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Jesse executes a transfer on death deed for his Texas home and names his sons, Wyatt, Billy and Butch as beneficiaries. Upon Jesse's death, Wyatt, Billy and Butch will each hold a 1/3 interest in the property as tenants in common unless the deed made specific provision to allocate the ownership differently.
Jesse executes a TOD deed in California for a parcel of land containing three residential dwellings. Jesse designated his two beloved nieces as the beneficiaries of the deed. As the years went by, Jesse decided to build two new homes on the property for his nieces to call home. Some time later, Jesse passed away. At the time of his death, the property subject to the TOD deed contained five residential dwellings. Because a TOD deed in California cannot be used for parcels of land containing more than four residential units, the designation would fail and the property would become part of Jesse's probate estate.
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