Property Ownership

What is a 'transfer on death' (TOD) deed and is it available in Rhode Island?

AA deed that becomes effective only upon the owner's death, available in Rhode Island✓ Correct
BA deed transferred at the time of sale
CA deed used in foreclosure proceedings
DA deed required for estate sales

Explanation

A Transfer on Death (TOD) deed, sometimes called a beneficiary deed, automatically transfers property to a named beneficiary upon the owner's death without going through probate. Rhode Island has enacted legislation permitting TOD deeds.

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