Definitions for "Transfer on death"
See payable on death.
A form of registration that allows shareholders to name on their certificate the party they would like to receive the shares at the time of their death. Unlike shares registered with a tenancy clause, a form of registration that allows shareholders to name on their certificate the party they would like to receive the shares at the time of their death. Unlike shares registered with a tenancy clause, a party named as beneficiary of TOD shares has no interest in nor are they an owner of the shares until the original owner dies.
A TOD is a beneficiary on a nonretirement account. In the event of death of the account owner, the account's proceeds are divided equally between the named TOD beneficiaries.