A: The stated purpose of the TOD Deed, according to the author of the bill, is to allow seniors, low-income/fixed-income individuals, and individuals whose estates consist primarily of their home to avoid costly and/or complicated probates or trust administrations. Essentially, a TOD Deed, when properly executed, notarized and recorded is supposed to be a simple and inexpensive way to transfer most types of residential real estate (as opposed to creating a living trust, for example).
Q: Why did the legislature create the TOD Deed in California?
