This form is a Transfer on Death Deed where the Grantor is an individual and the Grantee \ Beneficiary is a Nonprofit Corporation. This transfer is revocable by Grantor until death and effective only upon the death of the Grantor. The deed must be recorded prior to Grantor's death. This deed complies with all state statutory laws.
Phoenix Arizona Beneficiary or Transfer on Death Deed from an Individual Owner to a Nonprofit Corporation as Beneficiary
Category:
State:
Arizona
City:
Phoenix
Control #:
AZ-067-77
Format:
Word;
Rich Text
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How to fill out Arizona Beneficiary Or Transfer On Death Deed From An Individual Owner To A Nonprofit Corporation As Beneficiary?
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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.
The second important point is that a beneficiary deed supersedes a will, so if the documents contradict one another, the beneficiary deed takes precedence.
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.
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.
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.
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.
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.