MLchartDataset catalogue

TOD

Term · Law · MLC-T-LAW-004932

An abbreviation for 'Transfer on Death,' a legal designation that allows an asset, such as a bank account or security, to pass directly to a named beneficiary upon the owner's death without going through probate. This mechanism provides a simple way to transfer certain assets outside of a will. It is also known as a 'Payable on Death' (POD) designation for bank accounts.

Table 1. Record
IdentifierMLC-T-LAW-004932
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-004932",
  "term": "TOD",
  "field": "Law",
  "definition": "An abbreviation for 'Transfer on Death,' a legal designation that allows an asset, such as a bank account or security, to pass directly to a named beneficiary upon the owner's death without going through probate. This mechanism provides a simple way to transfer certain assets outside of a will. It is also known as a 'Payable on Death' (POD) designation for bank accounts.",
  "url": "https://mlchart.com/terminology/law/tod/"
}

Record 5,037 of 5,441 in Law terminology (MLC-0107). Request the full dataset.