[WSBAPT] TOD Deed - Permissible contingencies?

[Marcus Fry]

Sure and your malpractice carrier will let you know if it doesn't work.  I kid, kid, but really with the adoption of new statutes, it creates a whole new gray area.  In my view, once one transfer occurs (say on the death of the 1st grantor), it would terminate all subsequent transfers that the deed attempted to make, but then again maybe not.  However, it is called a transfer on death deed, not transfer on deaths deed.  If they really want to cover all these scenarios to avoid disinheriting certain kids or grandkids, then I recommend a revocable living trust that the property be placed into.

Marcus J. Fry
Lyon, Weigand & Gustafson, P.S.


From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Brink, Kerry
Sent: Thursday, June 30, 2016 10:40 AM
To: WSBA Probate & Trust Listserv
Subject: [WSBAPT] TOD Deed - Permissible contingencies?

So - can a grantor do a TOD deed that includes contingencies in effect on the date of his death? Something like this:


THE GRANTORS, AAB and AAA, husband and wife, each in consideration of love and affection, and pursuant to the Washington Uniform Real Property Transfer on Death Act, conveys and quit claims to the other upon the death of one of them and then to take effect only upon both of the Grantors' deaths to BBA and BBB, Grantees, each as to an undivided one-half interest, as beneficiaries, the following described real estate:

XXX

If either BBA or BBB do not survive both of the Grantors, then the Grantors convey and quit claim the entire property to the survivor of them, to take effect only upon both of the Grantors' deaths.  In the event both BBA and BBB fail to survive both of the Grantors, then the Grantors convey and quit claim the entire property, together with all after-acquired title of the Grantors therein, in equal shares to those of the Grantors' children,  CCA, CCB and CCC who survive both of the Grantors, to take effect only upon both of the Grantors' deaths.

It seems like it may be OK - as the transferees would be identifiable at the death of the second grantor.  What do you all think?


Best regards,

Kerry
Kerry E. Brink * Attorney

Estate Planning, Probate, Elder Law
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