

Effective date of this Deed (date of execution by Grantor):

Grantor attests under penalty of perjury under the laws of the state where the property is located that Grantor is the lawful owner of the property described above, that Grantor is of sound mind, and that Grantor executes this Deed voluntarily and with knowledge of its effect.

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