Alaska Statutes Sec. 13.48.120 - Optional Form of Transfer on Death Deed

The following form may be used to create a transfer on death deed. The provisions of this chapter govern the effect of this or any other instrument used to create a transfer on death deed.

(front of form)

REVOCABLE TRANSFER ON DEATH DEED

NOTICE TO OWNER

You should carefully read all information on the other side of this

form. Transferring real property by using a transfer on death deed may

have important legal consequences in addition to designating who will

receive the real property on the transferor's death. These consequences

may include, but are not limited to, (1) affecting the beneficiary's

eligibility for public assistance; and (2) affecting creditors' rights.

If you have any questions, you should consult an attorney.

This form must be recorded before your death, or it will not be

effective.

IDENTIFYING INFORMATION

Owner or Owners Making This Deed:

Printed name Mailing address

Marital status

Printed name Mailing address

Marital status

Legal description of the property:

PRIMARY BENEFICIARYENEFICIARIES

(Please list one or more primary beneficiaries. You may want to

obtain legal advice before listing more than one primary beneficiary.

There is more than one way to transfer property to several persons.)

I designate the following beneficiary if the beneficiary survives

me:

Printed name Mailing address, if available

Marital status

ALTERNATE BENEFICIARYENEFICIARIES - Optional

(You may list one or more alternate beneficiaries. You may want to

obtain legal advice before listing more than one alternate beneficiary.

There is more than one way to transfer property to several persons.)

If my primary beneficiary does not survive me, I designate the

following alternate beneficiary if that beneficiary survives me:

Printed name Mailing address, if available

Marital status

TRANSFER ON DEATH

At my death, I transfer my interest in the described property to the

beneficiaries as designated above.

Before my death, I have the right to revoke this deed.

AUTHORITY OF DESIGNATED AGENT TO REVOKE THIS DEED

I authorize the following designated agent to revoke this deed

before my death:

Printed name Mailing address

SIGNATURE OF OWNER OR OWNERS MAKING THIS DEED

Signature Date

Signature Date

ACKNOWLEDGMENT

State of Judicial District (or County of or Municipality of )

The foregoing instrument was acknowledged before me this (date) by

(name of person who acknowledged).

Signature of Person Taking

Acknowledgment

Title or Rank

Serial Number, if any

(back of form)

COMMON QUESTIONS ABOUT THE USE OF THIS FORM

What does the Transfer on Death (TOD) deed do? When you die, this

deed transfers the described property, subject to any liens or

mortgages (or other encumbrances) on the property at your death.

Probate is not required. The TOD deed has no effect until you die. You

can revoke it at any time. You are also free to transfer the property

to someone else during your lifetime. If you do not own any interest

in the property when you die, this deed will have no effect.

How do I make a TOD deed? Complete this form. Have it acknowledged

before a notary public or other individual authorized by law to take

acknowledgments. Record the form in each recording district where any

part of the property is located. The form has no effect unless it is

acknowledged and recorded before your death.

Is the 'legal description' of the property necessary? Yes.

How do I find the 'legal description' of the property? This

information may be on the deed you received when you became an owner of

the property. This information may also be available in the office of

the recorder in the recording district where the property is located.

If you are not absolutely sure, consult a lawyer.

Can I change my mind before I record the TOD deed? Yes. If you have

not yet recorded the deed and want to change your mind, simply tear up

or otherwise destroy the deed.

How do I 'record' the TOD deed? Take the completed and acknowledged

form to the office of the recorder in the recording district where the

property is located. Follow the instructions given by the recorder to

make the form part of the official property records. If the property is

in more than one recording district, you should record the deed in each

recording district.

Can I later revoke the TOD deed if I change my mind? Yes. You can

revoke the TOD deed. Except for a court, no one, including the

beneficiaries, can prevent you from revoking the deed.

How do I revoke the TOD deed after it is recorded? There are three

ways to revoke a recorded TOD deed: (1) Complete and acknowledge a

revocation form, and record it in each recording district where the

property is located. (2) Complete and acknowledge a new TOD deed that

disposes of the same property, and record it in each recording district

where the property is located. (3) Transfer the property to someone

else during your lifetime by a recorded deed that expressly revokes

the TOD deed. You may not revoke the TOD deed by will.

I am being pressured to complete this form. What should I do? Do

not complete this form under pressure. Seek help from a trusted family

member, friend, or lawyer.

Do I need to tell the beneficiaries about the TOD deed? No, but it

is recommended. Secrecy can cause later complications and might make it

easier for others to commit fraud.

I have other questions about this form. What should I do? This form

is designed to fit some but not all situations. If you have other

questions, you are encouraged to consult a lawyer.

Section: Previous  13.48.050  13.48.060  13.48.070  13.48.080  13.48.090  13.48.100  13.48.110  13.48.120  13.48.130  13.48.140  13.48.150  13.48.160  13.48.190  13.48.195    Next

Last modified: November 15, 2016