Definition
A TOD (Transfer-on-Death) Deed conveys property to a named beneficiary upon your death without probate. You retain full ownership and control during life and can revoke anytime.
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TOD deeds (transfer-on-death deeds) provide probate-free property transfer to named beneficiaries. The owner retains full ownership and control during life and can revoke the deed at any time. Upon death, property transfers directly to the TOD beneficiary outside probate. TOD deeds are simpler than creating trusts but are only available in certain states and may not be recognized in all jurisdictions.
Pro Tip
Check whether TOD deeds are available in your state. They offer simplicity if recognized locally.
Example
A homeowner executes a TOD deed naming an adult child to receive the property upon their death.