This form is a Transfer on Death Deed where the Grantor Owner is an individual and the Grantee Beneficiaries are two individuals. This transfer is revocable by Grantor until death and effective only upon the death of the Grantor. The Grantees take the property as tenants in common or joint tenants with the right of survivorship. This deed complies with all state statutory laws.
Az Death Deed Beneficiary With The Inheritance Payment
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State:
Arizona
Control #:
AZ-028-77
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Word;
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How to fill out Arizona Transfer On Death Deed Or TOD - Beneficiary Deed - Individual To Two Individuals?
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FAQ
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. You can make an Arizona beneficiary deed with WillMaker.
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.
You cannot use your will to revoke or override a beneficiary deed. How ownership is transferred. To get title to the property after your death, the beneficiary must record a certified copy of the death certificate in the recorder's office.
In the event that your mother recorded the beneficiary deed, the home likely became yours immediately upon her death, and it should not be subject to the terms of her will.
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.