Our California TOD deed form reflects the current version of the law. 16ĭeedClaim updates our deed forms to stay current with statutory amendments. The updated definition of beneficiary makes explicit that natural persons, trusts, and legal entities may all be TOD beneficiaries. 15 The revised statute expressly excludes interests in stock cooperatives and agricultural parcels exceeding 40 acres. Transferrable real estate includes most condominium interests and residential properties with four or fewer dwelling units. Revisions to the definitions of real property and beneficiary clarify what kind of real estate a California TOD deed can transfer and to whom it may be transferred. Updated Definitions for Real Property and Beneficiary.New code sections allow a California court to modify a TOD deed to prevent the deed’s failure due to ambiguity or because a charitable beneficiary declines or is unable to accept the property. Statutory amendments adjust the procedure and standards for determining a TOD beneficiary’s proportionate liability-if any-for debts owed by the owner’s estate. TOD Beneficiary Obligation for Estate Debts.A lien not recorded in time does not survive the transfer, and an untimely recorded deed does not effectively convey the property. 12 The owner’s date of death was the recording-date deadline under the prior version of the law. ![]() Other instruments affecting the real estate-such as liens or deeds-are only operative if recorded no later than 120 days after the beneficiary records the affidavit verifying notice to heirs.
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