This form is a Transfer on Death Deed where the Grantor Owner is an individual and the Grantee Beneficiaries are three 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.
Mesa Arizona Transfer on Death or TOD - Beneficiary Deed - Individual Grantor to Three Individuals
Category:
State:
Arizona
City:
Mesa
Control #:
AZ-045-77
Format:
Word;
Rich Text
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How to fill out Arizona Transfer On Death Or TOD - Beneficiary Deed - Individual Grantor To Three Individuals?
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FAQ
A beneficiary deed allows for the avoidance of probate. 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.
You may create life estates or any other form of ownership recognized in Arizona. Beneficiary deeds work well when the title will pass to a single individual or to a few individuals all of whom share a common vision of what to do with the property.
A Beneficiary Deed has to be signed by the property owner and notarized, recorded in the county where the property is located during the owner's lifetime, and must accurately state the property's legal description. While an Arizona Beneficiary Deed has many advantages, it is not for everyone.
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.
A beneficiary form states who will directly inherit the asset at your death. Under a TOD arrangement, you keep full control of the asset during your lifetime and pay taxes on any income the asset generates as you own it outright. TOD arrangements require minimal paperwork to establish.
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 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.
What is an Arizona Beneficiary Deed? An Arizona beneficiary deed form?also known as an Arizona transfer-on-death deed form or Arizona TOD deed form?is a type of deed authorized by statute to pass Arizona real estate to designated beneficiaries on the death of an owner.