Legal Question in Wills and Trusts in Virginia

Are Transfer-On-Death Deeds available in Virginia????

Are Transfer-On-Death Deeds available in Virginia? If so, would you owe any gift taxes upon this transfer? If it's not available in Virgina, how would you go about simply adding two additional owners to a deed? What is that called and where would you get that necessary paperwork to fil out to take to the clerks office? Does it have to be notorized?

Thank you.


Asked on 11/05/06, 6:47 am

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: Are Transfer-On-Death Deeds available in Virginia????

The executor/administrator of the decedent's estate normally handles these types of transfers through the completion and recording of an executor's deed which transfers title to the property to the named or entitled beneficiary(devisee).

I do not believe that gift taxes are applicable to this type of transaction.

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Answered on 11/07/06, 7:58 am


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