Real estate is one of the biggest reasons families end up in probate — but two title tools exist specifically to route a specific property around it, and they work very differently.
Transfer-on-Death Deeds
A transfer-on-death (TOD) deed — sometimes called a beneficiary deed — lets you name a beneficiary who automatically receives the property at your death, while you retain full ownership and control while alive: you can sell it, mortgage it, or revoke the deed at any time with no consent needed from the named beneficiary. As of 2026, roughly 32 states plus Washington, D.C. allow TOD deeds, including California, Texas, Illinois, and Ohio (which uses a functionally equivalent “TOD designation affidavit”). Maryland’s own TOD Deed Act takes effect October 1, 2026. Whether you can use one depends on where the property sits, not where you live.
Joint Tenancy With Right of Survivorship
Joint tenancy automatically passes a co-owner’s share to the surviving owner(s) at death, no probate needed, no deed to file after the fact — but it requires giving up sole ownership immediately, not just at death. That means a co-owner has real, present rights: they can be forced to consent to a sale or refinance, their creditors can potentially reach their share, and adding a joint tenant is often treated as a taxable gift. This is the same present-vs-future ownership tradeoff covered in joint tenancy vs. tenancy in common vs. an LLC for co-owned investment property.
The Real Tradeoff Between Them
A TOD deed keeps you in full, sole control until death and only takes effect afterward — closer in spirit to a beneficiary designation on a retirement account than to a will. Joint tenancy creates real, immediate shared ownership. If the goal is purely “avoid probate on this one house without giving up any control today,” a TOD deed (where available) is usually the closer fit.
What It Doesn’t Solve
Neither tool replaces a will or the incapacity planning a full probate avoidance strategy requires for the rest of an estate — they only route one specific asset. And a TOD deed generally doesn’t protect against the property being pulled into a Medicaid estate-recovery claim the way certain trusts can.
Affiliate Disclosure: This page may contain affiliate links. If you make a purchase or sign up through these links, we may earn a commission at no extra cost to you.
Recent Comments