The Minnesota legislature recently amended the TODD statutes to address issues regarding insurance coverage of real property subject to a TODD after the death of the grantor/owner. The amendment requires a TODD grantor/owner to perform certain actions to maintain insurance coverage for a period after their date of death for their beneficiaries. The amended statute went into effect on August 1, 2024.
Please click here to read the information sheet regarding your responsibilities under the new law. Please note: it is your responsibility as grantor owner to complete these action items. If you require our assistance, feel free to contact our office, and we will be happy to help you complete these items. If you do not contact us, we will not take any further action.