transfer-on-death (TOD)

Definition of "transfer-on-death (TOD)"
  1. A designation permitting the naming of a beneficiary in a title document, allowing for the expedient transfer of property like securities, vehicles, or real estate circumventing probate
How to use "transfer-on-death (TOD)" in a sentence
  1. The car was swiftly passed down to her daughter through transfer-on-death (TOD) registration.
  2. Their financial advisor suggested transfer-on-death (TOD) registration for their securities to avoid probate.
  3. The couple managed to bypass probate by utilizing a transfer-on-death (TOD) deed for their real estate.
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