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TESTAMENTARY TRANSFER OF PROPERTY ACT: AN UPDATE ON OKLAHOMA IS USE OF THE TRANSFERONDEATH DEED (2011) BY: KETTLE Q. PERSON, LLC ME HOME & PERSON, PULP 50 PENN PLACE 1900 N.W. EXPRESSWAY, SUITE 1400
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Nontestamentary transfer of property is the transfer of assets outside of a will or probate process, such as through a trust, joint tenancy, or beneficiary designation.
The individual or entity receiving the transferred property is required to report nontestamentary transfers of property.
To fill out nontestamentary transfer of property, the recipient must provide detailed information about the transfer, including the source and value of the property.
The purpose of nontestamentary transfer of property is to ensure that all transfers of assets are properly documented and reported for tax and legal purposes.
The information that must be reported on nontestamentary transfer of property includes the name of the transferor, the description of the property, the value of the property, and the date of the transfer.
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