I have been left a home Transfer On Death this is outdside probate and outside the will, my question can i transfer the homne into my name and list it immediatly for sale if the household furnishing contained in the home are listed in the will to be divided between myself and 1 other sibling? If not because of the furnishings can i empty the home and place the furnishings in safe storeage? if yes on empting, should this be done before the personal representitive is appointed?Oregon senate bill 815 TOD deeds allow the immediate transfer or real estate to a named individaul or company outside of probate no will no probate, the only clause is that the proerty must be held open to any creditor attachment as set forth in the probate proceeding of the entire estate, now as i understand the terminoligy of the bill as written if i get a peice of real estate that is TOD to me on death no probate, and if the will of the same individual, is probated and has listed the contects of that home that i just inherited TOD, as to be divided between certain individuals, can i sell the home (assuming some one would buy it with the 18 month clause, expensive title insurance) relocate the furnishings? there is no dispute between the hiers about the TOD and little of the contents are of any value to any of the other hiers.
Changing this question to probate, as it seems more a probate and real estate question than a "business" question.
That said, if you think that you and your sibling aren't going to be able to agree about handling the sale of this property and the goods inside, you will probably need to speak with a probate attorney.
You also might want to talk with a title company or real estate attorney regarding whether you can get insurable title to sell from the TOD deed.
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I recommend you consult with a local probate attorney. TOD Deeds are relatively new in Oregon but I do not think you can sell the property within 18 months of the death. If you and your sibling are in agreement about the disposition of the tangible personal property inside the house then I wouldn't worry about it unless it is willed to someone else.
DISCLAIMER: The information contained in this answer is based on Oregon law and is subject to change. It should be used for general purposes only and should not be construed as specific legal advice by Fitzwater Meyer Hollis & Marmion, LLP, or its attorneys. Neither this answer nor use of its information creates an attorney-client relationship. If you have specific legal questions, consult with your own attorney or call us for an appointment.
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