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Arizona allows individuals to transfer property to a beneficiary through what is known as a beneficiary deed. A beneficiary deed is sometimes referred to as a ?transfer on death deed,? or TOD deed. It is a legal document that grants a residential property to a designated beneficiary upon the death of an individual.
Real Estate and TOD in Arizona This deed allows a property owner to designate a beneficiary who will automatically inherit the property upon the owner's death, avoiding probate.
You must sign the deed and get your signature notarized, and then record (file) the deed with the recorder's office before your death. Otherwise, it won't be valid.
The joint owner(s) or the owner's spouse will need to submit a copy of the owner's death certificate county recorder's office. If there are more than two living owners, you may need to submit an affidavit to attest that you own the property.
An Arizona beneficiary deed for works the same way as a TOD designation on a bank account. The owner simply designates someone to inherit the property when the owner dies. During the owner's life, the owner retains complete control over the property and can revoke the beneficiary designation.