The personal representative transfers real estate by signing a personal representative's deed and filing Wisconsin transfer return. Use a Wisconsin attorney. TOD is not required and may not be advisable. It is a choice for the beneficiary to make in consultation with their own attorney.
There are other considerations if the beneficiary is also the personal representative and is purchasing the property. The transfer will also be reported to the Register in Probate or Probate court on the Final Account. There may be income tax consequences in some situations.
Disclaimer: Please note that this answer does not constitute legal advice, and should not be relied on since each state has different laws, each situation is fact specific, and it is impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue. This answer does not create an attorney-client relationship. You are strongly advised to contact an attorney to obtain legal advice before taking or refraining from taking any action with respect to the above.
Real estate is transfered by way of a Deed. When an estate is involved, the deed is usually referred to as a fiduciary deed or a personal representative deed. You may also need to file forms with the city and or county taxing authorities for property tax purposes.
If you have an attorney assisting you with the estate, it is best to have him or her prepare the deed.
James Frederick
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LEGAL DISCLAIMER
Mr. Frederick is licensed to practice law in the State of Michigan and has offices in Wayne and Ingham Counties. My practice is focused in the areas of estate planning and probate administration.
I am ethically required to state that the above answer does not create an attorney/client relationship. These responses should be considered general legal education and are intended to provide general information about the question asked. Frequently, the question does not include important facts that, if known, could significantly change the answer.
Information provided on this site should not be used as a substitute for competent legal advice from a licensed attorney that practices in the subject area in your state. The law changes frequently and varies from state to state.