Arizona Estate Deed With Survivorship
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FAQ
In Arizona, property law is governed by ARS Title 33. Joint tenancy with right of survivorship is covered in ARS 33-431. When real property is owned by multiple people, property law refers to it as a concurrent estate. The co-owners, or co-tenants, are commonly categorized as either joint tenants or tenants in common.
If Husband and Wife hold property as Community Property with Right of Survivorship and one dies, then the survivor automatically receives the other's interest, regardless of who else may inherit the deceased's estate.
In Arizona, joint accounts come with survivorship rights by default, meaning the surviving account holder(s) automatically inherit the deceased account holder's share unless specified otherwise.
A right of survivorship deed allows married people to share a property title (co-ownership) where both have equal shares. When the first spouse passes away, the surviving spouse will own the property alone. By having a survivorship deed in place, probate can be avoided. Arizona is a community property state.
Disadvantages of joint tenants with right of survivorship JTWROS accounts involving real estate may require all owners to consent to selling the property. Frozen bank accounts. In some cases, the probate court can freeze bank accounts until the estate is settled.