We've been discussing the benefits of using a Minnesota Transfer on Death Deed to transfer your home to another person at your death. You own property in your name alone and want to be sure that it goes to the beneficiary of your choice without the expense and delay of probate. So, you decide to use a Transfer on Death Deed (“TODD”) to achieve this purpose.
Can you cancel a Minnesota Transfer on Death Deed?
Yes. The Deed does not do anything to your rights over the property during your lifetime. It only takes affect upon your death. Therefore, nothing is set in stone until after death. You may, at any time, change the beneficiary or cancel the deed altogether.