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Transfer on Death Deed

A transfer on death deed

Designate IU as your beneficiary to make your future affairs hassle-free. The transfer on death deed is another flexible option to leave your home or other property to IU and allow the home to bypass probate. Sometimes referred to as a “Lady Bird deed,” this type of real estate transfer is available in most, but not all, states.

What a gift of real estate can help you accomplish

Consider your time

  • Alleviate the burden of upkeep or selling a property yourself.
  • Simplify your estate and the management of your current home.

Consider your finances

  • Become eligible for a federal income tax deduction equal to the full fair market value of the property.
  • Potentially eliminate capital gains tax on your property’s appreciation.

Consider your IU legacy

  • Make an immediate, significant gift to IU.

“Eight students have been awarded the Harry family scholarship we established in our parents’ honor, and we look forward to many years of supporting students in the future. To ensure we can achieve this, we have made a planned gift of real estate. Using a transfer on death deed of Janet’s home worked well because it is revocable in case Janet decides to move or needs the home for unforeseen long-term care expenses, yet simplifies her estate and keeps the home out of any probate process. Most importantly, it satisfies our intention of honoring our family’s legacy at Indiana University.”
–Janet Harry-Taylor, BS’81, and Jill Rahman, MBA’91

Janet Harry-Taylor, BS’81, and Jill Rahman, MBA’91 established a scholarship in memory of their parents, Wilma Harry, BA’56, MA’60, and Charles Harry IV, BA’56, MS Ed.’57.

How it works

Make a gift to IU through a transfer on death deed

  • Let your IU development officer know that you’re considering a gift of real estate. Our team can guide you through some considerations and help you choose the best option for your situation and goals.
  • When you’re ready to take the next steps with a transfer on death deed, the Foundation’s Real Estate and Property team can help with the documentation to make sure your desires for your estate will be carried out after your lifetime.
  • You will work with your legal advisor to write a transfer on death deed specific to the state in which you own property. Your legal advisor will construct the deed, notarize your signature, and file the deed with the county recorder’s office.
  • After your lifetime, the IU Foundation will take full responsibility of your home outside the probate process, which can save significant time and expense for those caring for your estate — and alleviate the burden of arduous tasks related to managing your property.
  • The IU Foundation will ready the property to be sold for its maximum value.
  • The net proceeds will be used to fund the IU cause you’ve designated.