Texas homeowners have the option to transfer real estate outside the lengthy and costly probate process by utilizing a transfer-on-death deed. The forms to both establish and revoke the transfer-on-death deeds are in the Texas statutes. Therefore, any revisions to the forms require legislative action.
SB 874 takes the forms out of the estates code and makes them available from the Supreme Court. This change will allow any necessary form updates to be made in an easier and more timely manner than the current process, while keeping the forms easily accessible to consumers.
The bill was passed by the Senate on April 11 and passed the House on May 14. It now goes to the governor’s desk.
Contact Jeff Huffman, Texas Credit Union Association, at 469-385-6488 or email@example.com for more information.