Arizona Affidavit as to Termination of Joint Tenancy with Right of Survivorship by Surviving Tenant (One Tenant is Deceased)
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How to fill out Affidavit As To Termination Of Joint Tenancy With Right Of Survivorship By Surviving Tenant (One Tenant Is Deceased)?
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FAQ
Community Property with Right of Survivorship is an estate planning tool that attempts to avoid probate issues by automatically transferring the deceased spouse's one-half interest in the property to the surviving spouse. This is similar to Joint Tenancy with Right of Survivorship.
A grant or devise to two or more persons may by express words vest the estate in the survivor on the death of a grantee or devisee when expressly declared in the grant, transfer or devise to be a joint tenancy with right of survivorship.
Joint-tenancy deeds (A.R.S. §33-431) are deeds whose language expresses that the grantees hold equal shares of the property as joint tenants, usually by providing a right of survivorship.
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.
One of the pitfalls of community property is something that is also one of its selling points ? all assets obtained during the marriage are owned 50/50. This can become a problem if one spouse dies and leaves their half of a property to someone other than their surviving spouse.
In the case of real property owned as joint tenants with right of survivorship, the right of survivorship is extinguished as provided in section 14-2804 or on the recordation in the office of the recorder of the county or counties where the real property is located an affidavit entitled "affidavit terminating right of ...
For example, say a mom and dad own a residence as Joint Tenants with Right of Survivorship in Arizona. When mom dies, mom's interest in the residence survives to dad, meaning dad now owns the entire residence and title to the property passes outside of probate.
