An Oregon transfer on death deed is a form whereby a beneficiary inherits a real estate title when the owner passes away. This deed is essentially ineffective until after the owner dies, at which point the named beneficiary obtains ownership immediately without probate. While living, the owner retains full title rights and may rent, sell, or otherwise transfer ownership without the beneficiary’s consent. The owner can revoke the form by executing a revocation document (available below) or another transfer on death deed.
In Oregon, there is an 18-month waiting period following the death of the owner wherein creditors and claimants can challenge the validity of the deed or file a claim against the property, creating a cloud on the title. This waiting period may be problematic for the beneficiary as it could restrict their ability to sell the real estate.
- Statutes: Title 10, Ch 93, §§ 93.948 to 93.985
- Formatting: § 205.232, § 205.234, § 93.260, § 93.959
- Signing Requirements (§ 93.410): Notary Public (or other authorized official)
- Where to Record (§ 205.130): County Clerk
- Recording Fees (§ 205.320(d)): $5 per page
- Property Disclosure Statement (§ 105.465(2)): After receiving a written purchase offer, the seller must deliver this statement to the buyer to disclose the property’s condition and provide other essential real estate information.