Virginia Code 64.2-635: Optional form of transfer on death deed.
The following form may be used to create a transfer on death deed. The other sections of this article govern the effect of this or any other instrument used to create a transfer on death deed:
Terms Used In Virginia Code 64.2-635
- 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
- Beneficiary: means a person that receives property under a transfer on death deed. See Virginia Code 64.2-621
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Designated beneficiary: means a person designated to receive property in a transfer on death deed. See Virginia Code 64.2-621
- Inter vivos: Transfer of property from one living person to another living person.
- Property: means an interest in real property located in the Commonwealth that is transferable on the death of the owner. See Virginia Code 64.2-621
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Transfer on death deed: means a deed or conveyance of a cooperative interest authorized under this article. See Virginia Code 64.2-621
- Transferor: means an individual who makes a transfer on death deed. See Virginia Code 64.2-621
THIS DEED MUST BE RECORDED BEFORE THE DEATH OF THE OWNER(S), OR IT WILL NOT BE EFFECTIVE.
THIS DEED IS EXEMPT FROM RECORDATION TAXES UNDER § 58.1-811(J) OF THE CODE OF VIRGINIA OF 1950, AS AMENDED.
REVOCABLE TRANSFER ON DEATH DEED
THIS REVOCABLE TRANSFER ON DEATH DEED, dated as of the __________ day of _______________, is made by TRANSFEROR or TRANSFERORS (the Grantor(s)), whose address is ________________________________________.
This Revocable Transfer on Death Deed is made pursuant to the provisions of the Uniform Real Property Transfer on Death Act, Virginia Code § 64.2-621 et seq. In accordance with the provisions of the Uniform Real Property Transfer on Death Act, at my death, I transfer and convey my interest in the below described property to my designated beneficiaries as follows:
PRIMARY BENEFICIARY
I designate ____________________ as the designated beneficiary of the property if ____________________ survives me.
ALTERNATE BENEFICIARY — Optional
If my primary designated beneficiary does not survive me, I designate ____________________ as my alternate designated beneficiary if my alternate designated beneficiary survives me.
PROPERTY:
The legal description of the real property that shall be transferred at my death pursuant to this Revocable Transfer on Death Deed is as follows:
INSERT LEGAL DESCRIPTION
RIGHT TO REVOKE AND METHOD TO REVOKE DEED:
Before my death, I have the right to revoke this deed.
Under the Uniform Real Property Transfer on Death Act, an instrument is effective to revoke a recorded transfer on death deed, or any part of it, only if the instrument:
1. Is one of the following:
a. A transfer on death deed that revokes the transfer on death deed or part of the transfer on death deed expressly;
b. A transfer on death deed that names a designated beneficiary that is inconsistent with the designated beneficiary in a prior transfer on death deed;
c. An instrument of revocation that expressly revokes the transfer on death deed or part of the transfer on death deed; or
d. An inter vivos deed that expressly revokes the transfer on death deed or part of the transfer on death deed.
2. Is acknowledged by the transferor after the acknowledgment of the transfer on death deed being revoked and recorded before the transferor’s death in the land records of the clerk’s office of the circuit court where the deed is recorded.
After this transfer on death deed is recorded, it can be revoked only by an effective revocatory instrument recorded prior to the death of the transferor and may not be revoked by a revocatory act taken against or on the original or a copy of the recorded transfer on death deed.
The execution and recordation of this transfer on death deed does not limit the effect of an inter vivos transfer of the property.
At my death, a beneficiary takes the property subject to all conveyances, encumbrances, assignments, contracts, mortgages, liens, and other interests to which the property is subject at my death.
Witness the following signature and seals:
________________________________________ (SEAL)
TRANSFEROR
COMMONWEALTH OF VIRGINIA
CITY/COUNTY OF ____________________, to wit:
The foregoing instrument was acknowledged before me in the City/County of ____________________, Virginia this __________ day of _______________, by TRANSFEROR.
________________________________________
Notary Public
My commission expires: ____________________
Registration number: ____________________
2013, c. 390.