Virginia Beneficiary Deed or Transfer on Death Deed

[sharon077]

What is the name of your state (only U.S. law)? Virginia

I have not been able to locate a Virginia Beneficiary Deed form or a Transfer-on-Death Deed form. Maybe it doesn't exist for Virginia. I want to transfer my house to a family member when I die without having to go through probate and I understand a beneficiary deed or a transfer on death deed are ways of doing that. I have not been able to find out if that is possible in Virginia. The deed right now is only in my name. Rather than go to a lawyer, I would like to do this myself. How can I accomplish this?

 

[anteater]

I am not in VA, but I remember reading that a Transfer on Death Real Property Act was introduced in 2009. I don't know what the disposition was and a quick search of the VA code does not show anything.

A quick call to a real estate attorney should confirm whether a TOD is possible now in VA.

 

[FlyingRon]

Yes, there is TOD in VA. See Va Code 64.1-206. Note that it is very important if there are multiple current owners of the property, that they hold it in something other than common tenancy (entirety, joint with right of survivorship, community property) in order for the TOD to be meaningful.

The "form" is just a deed granting from whoever owns it now to the same person with "transfer on death" and the beneficiary.

GENERAL WARRANTY DEED: This deed made the 23rd day of September 2006 between grantor Sharon SeventySeven to grantee Sharon SeventySeven transfer on death Brother SeventySeven....

You need to properly identify the property, yada yada. Your best bet would be to go to a title office or a lawyer and they will prepare the document for your signature, notarize it, and file it for you.

 

[anteater]

Ron - Are you certain that 64.1-206 covers a TOD deed? 64.1.206 seems to be oriented completely to securities.

My curiosity got to me. Senate Bill No. 1042 - the Transfer on Death Real Property Act - introduced in January 2009, was going to add a chapter and sections to 64.1. What I see indicates that the bill died in committee.

http://www.richmondsunlight.com/bill/2009/sb1042/

 

[sharon077]

I did find the Richmond Sunlight Tracking the Virginia General Assembly site. It looks as though Virginia law does not allow Transfer on Death or Beneficiary Deeds.

How can the deed be altered from "general warranty" to "joint tenancy with right of survivorship"? Or, does a new deed have to be written? If so, what would the language be? Would this be correct?

THIS DEED, made this ___ day of _____, in the year 2010, between
Sharon 077, (whose address is___________)
party of the first part, (“GRANTOR”)
and
Sharon 077 and Jane Smith (WHOSE ADDRRESS IS ___________)
party of the second part, (“GRANTEE”),
WITNESSETH: That for and in consideration of the sum of Ten and 00/100 Dollars (10.00), cash in hand paid, and other good and valuable consideration, the receipt of which is hereby acknowledged, the said party of the first part does grant and convey, with JOINT TENANCY WITH RIGHT OF SURVIVORSHIP and ENGLISH COVENANTS OF TITLE unto the said party of the second part, the following described property, to-wit:

Thank you for your help.