Transfer on death deeds are relatively new estate planning tool in Minnesota. As in the case of a bank account where an owner can designate a person to be a payable-on-death beneficiary of the account, a transfer on death deed allows a person to designate another person to own the real estate upon his/her death. A transfer on death deed can avoid probate. A transfer on death deed is different from a life estate in that the after-death beneficiary does not own an interest in the property until the death of the owner.
Gilbert Law Office
Duluth Attorney
