A New Deed in California for 2016
On September 9th, 2015, the California Legislature passed bill AB 139 and Gov. Jerry Brown has signed this new legislation which has created a new form of deed for the transfer of real property in California effective 1 January 2016. The new deed is call a “Revocable Transfer on Death” deed (which we will call a revocable TOD deed), and this deed allows an owner of real property to deed it to a named beneficiary without the risk of a lengthy and costly probate proceeding or the requirement for formal estate planning documents.