transfer-on-death (TOD)

Definition from Nolo’s Plain-English Law Dictionary

Refers to the right to name a beneficiary in a document of title which allows the beneficiary to receive the property quickly, outside of probate. In most states, securities can be registered in TOD form. In some states, you can register vehicles in this way or create transfer-on-death deeds for real estate.

Definition provided by Nolo’s Plain-English Law Dictionary.