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Transfer-on-Death Deeds for Real Estate Arkansas allows you to leave real estate with transfer-on-death deeds. These deeds are also called beneficiary deeds. You sign and record the deed now, but it doesnt take effect until your death.
In Arkansas, these forms of joint ownership are available: Joint tenancy. Property owned in joint tenancy automatically passes to the surviving owners when one owner dies. No probate is necessary.
This deed must be signed, docHubd, and recorded in the county where the property is located. Some counties have more than one recording office, so you need to be sure this deed is being recorded in the correct recording office. Must list the name and address of the person who prepared this deed.
An Arkansas quitclaim deed is a form that is used to transfer property from a seller to a purchaser without any warranty on the title. This type of deed only transfers the interest that the seller owns which may be no interest at all or clear title to the property.
An Arkansas quitclaim deed is one of three deed forms Arkansas recognizes for transferring real estate during the owners life. The distinguishing feature of quitclaim deeds is that they transfer the current owners interest with no warranty or covenants of title.
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What does a quitclaim deed do? A quitclaim deed transfers the title of a property from one person to another, with little to no buyer protection. The grantor, the person giving away the property, gives their current deed to the grantee, the person receiving the property.
On the owners death, the property passes to the beneficiaries outside of the Arkansas probate process. Beneficiary deedsknown in other states as transfer-on-death deeds or TOD deedsare defined and allowed by law and have been recognized in Arkansas since 2005.
Arkansas has a survivorship period. In order to inherit under Arkansass intestate succession statutes, the heir in question must survive you by at least five days.
The Real Property Transfer Tax is levied on each deed, instrument, or writing by which any lands, tenements, or other realty sold shall be granted, assigned, transferred, or otherwise conveyed. The tax rate is $3.30 per $1,000 of actual consideration on transactions that exceed $100.
An Arkansas quitclaim deed is a form that is used to transfer property from a seller to a purchaser without any warranty on the title. This type of deed only transfers the interest that the seller owns which may be no interest at all or clear title to the property.

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