standard recording requirements regarding legibility, recordability, notarization, and original signature (507.24) comply with other Minnesota deed requirements including joinder of spouse in conveying homestead (507.02, subd. explicitly state that it takes effect at the death of the named grantor owner(s) name one or more grantee beneficiaries (subds. convey or assign an interest in real property (subd. Transfer on death deeds allow flexibility - in addition to individuals, the grantor owner may "transfer an interest in real property to the trustee of an inter vivos trust even if the trust is revocable, to the trustee of a testamentary trust or to any other entity legally qualified to hold title to real property under the laws of this state" (subd. In addition, a "transfer on death deed that is executed, acknowledged, and recorded in accordance with this section is not revoked by the provisions of a will" (subd. As a result, the beneficiary has no guarantee of any present or future interest in the property. He/she may rent, use, sell or reconvey the land at will, and with no obligation to the beneficiary (Minn. The owner retains absolute title to and control over the real property until death. 524.2-702, named beneficiaries must outlive the grantor owners by at least 120 hours to become eligible for the property. Unlike most other real estate deeds, transfer on death deeds do not convey any rights or interests to the beneficiaries until the grantor owner's death. Transfer on death deeds do NOT pass a current or future interest in the property, so the owner's interests are fully protected while he/she remains alive. By executing and recording a transfer on death deed instead, owners still avoid the need for probate distribution of that portion of their assets. Joint tenants, however, share a current interest in the real property, and all owners must execute any changes or reconveyances. The nature of joint tenancy includes the right of survivorship, which, by function of law, automatically distributes a deceased joint tenant's title rights to the surviving tenants. Some people avoid probate by owning property as joint tenants. In most cases, when a land owner dies, his/her real property enters the probate system along with the rest of the estate. Transfer on death deeds are useful estate planning tools for owners of Minnesota real estate.
Minnesota's transfer on death deeds are governed by Minn. Minnesota Transfer on Death Deed Information
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