Planned Giving
DID YOU KNOW?

TOD and a Mobile Home

My wife recently purchased a car. For personal reasons, the title is in her name only — not with me as a joint owner with right of survivorship. (However, she does allow me to drive it whenever I need transportation!)

She has also attached a TOD (Transfer-on-Death) statement to the title. It provides a way for the car to become mine in the event she dies first. It is the same security we would have if we were joint owners. The TOD statements can be attached to personal property, securities, and real estate. It works the same way as the POD (Payable-on-Death) statement one would attach to a bank account so that it would not have to go through probate.

I knew a couple that was surprised when they wanted to place a TOD statement on their mobile home. They had placed their daughter as a transfer-on-death beneficiary for their car. The statute allowing a transfer-on-death statement covers every motorized vehicle except a wheelchair and bicycle. But a mobile home is not self-propelled, so it cannot be passed to heirs in this way.

However, if a mobile home is attached to property that you own, a transfer-on-death
beneficiary can be placed on the real estate. It would cover everything that is permanently attached to the land. The deed must be recorded prior to the deaths of the owners.

Answers to this and other questions are provided during Planned Giving Seminars.
The seminars are offered free-of-charge to Central Region churches by the Kansas Baptist Convention Foundation. An attorney usually accompanies the Foundation representative for a seminar presentation.

For further information, or an individual consultation,
contact: Dr. Marshall Schirer, ABCCR/Planned Giving
1637 May Ave. #1502, Wichita, KS 67213, 316/264-0420

The services of the Foundation are offered without cost or obligation.