The 2015 Texas Legislature added Section 114 to the Estate Code which authorizes Transfer on Death Deeds in the state. A TOD Deed is a when the intended beneficiary of the property upon the owner’s death may be noted on the deed itself and filed with the county clerk to allow the property to pass without using intestacy or a will. This is advantageous since it allows the estate to avoid probate especially since many people who will use a TOD deed only have one major asset to pass, usually a home, and do not need the expense of a probate courts. This is a brand new concept in Texas so, going forward, the estate law community will be watching how this effort will play out for those it is intended to help.
See, Transfer on Death Deeds Now Valid in Texas, National Law Review, September 18, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
