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9 Est. Plan. & Cmty. Prop. L.J. 59 (2016-2017)
Transfer on Death Deeds in Texas: High Time for the Todd

handle is hein.journals/epcplj9 and id is 65 raw text is: TRANSFER ON DEATH DEEDS IN TEXAS: HIGH TIME FOR THE TODD by Lucy Wood* 1. INTRODUCTION ................................................................................. 60 II. W HYTODD? ................................................................................... 61 A. Lack of Access to Probate .......................................................... 61 B. Big Families and Messy Intestate Succession ............................ 61 C. Natural and Legal Disaster ........................................................ 61 III. TODD BASICS ................................................................................. 62 A. Requirements ............................................................................ 62 B. Who Can TODD ? ...................................................................... 63 C. What Interest M ay Be TODDed? .............................................. 63 D. Who Owns the Property After a TODD Is Filed? ...................... 63 E. Is a TODD Revocable? .............................................................. 64 F. How Does Revocation Work with More Than One Transferor? ................................................................................ 64 G. Does the Beneficiary Have to Do Anything? ............................ 64 H. What About Liens and M ortgages? .......................................... 65 I. What About Other Claims? ........................................................ 65 IV. TODD BENEFITS ............................................................................... 66 A. TODD v. Will ............................................................................ 66 B. A Note About Trusts ................................................................... 68 C. TODD v. Joint Tenancy with Right of Survivorship .................. 69 D. The Lady Bird Deed ................................................................... 71 E. Taxes ......................................................................................... 73 1. Stepped-Up Basis ................................................................. 73 2. Estate Tax ............................................................................ 74 F. M edicaid Qualification and Recovery ....................................... 74 1. Qualification ........................................................................ 74 2. MERP ................................................................................ 75 G. Homestead Issues ..................................................................... 76 H Due on Sale and Transfer Restrictions ..................................... 77 V. TODD CONCERNS ........................................................................... 77 A. A Word About Litigation ............................................................ 77 B. User Error ................................................................................. 78 C. M ultiple Beneficiaries and Anti-Lapse ..................................... 78 D. Lack of Capacity and Undue Influence ...................................... 79 * Clinical Professor, University of Texas at Austin School of Law. J.D., Yale University School of Law; B.A., Yale University.

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