Alaska Transfer on Death Deed

Introduction

Key Things to Know

1. 1

   In Alaska a transfer on death deed is a deed you record while alive that names a beneficiary to receive your real property automatically at your death, without probate. It is authorized by the Alaska Uniform Real Property Transfer on Death Act (AS 13.48.010-.190).

2. 2

   During your life the deed has no effect on your ownership. You keep full control and can sell, mortgage, or revoke it, and the beneficiary has no interest in the property until you die.

3. 3

   To be valid the deed must be acknowledged before a notary or other officer authorized to take acknowledgments. Alaska does not require any witnesses.

4. 4

   The deed must be recorded before your death, or it will not be effective. You record it in each recording district where any part of the property is located, through the Department of Natural Resources recorder, not a county office.

5. 5

   There is no fixed deadline to record after signing, but recording must happen while you are alive, so recording promptly is the safe course.

6. 6

   You can revoke the deed three ways: record a Revocation of Transfer on Death Deed (form P-151), record a new transfer on death deed (form P-150) for the same property, or transfer the property during life by a recorded deed that expressly revokes it. A will cannot revoke it.

7. 7

   The Alaska Court System publishes official forms P-150 for the deed and P-151 for the revocation. The court form notes the deed may affect the beneficiary eligibility for public assistance and may affect creditors rights.

Alaska Requirements for Transfer on Death Deed

• Use the Alaska Court System Form P-150

  Alaska authorizes a transfer on death deed under the Alaska Uniform Real Property Transfer on Death Act (AS 13.48.010-.190), and the Alaska Court System publishes an official form P-150 the deed may follow, with form P-151 for revocation.

• Legal Description of the Property

  The full legal description of the property from the current recorded deed, plus the street address and the recording district. A street address alone is not enough to record the deed.

• Name the Beneficiary and an Alternate

  The full legal name of the beneficiary who will receive the property at the owner death, and an alternate beneficiary if the first does not survive. Naming a backup keeps the property out of probate if the first beneficiary dies first.

• Notarize the Signature

  The owner must sign the deed and have the signature acknowledged before a notary or other officer authorized to take acknowledgments. Without a valid acknowledgment the deed cannot be recorded.

• No Witnesses Required

  Alaska does not require witnesses for a transfer on death deed. Acknowledgment before a notary is the execution formality, unlike some states that require two witnesses.

• Record in the Recording District Before Death

  The deed must be recorded before the owner death, or it will not be effective, and it must be recorded in each recording district where any part of the property is located. Alaska records by recording district through the Department of Natural Resources, not by county.

• Revoke by One of Three Recorded Methods

  Before death the owner may revoke by recording a Revocation of Transfer on Death Deed (form P-151), by recording a new transfer on death deed (form P-150) for the same property, or by transferring the property during life by a recorded deed that expressly revokes it. A will cannot revoke it.

• Know the Public Assistance and Creditor Warnings

  The Alaska Court System form warns that using a transfer on death deed may affect the beneficiary eligibility for public assistance and may affect creditors rights. The beneficiary takes the property subject to existing mortgages, liens, and claims.