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.
Pima Arizona Beneficiary Deed for Individual to Individual
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To establish a beneficiary deed in Arizona, the deed must: Grant the real estate property to a beneficiary designated by the owner of said property. Be recorded in the office of the county where the property is located. Be recorded in the county office before the property owner's death.
Arizona inheritance laws specify that a decedent's property passes to their spouse and/or descendants. Qualifying descendants could include: Children, including adopted children or ones conceived before marriage. Grandchildren and great-grandchildren.
Arizona allows for the transfer of real estate by affidavit if the equity of all the real property in the estate is not greater than $100,000. The use of a beneficiary deed to transfer real property will avoid the need for a probate proceeding in cases where the equity in the property is in excess of $100,000.
Requirements for Arizona Beneficiary Deeds Be recorded in the office of the county where the property is located. Be recorded in the county office before the property owner's death. Specify that the deed is effective when the property owner dies.
An estate attorney may prepare a Beneficiary Deed for approximately $250 to $750. There will also be a nominal recording fee in the county where the property is located. Thomas J. Bouman provides legal counsel in the areas of estate planning, estate settlement, and asset protection.
How to Transfer Arizona Real Estate Locate the Prior Deed to the Property.Get a New Deed to the Property.Sign and Notarize the New Deed.Record the New Deed in the Land Records.
In Maricopa County, Arizona, you can do this at either the main office in Phoenix, at 111 S. Third Avenue, or in Mesa at 222 E. Javelina Avenue. The recorder will need your original deed or a legible copy with original signatures.
Arizona is one a handful of states?including Colorado and Missouri?that use the term beneficiary deed to refer to a deed that designates a beneficiary to inherit property at death.
To establish a beneficiary deed in Arizona, the deed must: Grant the real estate property to a beneficiary designated by the owner of said property. Be recorded in the office of the county where the property is located. Be recorded in the county office before the property owner's death.