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Transfer On Death Designation Affidavit

In Ohio, owners of real estate have the ability to record a Transfer on Death Designation Affidavit (TOD Affidavit) with the county recorder’s office. If a TOD Affidavit is recorded, upon the death of the sole owner or death of the surviving joint owner, the real property will transfer outside of probate to the specific beneficiaries named in the TOD Affidavit. This is a great estate planning tool as it avoids specific real property (usually one of the larger assets in an estate) from having to go through probate—a process that could last 6 months to several years and cost several thousand dollars. Instead, real property subject to a TOD Affidavit will transfer upon a simple filing with the recorder’s office without the delay and costs of probate.

 

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