Quote:
Originally Posted by greglepore
NC does not recognize TOD deeds. There is some conflicting info out there, but bills have been introduced that have not passed. Other assets can be TOD'd.
Yes, a durable power of attorney would allow op to act on his parents behalf in transferring assets, including real estate. Caution that some brokerages won't recognize a dpoa that's not on that brokerage's form document.
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Yep! I did some looking after reading your comment and it appears they'll allow bank accounts and vehicles to TOD but not real estate. Seems weird. Seems like one of the the only ways to avoid probate at that point would be to use a Trust.
I had a firm refuse to recognize my DPOA for my mom because it wasn't their document. I told them I didn't care if it was their document because it was drafted according to Ohio law and if they don't honor it, they were welcome to explain to their client why the couldn't complete the purchase of the home. They changed their mind and accepted the DPOA.
Edit! This'll make your head spin if you dig into it! "North Carolina has allowed transfer-on-death (TOD) deeds since 2011."
From an attorney's site in Wilmington NC
https://donaldsonlawilm.com/how-to-avoid-probate-in-nc/