Property Ownership
Under Oregon's Transfer on Death (TOD) Deed law, an Oregon property owner can:
ATransfer property to a beneficiary at death without going through probate✓ Correct
BOnly transfer property to a spouse at death
CTransfer property during their lifetime without a deed
DAvoid all property taxes until their death
Explanation
Oregon's Transfer on Death deed law allows property owners to designate a beneficiary who will receive the property automatically at the owner's death, bypassing probate. The TOD deed is revocable during the owner's lifetime and does not take effect until death.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Joint TenancyCo-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
EasementA non-possessory right to use another person's land for a specific purpose.
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