To be effective, a transfer on death deed must:
(1) except as otherwise provided in Subdivision (2), contain the essential elements and formalities of a recordable deed;
(2) state that the transfer of an interest in real property to the designated beneficiary is to occur at the transferor's death; and
(3) be recorded before the transferor's death in the deed records in the county clerk's office of the county where the real property is located.