Mom or Dad Signed a Transfer on Death Deed, How Does This Work?

First Question:  If all the persons signing the Transfer on Deed are now deceased keep reading.  If not Click Here

You have only 9 months after the last signor died to file an acceptance affidavit.  If you don’t complete the affidavit and file it within that time, then the normal probate rules apply.  Luckily, the form is fairly easy to complete and you will need just three things:

Do I pay taxes to make the transfer?

  Oklahoma does not have an Estate or Inheritance Tax. Federal Estate taxes for someone who died in 2018 don’t apply unless the total estate was more than $11 Million.  This does not trigger income tax if you are inheriting from a family member.  There are not filing taxes just a small filing fee.  Real estate does have an annual property tax.

What if there is a lien or mortgage, will I become liable for that?

  An existing lien or mortgage will continue on the property but you will not become personally responsible for it.  If you sell the property, the lien holder will get paid from the proceeds.  You can also pay off the lien.

Things you need to claim property under a Transfer on Death Deed:

1. A copy of the Transfer on Death Deed.  You do not have to have the original because you only need it to obtain the following information:

   1. The date it was signed;

   2. The date it was filed with the county clerk;

   3. The Book and Page number that the county clerk assigned to it; and

   4. The legal description of the property.

2.  certified copy of the Death Certificate.  State of Oklahoma Death Certificate request.

3. An Affidavit of Grantee Beneficiary 

4. A check to County Clerk for Filing.  (usually $22-$24)

After the Affidavit of Grantee Beneficiary is completed, it must be filed in the county where the property is located with a certified copy of the death certificate.

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