Transfer-on-Death Deed

TRANSFER-ON-DEATH DEED — MAINE

TABLE OF CONTENTS

1. Instructions and Overview
2. Transfer-on-Death Deed Form
3. Revocation of Transfer-on-Death Deed
4. Recording Requirements
5. Multiple Beneficiaries
6. Effect at Transferor's Death
7. Liens, Mortgages, and Encumbrances
8. State-Specific Notes
9. Sources and References

1. INSTRUCTIONS AND OVERVIEW

Checklist — Before Recording:

☐ Transferor has verified legal ownership of the property

☐ Legal description has been verified against the current deed of record

☐ All beneficiaries are identified by full legal name

☐ Deed has been reviewed by a licensed Maine attorney

☐ Deed has been acknowledged before a notary public

☐ Deed will be recorded in each county where the property is located

☐ Transferor understands the deed is revocable and has no effect until death

☐ Transferor understands existing liens and mortgages remain effective

2. TRANSFER-ON-DEATH DEED FORM

TRANSFER-ON-DEATH DEED

Pursuant to Maine Revised Statutes, Title 18-C, §§ 6-401 to 6-421

Return recorded document to:
[________________________________]
[________________________________]
[________________________________]

Property Address:
[________________________________]
[________________________________]

Tax Map / Lot Number: [________________________________]

NOTICE

THIS TRANSFER-ON-DEATH DEED DOES NOT TRANSFER OWNERSHIP OF THE PROPERTY UNTIL THE TRANSFEROR'S DEATH. THE TRANSFEROR RETAINS FULL POWER TO SELL, MORTGAGE, ENCUMBER, OR OTHERWISE DISPOSE OF THE PROPERTY DURING HIS OR HER LIFETIME. THIS DEED IS REVOCABLE.

TRANSFEROR INFORMATION

I, [________________________________] ("Transferor"), of [________________________________] (city/town), County of [________________________________], State of Maine, being the owner of the real property described below, hereby make this Transfer-on-Death Deed.

Date of Birth: [__/__/____]

BENEFICIARY DESIGNATION

I designate the following individual(s) to receive the described real property upon my death:

Primary Beneficiary(ies):

Alternate Beneficiary (if all primary beneficiaries predecease Transferor):

Name: [________________________________]
Date of Birth: [__/__/____]
Address: [________________________________]

PROPERTY DESCRIPTION

The real property subject to this Transfer-on-Death Deed is located in the County of [________________________________], State of Maine, and is more particularly described as follows:

[________________________________]
[________________________________]
[________________________________]
[________________________________]

Being the same premises conveyed to the Transferor by deed dated [__/__/____], and recorded in the [________________________________] County Registry of Deeds in Book [____], Page [____].

Tax Map [____], Lot [____], in the Town/City of [________________________________].

TRANSFER-ON-DEATH DESIGNATION

Pursuant to Maine Revised Statutes, Title 18-C, § 6-405, I hereby designate this deed as a Transfer-on-Death Deed. This deed shall transfer my interest in the above-described real property to the designated Beneficiary(ies) effective upon my death, subject to all conveyances, encumbrances, and liens of record at the time of my death.

I understand and acknowledge that:

1. This deed has no effect until my death (18-C, § 6-410).
2. I retain full ownership and control of the property during my lifetime.
3. I may revoke this deed at any time before my death (18-C, § 6-407).
4. The beneficiary receives no interest in the property until my death.
5. This deed does not require delivery to or acceptance by the beneficiary.
6. This deed is nontestamentary (18-C, § 6-402).
7. The property transfers subject to all existing encumbrances at my death (18-C, § 6-413).

TRANSFEROR'S SIGNATURE

Signature: ________________________________________

Printed Name: [________________________________]

Date: [__/__/____]

ACKNOWLEDGMENT

STATE OF MAINE
COUNTY OF [________________________________]

On this [____] day of [________________________________], [____], before me, the undersigned notary public, personally appeared [________________________________], known to me (or proved to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument, and acknowledged that he/she/they executed the same voluntarily for the purposes therein contained.

Witness my hand and official seal.

Notary Public: ________________________________________
Printed Name: [________________________________]
My Commission Expires: [__/__/____]

[NOTARIAL SEAL]

3. REVOCATION OF TRANSFER-ON-DEATH DEED

Under 18-C, § 6-407, a TOD deed may be revoked by any of the following methods:

Method 1: Instrument of Revocation

☐ Complete and acknowledge a revocation form
☐ Record the revocation in each county where the property is located

Method 2: Subsequent TOD Deed

☐ Execute a new TOD deed for the same property
☐ Record the new TOD deed (this revokes the prior TOD deed by inconsistency)

Method 3: Inter Vivos Transfer

☐ Transfer the property to another person during your lifetime by a recorded deed that expressly revokes the TOD deed

4. RECORDING REQUIREMENTS

5. MULTIPLE BENEFICIARIES

• Multiple beneficiaries hold as tenants in common unless the deed specifies otherwise (18-C, § 6-405)
• To create a joint tenancy with right of survivorship among beneficiaries, the deed must expressly state this
• If a beneficiary predeceases the transferor, that share lapses unless an alternate beneficiary is designated or antilapse provisions apply
• Survivorship requirement: Beneficiary must survive the transferor by 120 hours (18-C, § 6-413, referencing § 2-702)

6. EFFECT AT TRANSFEROR'S DEATH

Under 18-C, § 6-413:

• The property transfers to the designated beneficiary(ies) upon the transferor's death
• Transfer is subject to all liens, mortgages, and encumbrances existing at the time of death
• Transfer is subject to any interest the transferor's surviving spouse may have under applicable law
• The beneficiary takes subject to any claims against the transferor's estate if other assets are insufficient
• The property is NOT subject to the transferor's will (the TOD deed controls)

7. LIENS, MORTGAGES, AND ENCUMBRANCES

The TOD deed does NOT eliminate any existing obligations on the property:

☐ Outstanding mortgages remain in effect and must be satisfied

☐ Property tax liens continue to encumber the property

☐ Judgment liens against the transferor survive the transfer

☐ Mechanic's liens and other statutory liens remain effective

☐ HOA assessments and covenants continue to apply

8. STATE-SPECIFIC NOTES

Homestead Exemption

• Maine provides a homestead exemption of up to $80,000 ($160,000 if age 60+ or disabled) under 14 M.R.S. § 4422(1)
• The TOD deed does not affect the homestead exemption during the transferor's lifetime

Maine Estate Tax

• Maine imposes a state estate tax on estates exceeding $6.8 million (indexed; verify current threshold)
• TOD deed transfers are included in the taxable estate for Maine estate tax purposes
• Consult a tax professional regarding estate tax implications

Medicaid / MaineCare

• MaineCare estate recovery may apply to property transferred by TOD deed after the transferor's death
• A TOD deed does NOT protect property from Medicaid estate recovery
• The 60-month look-back period applies to certain transfers
• Consult an elder law attorney for Medicaid planning

Real Estate Transfer Tax

• Maine imposes a real estate transfer tax (36 M.R.S. § 4641-A)
• Transfers by TOD deed at death are exempt from the real estate transfer tax (36 M.R.S. § 4641-C)

Title Insurance

• Title companies may require additional documentation (death certificate, affidavit) before insuring title through a TOD deed transfer
• Consult with a title company before relying on a TOD deed for title transfer

9. SOURCES AND REFERENCES

• Maine Revised Statutes, Title 18-C, § 6-405 (TOD Deed Authorized): legislature.maine.gov
• Maine Revised Statutes, Title 18-C, § 6-417 (Optional Template): legislature.maine.gov
• Maine Revised Statutes, Title 18-C, § 6-413 (Effect at Death): legislature.maine.gov
• 36 M.R.S. § 4641-C (Transfer Tax Exemptions)
• 14 M.R.S. § 4422(1) (Homestead Exemption)

This template is provided for informational and educational purposes only. It does not constitute legal advice. Consult a licensed Maine attorney before executing any estate planning document.

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