Handling transfer on death deeds involves recognizing their purpose in estate planning and ensuring they are appropriately managed without impacting tax records or ownership information.
Q: What is a Transfer on Death deed?
A: Transfer on Death deeds are legal documents used in estate planning to transfer real property to designated beneficiaries upon the owner's death.
Q: How does CRS Data handle Transfer on Death Deeds?
A: When a Transfer on Death Deed is received, it is ignored and not put into CRS. This decision is made to ensure that tax records are displayed with the most relevant and current ownership information. Since Transfer on Death Deeds are used solely for estate planning purposes and do not impact current ownership or tax liabilities, there is no need to display them in the sales history.