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What is beneficiary deed in Missouri?

A Beneficiary Deed is a special kind of deed that can be filed with the local County Recorder of Deeds. The Beneficiary Deed transfers an owners interest in real estate to named beneficiaries upon the owners death without need for the probate process.

What is the purpose of a beneficiary deed?

A beneficiary deed is more commonly known as a transfer on death deed. Beneficiary deeds become effective immediately upon the death of the grantor- or, in the case of joint tenancies, the death of the last surviving grantor- and are often used to avoid the time and expense involved in probate.

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.

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.

Can a beneficiary deed be contested in Missouri?

As with almost any kind of inheritance, a transfer-on-death deed can be challenged in probate court.

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.

Does Missouri recognize beneficiary deeds?

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.

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