Alaska Statutes 13.48.120 – Optional form of transfer on death deed
The following form may be used to create a transfer on death deed. The provisions of this chapter govern the effect of this or any other instrument used to create a transfer on death deed.
(front of form)
REVOCABLE TRANSFER ON DEATH DEED NOTICE TO OWNER
You should carefully read all information on the other side of this form. Transferring real property by using a transfer on death deed may have important legal consequences in addition to designating who will receive the real property on the transferor’s death. These consequences may include, but are not limited to, (1) affecting the beneficiary‘s eligibility for public assistance; and (2) affecting creditors’ rights. If you have any questions, you should consult an attorney.
This form must be recorded before your death, or it will not be effective.
IDENTIFYING INFORMATION
Owner or Owners Making This Deed:
_________________________ _________________________
Printed name Mailing address
_________________________
Marital status
_________________________ _________________________
Printed name Mailing address
_________________________
Marital status
Legal description of the property:
____________________________________________________
PRIMARY BENEFICIARY/BENEFICIARIES
(Please list one or more primary beneficiaries. You may want to obtain legal advice before listing more than one primary beneficiary. There is more than one way to transfer property to several persons.)
I designate the following beneficiary if the beneficiary survives me:
_________________________ _________________________
Printed name Mailing address, if available
_________________________
Marital status
ALTERNATE BENEFICIARY/BENEFICIARIES – Optional
(You may list one or more alternate beneficiaries. You may want to obtain legal advice before listing more than one alternate beneficiary. There is more than one way to transfer property to several persons.)
If my primary beneficiary does not survive me, I designate the following alternate beneficiary if that beneficiary survives me:
_________________________ _________________________
Printed name Mailing address, if available
_________________________
Marital status
TRANSFER ON DEATH
At my death, I transfer my interest in the described property to the beneficiaries as designated above.
Before my death, I have the right to revoke this deed.
AUTHORITY OF DESIGNATED AGENT TO REVOKE THIS DEED
I authorize the following designated agent to revoke this deed before my death:
_________________________ _________________________
Printed name Mailing address
SIGNATURE OF OWNER OR OWNERS MAKING THIS DEED
_________________________ _________________________
Signature Date
_________________________ _________________________
Signature Date
ACKNOWLEDGMENT
State of ______________________________________ Judicial District (or County of ________________________ or Municipality of ___________________ )
The foregoing instrument was acknowledged before me this (date) by (name of person who acknowledged).
_______________________________
Signature of Person Taking
Acknowledgment
_______________________________
Title or Rank
_______________________________
Serial Number, if any
(back of form)
COMMON QUESTIONS ABOUT THE USE OF THIS FORM
What does the Transfer on Death (TOD) deed do? When you die, this deed transfers the described property, subject to any liens or mortgages (or other encumbrances) on the property at your death. Probate is not required. The TOD deed has no effect until you die. You can revoke it at any time. You are also free to transfer the property to someone else during your lifetime. If you do not own any interest in the property when you die, this deed will have no effect.
How do I make a TOD deed? Complete this form. Have it acknowledged before a notary public or other individual authorized by law to take acknowledgments. Record the form in each recording district where any part of the property is located. The form has no effect unless it is acknowledged and recorded before your death.
Is the “legal description” of the property necessary? Yes.
How do I find the “legal description” of the property? This information may be on the deed you received when you became an owner of the property. This information may also be available in the office of the recorder in the recording district where the property is located. If you are not absolutely sure, consult a lawyer.
Can I change my mind before I record the TOD deed? Yes. If you have not yet recorded the deed and want to change your mind, simply tear up or otherwise destroy the deed.
How do I “record” the TOD deed? Take the completed and acknowledged form to the office of the recorder in the recording district where the property is located. Follow the instructions given by the recorder to make the form part of the official property records. If the property is in more than one recording district, you should record the deed in each recording district.
Can I later revoke the TOD deed if I change my mind? Yes. You can revoke the TOD deed. Except for a court, no one, including the beneficiaries, can prevent you from revoking the deed.
How do I revoke the TOD deed after it is recorded? There are three ways to revoke a recorded TOD deed:
Terms Used In Alaska Statutes 13.48.120
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Fraud: Intentional deception resulting in injury to another.
- municipality: means a political subdivision incorporated under the laws of the state that is a home rule or general law city, a home rule or general law borough, or a unified municipality. See Alaska Statutes 01.10.060
- person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
- Probate: Proving a will
- property: includes real and personal property. See Alaska Statutes 01.10.060
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
I am being pressured to complete this form. What should I do? Do not complete this form under pressure. Seek help from a trusted family member, friend, or lawyer.
Do I need to tell the beneficiaries about the TOD deed? No, but it is recommended. Secrecy can cause later complications and might make it easier for others to commit fraud.
I have other questions about this form. What should I do? This form is designed to fit some but not all situations. If you have other questions, you are encouraged to consult a lawyer.