How do you use a free beneficiary deed form to pass on your real estate?


Quick Answer

Use a free beneficiary deed form to pass on real estate by ensuring the deed conforms to the state laws where the property is located, naming the beneficiary and indicating how the beneficiary is to take title. A description of the property is also needed on the deed form.

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Full Answer

A beneficiary deed is one that names beneficiaries who are set to inherit property immediately upon the death of the grantor. This eliminates the need for the property to go into probate. To legally name the beneficiary, the deed must conform to the laws of the state in which the property is located. The deed names the current owner of the property, describes the property, and names the recipient of the property. A beneficiary deed contains additional information stating that the beneficiary does not take title to the property until the grantor dies.

The beneficiary named in the deed has no right to the property until the owner dies, or if the property is jointly owned, all owners are deceased. The beneficiary does not have to sign or acknowledge the deed. Grantors can also name an alternate beneficiary who can inherit the property if the first named beneficiary is not alive at the time of the grantor's death. If no one survives the grantor, state law dictates who inherits the property.

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