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In Wyoming, the Transfer-on-Death Deed form offers a straightforward way for property owners to ensure their real estate is passed on to their chosen beneficiaries without the need for probate. This legal tool allows individuals to retain full control of their property during their lifetime while designating who will inherit it after their death. By completing and recording this deed, property owners can avoid the lengthy and often costly probate process, making the transfer of ownership seamless and efficient. The form must be properly filled out, signed, and notarized to be valid, and it is important to understand that the transfer only takes effect upon the death of the owner. Beneficiaries can be individuals or entities, and multiple beneficiaries can be named. However, careful consideration should be given to how the property is titled, as this can affect the transfer process. Understanding these key aspects can help property owners make informed decisions about their estate planning and ensure their wishes are honored after they pass away.
Preview - Wyoming Transfer-on-Death Deed Form
Wyoming Transfer-on-Death (TOD) Deed Template
This Transfer-on-Death Deed template is created in accordance with the Wyoming Uniform Real Property Transfer on Death Act. It allows property owners in Wyoming to pass their real estate to a beneficiary upon the owner’s death without the need for probate court proceedings.
Instructions:
Fill in the blanks with the appropriate information. Ensure all details are accurate and reflective of your intentions. Consult a legal advisor to ensure compliance with Wyoming law and the proper execution of this legal document.
Transfer-on-Death Deed
This document is executed this ____ day of ________, 20__, by ________________________________ (hereinafter referred to as the “Grantor”), whose address is ________________________________________________________.
1. Property Information:
The real property to be transferred upon the Grantor’s death is legally described as follows:
________________________________________________________
________________________________________________________
(hereinafter referred to as the “Property”). The Property is located in the County of ____________________, State of Wyoming.
2. Beneficiary Information:
Upon the Grantor’s death, the aforementioned Property shall transfer to the following beneficiary(ies):
- Name: ________________________________; Address: ________________________________________________________.
- Name: ________________________________; Address: ________________________________________________________.
(Add more beneficiaries if needed, ensuring all have a clear share or interest specified if the property is to be divided.)
3. Transfer on Death:
Upon the Grantor’s death, ownership of the aforementioned Property shall transfer to the designated beneficiary(ies), subject to any liens or encumbrances on the Property at the time of the Grantor’s death.
4. Revocation:
The Grantor may revoke this Transfer-on-Death Deed at any time prior to the Grantor’s death through a recorded document in the county where the property is located.
5. Signature:
This Transfer-on-Death Deed is effective only upon the Grantor’s signature and acknowledgment in front of a notary public.
IN WITNESS WHEREOF, the Grantor has executed this Transfer-on-Death Deed this ____ day of ________, 20__.
Grantor’s Signature: ________________________________
Printed Name: ________________________________
State of Wyoming
County of ________________________
Subscribed and acknowledged before me this ____ day of ________, 20__, by ________________________________, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that they executed the same for the purposes therein contained.
In witness hereof, I hereunto set my hand and official seal.
Notary Public Signature: ________________________________
Printed Name: ________________________________
Notary Seal:
File Attributes
| Fact Name | Detail |
|---|---|
| Definition | A Transfer-on-Death Deed allows property owners to transfer real estate to beneficiaries upon their death without going through probate. |
| Governing Law | The Transfer-on-Death Deed is governed by Wyoming Statutes, specifically Wyo. Stat. § 34-11-101 through § 34-11-109. |
| Eligibility | Any individual who owns real property in Wyoming can create a Transfer-on-Death Deed. |
| Revocation | The deed can be revoked at any time by the property owner, provided they follow the proper legal procedures. |
| Recording Requirement | To be effective, the Transfer-on-Death Deed must be recorded with the county clerk's office in the county where the property is located. |
| Beneficiary Designation | Property owners can designate one or more beneficiaries, and they can also specify alternate beneficiaries. |
| Impact on Taxes | The transfer of property via a Transfer-on-Death Deed does not trigger gift taxes during the owner's lifetime. |
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