Another Deed Option in California for Estate Planning, at least until January 1, 2021

Another Deed Option in California for Estate Planning, at least until January 1, 2021

January 28, 2016
By Jill Eshman

California approved transfer on death deeds that transfer certain types real property on the death of its owner without a probate proceeding.  It is intended as a simple and inexpensive mechanism that can be utilized by married or unmarried couples to transfer a home.  There are specific requirements to an effective transfer on death deed that must be met, including that it must be recorded within 60 days or less from the time it signed.  The deed is revocable and is called a “Simple Revocable Transfer on Death Deed.”  The new law expires January 1, 2021 to allow time for the California legislature to study its effects; unless the Legislature acts otherwise, the bill will sunset on January 1, 2021 but this would not invalidate any revocable transfer on death deeds executed before this date.  California Probate Code Division 5, Part 4.