Quit Claim to Community Property w/rights of survivorship: This form is used by a Grantor of a parcel of land, when he/she gives and/or sells his/her interest in said property to Grantees, with the right of survivorship. The disclaimer further states that the Grantor will no longer claim any rights in the property sold to the Grantees. It is available for download in both Word and Rich Text formats.
Phoenix Arizona Quitclaim to Community Property with rights of survivorship
Category:
State:
Arizona
City:
Phoenix
Control #:
AZ-REAL-8
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Arizona Quitclaim To Community Property With Rights Of Survivorship?
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FAQ
An Arizona quit claim deed is used to transfer property from one person (grantor) to another (grantee) without any warranty as to whether the title is clear. In other words, the person transferring the property is not making any warranties against other claims to the property from others.
A quitclaim deed is one of the common options to transfer ownership of a property in Arizona. Quitclaim deeds can be used in a variety of situations to legally transfer property to a trust, co-owner, or different ownership structure.
An interspousal transfer deed, more technically called an interspousal transfer grant deed, is a legal document used to give sole ownership of shared property, such as a house, to one person in a marriage. They are commonly employed in divorce cases to transfer community property to one spouse.
In Arizona, there are different ways to title property, including: A Joint Tenancy with Right of Survivorship involves two or more owners who each have an equal and undivided interest. If one owner dies, the surviving partners take the deceased owner's share in the property.
What is a joint tenancy? This is where 2 or more joint owners hold the whole of the property together and in equal shares. On the death of any one or more of the owners, those shares pass automatically to surviving joint tenants by something called the right of survivorship.
The quitclaim deed would transfer title from the community or joint property to separate property. A quitclaim deed is legally binding. The transferring spouse eliminates his rights to the property after signing it.
Arizona law recognizes four types of legal title to real property when it is owned by two or more persons: Tenants in Common, Joint Tenancy with Right of Survivorship, Community Property, and Community Property with Right of Survivorship.
You will need to have the quitclaim deed notarized with the signatures of you and your spouse. Once this is done, the quitclaim deed replaces your former deed and the property officially is in both of your names. You must record the deed at your county office.
In a Joint Tenancy with Right of Survivorship, if one of the owners dies, his or her share will pass equally to each of the other Joint Tenants, regardless of who would otherwise inherit the deceased owner's estate.
