This form is a Warranty Deed where separate property or joint property is converted to a joint tenancy holding.
Phoenix Arizona Warranty Deed for Separate or Joint Property to Joint Tenancy
Category:
State:
Arizona
City:
Phoenix
Control #:
AZ-SDEED-4
Format:
Word;
Rich Text
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How to fill out Arizona Warranty Deed For Separate Or Joint Property To Joint Tenancy?
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FAQ
If you are refinancing a loan or taking title to property you want to share with your spouse, make sure the deed reads after your name: Community Property with Right of Survivorship.
A joint tenancy is a concurrent property interest that permits two or more individuals or legal entities to hold title to real, personal, and intellectual property. Fundamentally, it is a way for two or more persons to be seized in property as if they were one person. Graham v. Allen, 11 Ariz.
If you have a joint tenancy, you and the other tenants have exactly the same rights. You are all jointly and individually responsible for the terms and conditions of the tenancy agreement. This is called joint and several liability.
States with tenancy by the entirety are: Alaska, Arkansas, Delaware, Florida, Hawaii, Illinois, Indiana, Kentucky, Maryland, Massachusetts, Michigan, Mississippi, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, Tennessee, Vermont, Virginia, and Wyoming.
In Arizona, tenancy in common is the default classification for married couples seeking joint ownership. The property can be divided evenly, or the owners can control differing shares if needs be (e.g. two business partners own 25% each, and the third owns 50%).
Include a legal description of the property as it appears on the current deed. Sign the deed in the presence of a witness and notary public. Only you need to sign the deed. Your wife's signature isn't necessary, because she isn't giving up any ownership rights.
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.
Ways to Hold Title to Real Estate in Arizona COMMUNITY PROPERTY.COMMUNITY PROPERTY WITH RIGHT OF SURVIVORSHIP.JOINT TENANCY WITH RIGHT OF SURVIVORSHIP.TENANCY IN COMMON.TRUST (WITH A TRUSTEE)SOLE AND SEPARATE PROPERTY.CORPORATION.GENERAL PARTNERSHIP.
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. A.R.S. 33-431.
Joint tenancy is a form of property ownership normally associated with real estate. Two or more parties come together at the same time to make a legally-binding agreement with one another through a deed. These parties may be relatives, friends, or even business associates.