A transfer on death deed must:
(1) Except as otherwise provided in subdivision (2), contain the essential elements and formalities of a properly recordable inter vivos deed as required by the standards of title;
(2) State that the transfer to the designated beneficiary is to occur at the transferor's death; and
(3) Be recorded before the transferor's death in the public records in the office of the register of deeds in the county where the property is located.