OSAI Form 246 Transfer-On-Death Deed - Oklahoma

What Is OSAI Form 246?

This is a legal form that was released by the Oklahoma State Auditor and Inspector - a government authority operating within Oklahoma. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is OSAI Form 246?A: OSAI Form 246 is the Transfer-On-Death Deed form used in Oklahoma.

Q: What is a Transfer-On-Death Deed?A: A Transfer-On-Death Deed is a legal document that allows the transfer of real property to a designated beneficiary upon the owner's death.

Q: Why would someone use a Transfer-On-Death Deed?A: A Transfer-On-Death Deed can be used to avoid probate and efficiently transfer real property to a specific beneficiary.

Q: Who can use OSAI Form 246?A: Any individual who owns real property in Oklahoma can use OSAI Form 246 to create a Transfer-On-Death Deed.

Q: What information is required on OSAI Form 246?A: OSAI Form 246 requires information about the property owner, the designated beneficiary, and a legal description of the property.

Q: Is OSAI Form 246 legally binding?A: Yes, OSAI Form 246 is a legally binding document when properly executed and recorded.

Q: How does a Transfer-On-Death Deed work?A: A Transfer-On-Death Deed allows the owner to retain full control and ownership of the property during their lifetime, with the designated beneficiary becoming the owner upon the owner's death.

Q: Can a Transfer-On-Death Deed be revoked?A: Yes, a Transfer-On-Death Deed can be revoked by the property owner at any time before their death, as long as the revocation is properly executed and recorded.

Q: Do I need an attorney to use OSAI Form 246?A: While it is not required to have an attorney, it is recommended to seek legal advice to ensure the proper execution and recording of the Transfer-On-Death Deed.