Escrow & Title
In New York, a 'transfer-on-death' deed (Beneficiary Deed) is:
AWidely used to pass real property at death without probate
BNot recognized under New York law✓ Correct
COnly valid for co-op transfers
DRequired for all estate planning involving real property
Explanation
New York does not recognize transfer-on-death (beneficiary) deeds for real property, unlike many other states. In New York, real property must pass through the estate (probate) or via a trust to avoid the probate process.
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