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What is needed for a beneficiary deed in Missouri?

A Missouri beneficiary deed must include a legal description of the real property. This written statement is referenced during the title search and offers very specific information regarding the propertys location and boundaries. Legal descriptions can be found on property tax statements or the current deed.

How much does a beneficiary deed cost in Missouri?

The fee charged by a local County Recorder of Deeds office to record a Beneficiary Deed averages between $24 and $30. The Grantor should contact the local County Recorder of Deeds office to inquire as to the current fee charged. Upon recording the deed the Recorder of Deeds office will mail the original to the Grantor.

What is the statute for beneficiary deeds in Missouri?

A beneficiary deed is a type of real estate deed that is used in estate planning to ensure that your home or land avoids probate. Missouri statute section 461.025 authorizes the use of beneficiary deeds in the state of Missouri.

Where do I get a beneficiary deed in Missouri?

A beneficiary deed in Missouri must be recorded with the recorder of deeds in the county where the property is located before the property owners death ( 461.025). Specific recording instruments and fees vary by county.

Does a beneficiary deed override a will in Missouri?

If you have made a will or previous beneficiary deed that leaves the property to someone, your new beneficiary deed will override it. Your rights. You keep complete ownership of, and control over, the real estate while youre alive.

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Does a beneficiary deed avoid probate in Missouri?

Beneficiary Deeds. This transfer upon death will take place without the real estate having to go through probate and without having to jointly title such property with children, spouses, or other intended beneficiaries while the owner is still alive.

What are the requirements for a beneficiary deed in Missouri?

A Beneficiary Deed must be signed by the Grantor in the presence of a Notary Public and then properly recorded with the local County Recorder of Deeds office (where the real property is located). A Beneficiary Deed must be recorded to become effective under Missouri law. The Grantee does not sign such deed.

How does a beneficiary deed work in Missouri?

An owner that makes a Missouri beneficiary deed keeps complete control over the property during life. He or she can sell or mortgage the property without notifying the beneficiaries. The owner can also freely change or revoke the beneficiary designation. Local tax and legal benefits.

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