Transfer on Death Deed - Arizona - Individual to Individual: This deed is used to transfer the ownership or title of a parcel of land, attaching any existing covenants, upon the death of the Grantor to the Grantee. It does not transfer any present ownership interest in the property and is revocable at any time. Therefore, it is commonly used to avoid probate upon death.
Arizona Transfer On Death Deed Form With Signature
Category:
State:
Arizona
Control #:
AZ-019-77
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Arizona Beneficiary Deed For Individual To Individual?
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FAQ
An Arizona Beneficiary Deed is much simpler than creating and administering a trust. In addition, the owner retains complete control over the property with an Arizona Beneficiary Deed. No gift tax liability. Since an Arizona Beneficiary Deed does not transfer property as a ?gift,? it is not subject to gift taxes.
In Arizona, establishing a TOD provision often involves filling out a form provided by the financial institution that holds your assets. For real estate, a Beneficiary Deed must be filled out and recorded with the county recorder's office.
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.
A transfer on death (TOD) bank account is a popular estate planning tool designed to avoid probate court by naming a beneficiary. However, it doesn't avoid taxes.