Wisconsin Transfer on Death Deed

Introduction

Key Things to Know

1. 1

   In Wisconsin a transfer on death deed is a transfer on death (TOD) beneficiary designation on a recorded document that names a beneficiary to receive your real property automatically at your death, without probate (Wis. Stat. 705.15).

2. 2

   During your life the designation does not affect ownership. You keep full control and can sell, mortgage, or change it, and the beneficiary has no interest in the property until you die (Wis. Stat. 705.15(3)).

3. 3

   The document must name the owner or owners, name the TOD beneficiary, and state that the transfer is effective only on the death of the owner or owners; if the interest is marital property, both spouses must sign (Wis. Stat. 705.15(2)(a)).

4. 4

   You make the designation with the words transfer on death or pay on death, or TOD or POD, after your name and before the beneficiary name, and you may name primary and contingent beneficiaries (Wis. Stat. 705.15(2)(b)).

5. 5

   There is no fixed number of days to record, but the designation is not effective unless the document and recording fees are submitted to the register of deeds office of the county where the property is located before your death (Wis. Stat. 705.15(2)(c)). Because it is effective only when recorded, the document must meet Wisconsin requirements for recording a document affecting title to real estate.

6. 6

   You revoke the designation by recording a later document that designates a beneficiary or an instrument of revocation that expressly or by inconsistency revokes the recorded designation (Wis. Stat. 705.15(3)).

7. 7

   The beneficiary takes the property subject to any mortgages, liens, and claims that exist at your death, so the designation does not by itself clear debts secured by the property.

Wisconsin Requirements for Transfer on Death Deed

• Include the Required Contents

  The recorded document must name the owner or owners, name the TOD beneficiary, and state that the transfer is effective only on the death of the owner or owners (Wis. Stat. 705.15(2)(a)). Missing any of these means the designation is not valid.

• Legal Description and Parcel Number

  The full legal description of the property from the current recorded deed, plus the street address and the tax parcel number. A street address alone is not enough to record the document with the register of deeds.

• Use the TOD Designation Wording

  Make the designation with the words transfer on death or pay on death, or the abbreviation TOD or POD, after the owner name and before the beneficiary name (Wis. Stat. 705.15(2)(b)). You may name one or more primary and one or more contingent TOD beneficiaries.

• Both Spouses Sign for Marital Property

  If the interest that will transfer is real property owned by a spouse as marital property, the document must be signed by both spouses who have an interest in the marital property (Wis. Stat. 705.15(2)(a)).

• Meet the Recording Requirements

  Because the designation is effective only when recorded, the document must meet Wisconsin requirements for recording a document that affects title to real estate. Section 705.15 does not require witnesses.

• Record With the Register of Deeds Before Death

  The designation is not effective unless the document and any recording fees are submitted to the register of deeds office of the county where the property is located before the death of the owner or the last to die of the owners (Wis. Stat. 705.15(2)(c)). There is no fixed number of days, so record promptly.

• Revoke Only by Recorded Instrument

  The designation is revoked only by recording a later document that designates a beneficiary, or an instrument of revocation, that expressly or by inconsistency revokes the recorded designation (Wis. Stat. 705.15(3)).

• Property Passes Subject to Existing Liens

  The TOD beneficiary takes the property subject to any mortgages, liens, and claims that exist at the owner death. The designation passes only the property it describes and does not clear debts secured by the property.