Question 1

Is the transfer on death deed available in Florida?

Accepted Answer

Yes: FL enacted the TOD deed statute effective July 1, 2024 (Section 732.4015). Before 2024: FL did not recognize TOD deeds for real property (although TOD designations were available for securities and financial accounts). The statute: allows FL property owners to name a beneficiary on a deed, the deed must be properly executed and recorded, the transfer occurs at the owner’s death without probate, and the deed is revocable during the owner’s lifetime.

Question 2

What are the requirements for a Florida TOD deed?

Accepted Answer

Requirements: the deed must state that the transfer is effective at the owner’s death, the deed must name a specific beneficiary (individual or entity), the deed must be executed with the same formalities as a regular deed (signed by the owner, witnessed by two witnesses, and notarized), the deed must be recorded in the official records of the county where the property is located during the owner’s lifetime, and the deed must not violate the FL homestead restrictions (the surviving spouse and minor children’s homestead rights must be respected). The owner: retains full ownership, can revoke, and can sell or encumber the property.

Question 3

How does a Florida TOD deed interact with homestead?

Accepted Answer

Homestead interaction: FL Constitution (Article X, Section 4): homestead property cannot be devised if the owner is survived by a spouse or minor child (unless the spouse waives their rights). The TOD deed: is subject to this restriction. If the owner is survived by a spouse: the TOD deed may be ineffective unless the spouse has waived their homestead rights (in writing, with full disclosure). Minor children: the TOD deed cannot defeat the minor children’s homestead rights. Best practice: married homeowners should consult an attorney before using a TOD deed to ensure compliance with homestead restrictions.

Transfer on Death Deed: in Florida

Florida Transfer on Death Deeds

Requirements

Owner Rights

Homestead

Related Terms

Barnes Walker Estate Planning

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