NJ A1819

Allows individuals 18 years or older and of sound mind to transfer real property to designated beneficiaries effective upon the transferor's death through a transfer on death (TOD) deed, avoiding the probate process.

TOD deeds must be recorded with the County Clerk before the transferor's death, contain essential elements of a standard deed, and be properly acknowledged, but require no notice to or acceptance by the beneficiary.

The deed is revocable at any time during the transferor's life through a subsequent TOD deed, an instrument of revocation, or an inter vivos deed that expressly revokes the original.

During the transferor's lifetime, the deed does not affect property rights, creditor claims, or public assistance eligibility, and creates no legal interest for the designated beneficiary until death occurs.

If the transferor's probate estate is insufficient to cover allowed claims or statutory allowances to a surviving spouse or child, the estate may enforce liability against the transferred property within 18 months of death.