Legal Question in Real Estate Law in Florida

Re: Transfer On Death

No, there is no POD or TOD that can be added to a deed. However, you can grant yourself a life estate, with remainder to someone else. That may not be the best idea however. Depending on the value of your property, and your tax basis, your relatives could be a lot better off inheriting the property from you after death. They should get a stepped up basis at that point, whereas if you gift them an interest now, they get your tax basis. If you recently purchased the property this may not be a big deal, but if you have owned it for 10 years or longer adding them to the deed now could be very expensive in the long run.

You really should consult an estate planning attorney such as myself on this before making any decisions. There are other issues at stake also.

Best of luck to you.