In Ohio, a Transfer on Death (TOD) designation affidavit allows:
Correct Answer
B) Property to pass to beneficiaries without probate upon owner's death
Ohio's TOD designation affidavit allows property to pass directly to named beneficiaries upon the owner's death, avoiding probate.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
A freehold estate represents ownership of real property with an indefinite duration.
Joint tenancy is a form of co-ownership in which two or more persons hold equal, undivided interests in property with the right of survivorship. When one joint tenant dies, their interest automatically passes to the surviving joint tenants.
A leasehold estate grants the right to possess and use property for a defined period of time, without conferring ownership.
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