The function of a Transfer on Death Deed is to place a beneficiary on real property. This placement effectively converts real property from being a probate asset (meaning it will pass through probate upon the owner's death) to a non-probate asset, and transferring outside of probate. Non-probate transfers are generally faster, and avoid the 0.2 percent fee assessed by the court. However, examination of Wisconsin Statues confirmed that this option does not apply if the property is owned by an LLC.
Wis. Stat., Section, 705.15 "An interest in real property that is solelyowned, owned by spouses as survivorship marital property, or owned by 2 or more persons as joint tenants may be transferred without probate to a designated TOD beneficiary..."
Most likely the motivation behind excluding an LLC is that the transfer is triggered by the death or the party or parties. When an LLC owns the property, there would never be a death...LLCs don't die.
As always, reading a lawyer's blog does not constitute receiving legal advice. Please seek advice from legal counsel before taking an action.