[WSBAPT] TOD Deed - Permissible contingencies?

[Heather deVrieze]

I think the short answer is NO, but perhaps some of the contingencies are built into the statute.

A close reading of 64.80.100 shows that
concurrent interests are transferred to the beneficiaries in equal and undivided shares with no right of survivorship.
AND
 If the transferor has identified two or more designated beneficiaries to receive concurrent interests in the property, the share of one which lapses or fails for any reason is transferred to the other, or to the others in proportion to the interest of each in the remaining part of the property held concurrently.

This limits the effective application of this law as no "by right of representation" provision is allowed, but often what a client wants.

Heather

Heather S. de Vrieze
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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 <wsbapt at lists.wsbarppt.com>
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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