OTC Form 771 Transfer on Death (Tod) Notice Application - Oklahoma

What Is OTC Form 771?

This is a legal form that was released by the Oklahoma Tax Commission - a government authority operating within Oklahoma. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is OTC Form 771?
A: OTC Form 771 is the Transfer on Death (Tod) Notice Application used in Oklahoma.

Q: What is a Transfer on Death (Tod) Notice?
A: A Transfer on Death (Tod) Notice is a document that allows the transfer of certain assets to named beneficiaries upon the owner's death.

Q: What information do I need to provide on OTC Form 771?
A: You need to provide detailed information about the asset(s) you want to transfer on death, the beneficiary(s) you want to name, and other relevant details.

Q: Is there a fee for filing OTC Form 771?
A: Yes, there is a filing fee associated with submitting OTC Form 771. The fee amount can vary, so it's best to check with the Oklahoma Tax Commission for the current fee.

Q: Can I revoke a Transfer on Death (Tod) Notice?
A: Yes, you can revoke a Transfer on Death (Tod) Notice by submitting a written revocation form to the Oklahoma Tax Commission.

Q: What happens to the assets mentioned in the Transfer on Death (Tod) Notice after the owner's death?
A: The assets mentioned in the Transfer on Death (Tod) Notice will be transferred directly to the named beneficiaries without going through the probate process.