Some states have something called a transfer on death deed, In Colorado, a beneficiary deed is probably the equivalent of a Colorado transfer on death deed.
In addition to any method allowed by law to effect a transfer at death, title to an interest in Colorado real property may be transferred on the death of the owner by recording, prior to the owner’s death, a beneficiary deed signed by the owner of such interest, as grantor, designating a grantee-beneficiary of the interest.
The transfer by a beneficiary deed shall be effective only upon the death of the owner. A beneficiary deed need not be supported by consideration.
Definition of Colorado Beneficiary Deed
In Colorado, “Beneficiary deed” means a deed, subject to revocation by the owner, which conveys an interest in real property and which contains language that the conveyance is to be effective upon the death of the owner. “Deed” means any instrument of conveyance of real property. “Owner” means the grantor of a beneficiary deed.
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