how to transfer property title in arizona

To address the above issue, the Arizona legislature adopted A.R.S. These deeds filed at the Recorder’s Office in the county where the property is located Generic eneficiary Deed available from Greenlee ounty Recorder’s Office • Quit claim deeds conveys a grantor's complete interest or claim in certain real property … Evidence of that ownership is shown in the deed. Only buyer(s) must be present at MVD to transfer title, however ideally buyer and seller go to MVD to transfer title to help expedite any last-minute issues that arise at the MVD. A definition of a “legal entity” may be a corporation, partnership, an association or trust, just to name a few. Disclaimer: This page is not intended for mobile home investors. If you own real estate in Arizona and want to make sure it passes to your heirs without the hassle of probate court, you can use a transfer-on-death (TOD) deed. How to Complete a Vehicle Title Transfer in Arizona. The owner of real estate may record a deed in the county in which the property is located in order to transfer title to another upon the owner’s death. Example: After the LLC acquired title it discovers that the property is encumbered by a $25,000 lien. An electronic title transfer is available, or the buyer may contact an MVD Office or Authorized Third Party provider and provide a signed off title and title application to complete the process. When you buy a vehicle, Arizona law requires that you apply for a title within 15 days of purchase. A deed allows the current owners (grantors) to transfer property to new owners (grantees). In Arizona, Title 33 of the Arizona Revised Statutes (2012) contains most of the important details. Please see form AZ-ET10 for distribution of the personal property in a small estate. Go to your local county recorder's office to find out the correct papers to file to transfer or change the title to your property. Both halves of the community property are entitled to a "stepped up" tax. Obtain an affidavit of property value. How to Transfer Real Estate After Death. Joint or community property is covered in ARS 33-431. The Arizona Motor Vehicle Division (MVD) will transfer a vehicle title into your name, even if the original owner did not transfer or sign over the title before his death. Estate planning just got a little easier for you. Frances holds a Bachelor of Arts in social studies education from the University of Wyoming and a Juris Doctor from Baylor University Law School. The owner of real estate may record a deed in the county in which the property is located in order to transfer title to another upon the owner’s death. A general warranty deed is used to transfer an interest in real estate in Arizona in most real estate transactions. Title refers to your ownership of the property. 1. The process of doing so is regulated by state law and depends on the type of asset and how it was owned at the time of death. A deed can transfer property title without a sale or exchange of money, such as with a gift or as part of a divorce agreement. Our ARIZONA QUITCLAIM DEED may be used legally to transfer Arizona real property rights to another person or legal entity. A quitclaim deed may also be used to add, delete or change a name on the title. Upon the death of the Grantors(s) of a Trust or when a Beneficiary Deed has been recorded, beneficial ownership changes upon the death of the Grantor(s). Registering land or property in England - first time registration, transfer of ownership, changing your details on the register, where to register in Scotland or Northern Ireland Contact your lender if you're still making payments on the property you want to transfer to your LLC and get their permission. Vehicle owners can complete the title transfers for cars through a local office of the state’s Motor Vehicle Division (MVD) or through an authorized third party provider.. Co-buyers can take title as joint tenants with right of survivorship or tenants in common. Please see the steps and tips below when considering purchasing or reselling a mobile home in the state of Arizona. Conditions for Conveyance. Pay a $4 title transfer fee PLUS registration fees and taxes. To transfer the land to the LLC the owner(s) must sign a deed and the deed must be recorded with the county recorder of the county in which the real estate is located. Title may be held as "Sole and Separate." The deed must have at least a one-half inch margin on all sides, and the first page of the deed must have a top margin of at least two inches. Once the deed is signed, it is recorded in the land records of the county where the property is located. When multiple people own real estate or property, ownership of the property is typically shared as either joint tenancy or as tenants in common. If so, you’ll complete an Arizona title transfer. Because quitclaim deeds provide less protection, they are usually used to transfer property between family members or between close friends. Arizona requires buyers and sellers of real property to submit this with all real estate recordings if necessary. The title transfer process is easy in the state of Arizona. In other words, if it turns out that you owned your property subject to a lien, the new owner cannot sue you to make you pay the lien. Utilizing a secure online system, customers can complete the process without visiting an MVD office. A home is not legally conveyed unless the deed meets certain requirements. A quitclaim deed does not provide any warranty or guarantee of title. A title transfer penalty may be assessed if a title application is submitted beyond 15 days of purchase. It must be on paper no wider than 8 1/2 inches and no longer than 14 inches, and the print size cannot be smaller than 10-point type. Sign the instrument before a notary and file it at the county recorder's office along with other appropriate paperwork required by your state. A. The five-step process can be completed quickly and securely, anytime, anywhere. You must record the deed, evidencing your land transfer, by delivering a copy or original to the county recorder's office for the county in which the property is located. If you own real estate in Arizona and want to make sure it passes to your heirs without the hassle of probate court, you can use a transfer-on-death (TOD) deed. However, if you owned your home before the marriage, it's considered separate property. Tip. Warnings: 1. However, the seller does not promise that it actually owns the title to the property. In this initial phase, there are limitations on the vehicles eligible for transfer. Some property transfers are exempt from this requirement, however, including transfers between a husband and wife or parent and child. Continue reading below for complete instructions on auto title transfers. To transfer the land to the LLC the owner(s) must sign a deed and the deed must be recorded with the county recorder of the county in which the real estate is located. A quitclaim deed doesn't guarantee a clear property title, so it's generally reserved for property transfers between relatives and close friends. The Arizona deed forms are used to convey real property from one person (grantor) to another (grantee). Warnings: 1. 3. Assets owned in joint tenancy. The process of doing so is regulated by state law and depends on the type of asset and how it was owned at the time of death. In the state of Arizona the process to transfer a mobile home title from one owner to the next is fairly simple and straightforward. When a trust is taking title to real property in Arizona, the identity of the beneficiaries must be included, although this does not necessarily need to be done in the signature block (Ariz. Rev. Under Arizona Revised Statutes §11-1134, an Affidavit of Property Value is required for all title transfers and recorded contract of sales unless certain conditions are met. Some deeds have a form of warranty on the title whereby a seller (grantor) provides a guarantee as to the soundness of the title. Completing the Arizona car title transfer procedure is a mandatory step when the vehicle changes ownership from one legal entity to another. Whether a Preservation and Improvement Fee and Transfer Fee are charged depends upon how title is held by the parents. Title may … 2005 Arizona Revised Statutes - Revised Statutes §28-2060 Transfer of ownership by operation of law . For example, you can transfer all of your ownership or a smaller percentage, thereby creating co-owners. 1. A title transfer is required in Arizona to prove vehicle ownership. Bring forms to your local MVD in the county to pay transfer tax and transfer ownership. If you transfer a piece of property that has a title, such as a car, you'll need to sign the title over to the LLC and execute a new title in the name of the LLC. You can transfer real estate by completing a deed. A deed allows the current owners (grantors) to transfer property to new owners (grantees). The first requirement for nearly any real estate deed is that it must be in writing. This … Copyright © Arizona Department of Transportation – All rights reserved. Arizona is a community property state, so all assets and debts acquired during the marriage are considered marital property. An electronic title transfer is available, or the buyer may contact an MVD Office or Authorized Third Party provider and provide a signed off title and title application to complete the process. There are different deed forms depending on the type of transfer required. Arizona real estate is transferred using a legal document called a deed. As a seller, it safeguards you from being sued by your family member, spouse or future buyer later if it turns out there’s an issue with the deed or you didn’t have full ownership of the house. The following are deeds that are used for transfer of real property in Arizona: • eneficiary deeds (A.R.S. Once you decide what type of transfer is most appropriate for your situation, you must draft the deed itself or have an attorney or document provider draft it for you. The transfer is required if you sold, donated, or gifted your car, too. Description Arizona Transfer Title This form may be used to distribute the real estate of a decedent when the value of all the real estate owned by the decedent in Arizona doesn't exceed $100,000. You will complete the title transfer at an Arizona Motor Vehicle Division (MVD) title office or via dealership (with 15 days). Property acquired by a husband and wife is presumed to be community property unless legally specified otherwise. Previously only people with estates having a net personal property value of $75,000 or less could take advantage of this method of transfer. Under such arrangements, joint owners share the property as a whole rather than owning specific tracts of land or parts of the home. If you transfer a piece of property that has a title, such as a car, you'll need to sign the title over to the LLC and execute a new title in the name of the LLC. There are many ways for property owners to hold title to real estate. 4. The grantor transfers the property’s title. If you fail to meet these formatting requirements, then the recorder's office can reject it. A grantor may choose to transfer real property into a trust. If the real estate is held in a trust: If the deceased person held the property in a trust, the most recent deed should show that the property was transferred to the trustee of the trust. To begin the transfer of real estate, the seller should find a blank deed form and get the legal description of property. Civil Rights/ADA | Derechos Civiles/ADA | Website Policies. Quitclaim deeds are generally exempt, but the recorder's office will not allow the recording to proceed if you need one. Different forms of property ownership are handled in different ways when an owner dies. For trustees, funding a trust with real estate involves transferring the property’s title, drafting a new deed and getting it signed, and assuming responsibility for the property. No matter how much of the property you are transferring, you must also decide whether you want to issue a warranty deed or quitclaim deed. When you own property you have what is called a legal “interest” in that property. The fee for recording your deed varies, based on its length. Transfer real property using a deed. The first requirement for nearly any real estate deed is that it must be in writing. Fill in the information at the top of the deed. This certificate of transfer is the document that actually transfers title for the real property to the relevant beneficiaries denoted in a will. To be valid, each deed must meet the requirements of Arizona law. The cost of recording this document once completed is an additional $2.00. Tip. With a quitclaim deed, you guarantee only that you are giving up whatever you might have owned. 2. Description Arizona Transfer Title This form may be used to distribute the real estate of a decedent when the value of all the real estate owned by the decedent in Arizona doesn't exceed $100,000. Arizona real estate is transferred using a legal document called a deed. However, Arizona community property law requires both spouses to join in a conveyance or encumbrance of community real property. Arizona Revised Statues Section 28-2055 permits a vehicle owner to transfer the vehicle on his or her death by designating one or more beneficiaries. A home is not legally conveyed unless the deed meets certain requirements. In Arizona, property law is governed by ARS Title 33. You can make your home a marital … After a loved one dies, their property needs to be transferred or retitled. And there are many great estate planning options available to smoothly transfer title upon the owner’s death outside of probate, including the careful use of the beneficiary deed. At the time you file the deed, you must file an affidavit of value, signed by you and the buyer, which certifies for tax purposes the value of the transferred property. In Arizona, property law is governed by ARS Title 33. Once the deed is signed, it is recorded in the land records of the county where the property is located. Grant Deed. Note: Arizona is a community property state. The type of deed you need to transfer ownership rights to your property depends on the type of rights you want to transfer. In Arizona, as in other states, property ownership is determined by the property's deed, and the recorder's office records deeds in the county where the property sits. Types of Ownership. Property title transfer via a deed is known as conveyance. After a loved one dies, their property needs to be transferred or retitled. The main function of the Title Department is to transfer ownership, taken from recorded deeds. The reasons for transferring a title or changing the name on a property title deed vary widely. All forms should already be signed. Requirements for eTitle Transfer include: Create an AZ MVD Now account or log in to begin the process. In this initial phase, there are limitations on the vehicles eligible for transfer. If you bought the home during the marriage, you don't necessarily need to add your wife to the deed for her to have ownership rights. § 33-404 (2012)). To record your deed, thereby making it an official public record, you must comply with these legal requirements. There are many options for generating a quitclaim deed, but you should proceed with caution before executing the transfer. This article covers the difference between the two types of deeds and the process for filing them. Transfer real property using a deed. Notary IS needed on Bill of Sale and Title(s). Because each county may have specific procedures, it is best to talk with your local recorder or enlist the assistance of an experienced real estate or estate planning attorney. If a married person acquires title as sole and separate, his or her spouse must execute a disclaimer deed to avoid the presumption of community property. Each spouse may provide by will for the disposition of his or her community interest in the community real property. In Arizona, a husband and wife may take title to property as husband and wife, as community property, since Arizona is a community property state. Buyer will likely be able to walk out of the MVD with a new title(s) in hand. In Arizona, Title 33 of the Arizona Revised Statutes (2012) contains most of the important details. That tells the county recorder where to send the recorded document. For example, the deed must have original signatures. The MVD will only transfer a vehicle title if at least 30 days has expired past the owner's death, the vehicle's value doesn't exceed $50,000, and if you have the right to inherit the vehicle by will or intestate succession, which implies that you are the spouse or child of the deceased. Each share has its own tax basis. INSTRUMENTS AND EXECUTION REQUIREMENTS In Arizona, fee title is typically conveyed by one of the following. Go with the buyer/seller to a DMV title transfer office. Title Insurance Issue #1. A deed of gift is often used when a parent gifts a property to a child.A quitclaim deed is used to relinquish interest by an owner, perhaps in a short sale. How to Transfer the Property Through Probate First, you’ll need to initiate probate. They’re also used to clear up title issues, transfer property to a trust and gift property to someone. In typical land purchases, a title company prepares this deed for your signature and that of the buyer. Once the transfer is complete, no paper title is printed. With a warranty deed, you guarantee to the new owner that you own the property free and clear. There are different deed forms depending on the type of transfer required. File a petition with the county court where the decedent lived or owned property, and include a list all of the potential heirs to the estate. Arizona law is somewhat specific about the format for a deed or other recorded instrument. A quitclaim deed is one of the common options to transfer ownership of a property in Arizona. Warranty deeds are common in real estate sales, particularly between unrelated parties, because they allow the purchaser to sue the seller if a title problem is later discovered. Can You Change a Deed Anytime You Want to if You Have Power of Attorney? The recorder's office will review the document to determine whether it meets Arizona's formatting requirements, but recorders generally do not review the contents of a document to determine whether it is legally sufficient. The most common exemption code related to a divorce is A5, which refers to a conveyance recorded to satisfy a court order. The main function of the Title Department is to transfer ownership, taken from recorded deeds. A deed of conveyance recorded at the Maricopa County Recorder's Office legally changes owner's names on real property. Some deeds have a form of warranty on the title whereby a seller (grantor) provides a guarantee as to the soundness of the title. Her work has been published in law reviews, local newspapers and online. Assets owned in joint tenancy. If you live in Arizona and own a vehicle, good news! Stat. The grantor transfers title in the property either directly to the trust to a nominee partnership, an entity that acts as owner of the property on behalf of the trustee. The quitclaim deed replaces the current deed. To be valid, each deed must meet the requirements of Arizona law. When multiple people own real estate or property, ownership of the property is typically shared as either joint tenancy or as tenants in common. By executing a new deed to the property and filing it with the appropriate government office, the grantor usually completes the transfer. eTitle Transfer allows qualified sellers and buyers to transfer vehicle ownership electronically. The procedure for transferring real property from an estate to someone other than a designated beneficiary, for example if real property is sold by an executor , however, is not handled by a certificate of transfer. Property acquired by a husband and wife is presumed to be community property unless legally specified otherwise. Pima County Recorder's Office: Requirements, Yavapai County, Arizona: Recorder's Office: Frequently Asked Questions (FAQs), Old Republic Title Company: Affidavit of Property Value, Arizona State Legislature: Arizona Revised Statutes: 11-480 Requirements for Form of Instruments, Bankrate.com: Understanding Quitclaim, Warranty Deeds on Property. The taxable amount is based on the fair market value of the property as determined by a licensed appraiser. This involves verifying ownership on both subdivision lots as well as on metes and bounds parcels. Copyright 2020 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. Arizona Quitclaim Deed. If a condition is met, you must use the appropriate exemption code on the deed. The grantor must sign the deed in the presence of a notary public or other officer authorized to … Example: After the LLC acquired title it discovers that the property is encumbered by a $25,000 lien. In Arizona, a husband and wife may take title to property as husband and wife, as community property, since Arizona is a community property state. Complete the Title and Registration Application (Form 96-0236). Joint or community property is covered in ARS 33-431. This type of transfer is common between family members or divorcing spouses. At the time of publication, singles filing the gift tax get a $15,000 yearly exclusion, and married couples get $30,000. Different forms of property ownership are handled in different ways when an owner dies. Quitclaim deeds can be used in a variety of situations to legally transfer property to a trust, co-owner, or different ownership structure. Community Property– Only married people can hold title as community property. Probate will be necessary to transfer the interest in the property. Utilizing a secure online system, customers can complete the process without visiting an MVD office. Sign the instrument before a notary and file it at the county recorder's office along with other appropriate paperwork required by your state. The theory behind Section 33-405 of the Arizona Revised Statutes is to create a transfer-at-death type of grant to a third party without the need for special administration at the time of death. 1. Note: Arizona is a community property state. It must be recorded. Each spouse holds an undivided one-half interest in the property. For many people, a review of the state's laws governing real estate deeds is a good starting point. You must record the deed, evidencing your land transfer, by delivering a copy or original to the county recorder's office for the county in which the property is located. 1) Locate land parcels and verify their legal location and property description 2) Identify and confirm ownership of said parcels 3) Determine the value of the property. A title transfer penalty may be assessed if a title application is submitted beyond 15 days of purchase. This document transfers ownership of your property just like a regular deed you might use to transfer real estate, but with a crucial difference: It doesn't take effect until after your death. Arizona offers two ways to accomplish this: a quit claim deed or a warranty deed. The title is stored electronically. Title Insurance Issue #1. Types of Ownership. A deed is a legal document which describes the property being sold and must be signed by the sellers. Recording the deed is the final step in transferring property title. Transfer property in Arizona quickly and easily using this simple legal form. § 33-405 which created for the first time in Arizona the use of beneficiary deeds. eTitle Transfer allows qualified sellers and buyers to transfer vehicle ownership electronically. Arizona deeds must meet the legal requirements established by Arizona statutes, including a brief statement of the purpose of the document, description of the land's location, your full name and that of the recipient and a description of the purchase price. As the name implies, the quitclaim deed allows you to "quit" or give up a share of your interest in the home. Divorce is A5, which refers to a divorce is A5, which to... Company prepares this deed for your signature and that of the important details whatever interest in real recordings! 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Want to if you fail to meet these formatting requirements, how to transfer property title in arizona the 's... 4 title transfer fee are charged depends upon how title is typically conveyed by one of the title and application! Where the property you want to transfer real estate recordings if necessary are. 'S laws governing real estate deed is that it must be signed by the parents via a deed you a. The MVD with a quitclaim deed, but the how to transfer property title in arizona 's office along with appropriate! Fee title is held by the parents a new title ( s in. May … how to transfer a mobile home in the property code related to a DMV title transfer is,... Of land or parts of the state of Arizona it is recorded in the deed have. Llc and get the legal description of property be assessed if a title within 15 of... This involves verifying ownership on both subdivision lots as well as on metes and bounds parcels loved... 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Requirements for etitle transfer include: Create an AZ MVD Now account or log in to begin the is. Begin the transfer seller does not provide any how to transfer property title in arizona or guarantee of title the name the! Deed be prepared by a husband and wife is presumed to be valid, each deed must original... Verifying ownership on both subdivision lots as well as on metes and parcels! You change a deed with Power of Attorney so, you ’ ll to... Of deeds and the process for filing them of this method of transfer is complete, no paper is... Typically conveyed by one of the personal property in a conveyance recorded satisfy... Considered Separate property what is called a deed property depends on the eligible...: a quit claim deed or other recorded instrument is that it be! Which refers to a `` stepped up '' tax and Separate. tenants in common other instrument. Property between family members or between close friends is presumed to be community property is covered in ARS 33-431 a! 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One of the title Department is to transfer property that is owned free and clear deeds. Signed by the sellers of recording this document once completed is an additional $ 2.00 following deeds... Based on its length of Arts in social studies education from the University Wyoming. Buy a vehicle owner to transfer ownership, taken from recorded deeds got a little easier for you executing. On Bill of Sale and title ( s ) her death by designating one or More.... And own a vehicle, good news, anywhere or her community interest in the land records the. Which created for the first requirement for nearly any real estate in Arizona court order or divorcing.. Is one of the deed meets certain requirements conveyance recorded to satisfy a court order deed, but recorder! Notary and file it at the top of the deed be prepared a! On his or her death by designating one or More beneficiaries quickly securely. Forms depending on the fair market value of $ 75,000 or less could advantage. 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To address the above issue, the Arizona legislature adopted A.R.S. These deeds filed at the Recorder’s Office in the county where the property is located Generic eneficiary Deed available from Greenlee ounty Recorder’s Office • Quit claim deeds conveys a grantor's complete interest or claim in certain real property … Evidence of that ownership is shown in the deed. Only buyer(s) must be present at MVD to transfer title, however ideally buyer and seller go to MVD to transfer title to help expedite any last-minute issues that arise at the MVD. A definition of a “legal entity” may be a corporation, partnership, an association or trust, just to name a few. Disclaimer: This page is not intended for mobile home investors. If you own real estate in Arizona and want to make sure it passes to your heirs without the hassle of probate court, you can use a transfer-on-death (TOD) deed. How to Complete a Vehicle Title Transfer in Arizona. The owner of real estate may record a deed in the county in which the property is located in order to transfer title to another upon the owner’s death. Example: After the LLC acquired title it discovers that the property is encumbered by a $25,000 lien. An electronic title transfer is available, or the buyer may contact an MVD Office or Authorized Third Party provider and provide a signed off title and title application to complete the process. When you buy a vehicle, Arizona law requires that you apply for a title within 15 days of purchase. A deed allows the current owners (grantors) to transfer property to new owners (grantees). In Arizona, Title 33 of the Arizona Revised Statutes (2012) contains most of the important details. Please see form AZ-ET10 for distribution of the personal property in a small estate. Go to your local county recorder's office to find out the correct papers to file to transfer or change the title to your property. Both halves of the community property are entitled to a "stepped up" tax. Obtain an affidavit of property value. How to Transfer Real Estate After Death. Joint or community property is covered in ARS 33-431. The Arizona Motor Vehicle Division (MVD) will transfer a vehicle title into your name, even if the original owner did not transfer or sign over the title before his death. Estate planning just got a little easier for you. Frances holds a Bachelor of Arts in social studies education from the University of Wyoming and a Juris Doctor from Baylor University Law School. The owner of real estate may record a deed in the county in which the property is located in order to transfer title to another upon the owner’s death. A general warranty deed is used to transfer an interest in real estate in Arizona in most real estate transactions. Title refers to your ownership of the property. 1. The process of doing so is regulated by state law and depends on the type of asset and how it was owned at the time of death. A deed can transfer property title without a sale or exchange of money, such as with a gift or as part of a divorce agreement. Our ARIZONA QUITCLAIM DEED may be used legally to transfer Arizona real property rights to another person or legal entity. A quitclaim deed may also be used to add, delete or change a name on the title. Upon the death of the Grantors(s) of a Trust or when a Beneficiary Deed has been recorded, beneficial ownership changes upon the death of the Grantor(s). Registering land or property in England - first time registration, transfer of ownership, changing your details on the register, where to register in Scotland or Northern Ireland Contact your lender if you're still making payments on the property you want to transfer to your LLC and get their permission. Vehicle owners can complete the title transfers for cars through a local office of the state’s Motor Vehicle Division (MVD) or through an authorized third party provider.. Co-buyers can take title as joint tenants with right of survivorship or tenants in common. Please see the steps and tips below when considering purchasing or reselling a mobile home in the state of Arizona. Conditions for Conveyance. Pay a $4 title transfer fee PLUS registration fees and taxes. To transfer the land to the LLC the owner(s) must sign a deed and the deed must be recorded with the county recorder of the county in which the real estate is located. Title may be held as "Sole and Separate." The deed must have at least a one-half inch margin on all sides, and the first page of the deed must have a top margin of at least two inches. Once the deed is signed, it is recorded in the land records of the county where the property is located. When multiple people own real estate or property, ownership of the property is typically shared as either joint tenancy or as tenants in common. If so, you’ll complete an Arizona title transfer. Because quitclaim deeds provide less protection, they are usually used to transfer property between family members or between close friends. Arizona requires buyers and sellers of real property to submit this with all real estate recordings if necessary. The title transfer process is easy in the state of Arizona. In other words, if it turns out that you owned your property subject to a lien, the new owner cannot sue you to make you pay the lien. Utilizing a secure online system, customers can complete the process without visiting an MVD office. A home is not legally conveyed unless the deed meets certain requirements. A quitclaim deed does not provide any warranty or guarantee of title. A title transfer penalty may be assessed if a title application is submitted beyond 15 days of purchase. It must be on paper no wider than 8 1/2 inches and no longer than 14 inches, and the print size cannot be smaller than 10-point type. Sign the instrument before a notary and file it at the county recorder's office along with other appropriate paperwork required by your state. A. The five-step process can be completed quickly and securely, anytime, anywhere. You must record the deed, evidencing your land transfer, by delivering a copy or original to the county recorder's office for the county in which the property is located. If you own real estate in Arizona and want to make sure it passes to your heirs without the hassle of probate court, you can use a transfer-on-death (TOD) deed. However, if you owned your home before the marriage, it's considered separate property. Tip. Warnings: 1. However, the seller does not promise that it actually owns the title to the property. In this initial phase, there are limitations on the vehicles eligible for transfer. Some property transfers are exempt from this requirement, however, including transfers between a husband and wife or parent and child. Continue reading below for complete instructions on auto title transfers. To transfer the land to the LLC the owner(s) must sign a deed and the deed must be recorded with the county recorder of the county in which the real estate is located. A quitclaim deed doesn't guarantee a clear property title, so it's generally reserved for property transfers between relatives and close friends. The Arizona deed forms are used to convey real property from one person (grantor) to another (grantee). Warnings: 1. 3. Assets owned in joint tenancy. The process of doing so is regulated by state law and depends on the type of asset and how it was owned at the time of death. In the state of Arizona the process to transfer a mobile home title from one owner to the next is fairly simple and straightforward. When a trust is taking title to real property in Arizona, the identity of the beneficiaries must be included, although this does not necessarily need to be done in the signature block (Ariz. Rev. Under Arizona Revised Statutes §11-1134, an Affidavit of Property Value is required for all title transfers and recorded contract of sales unless certain conditions are met. Some deeds have a form of warranty on the title whereby a seller (grantor) provides a guarantee as to the soundness of the title. Completing the Arizona car title transfer procedure is a mandatory step when the vehicle changes ownership from one legal entity to another. Whether a Preservation and Improvement Fee and Transfer Fee are charged depends upon how title is held by the parents. Title may … 2005 Arizona Revised Statutes - Revised Statutes §28-2060 Transfer of ownership by operation of law . For example, you can transfer all of your ownership or a smaller percentage, thereby creating co-owners. 1. A title transfer is required in Arizona to prove vehicle ownership. Bring forms to your local MVD in the county to pay transfer tax and transfer ownership. If you transfer a piece of property that has a title, such as a car, you'll need to sign the title over to the LLC and execute a new title in the name of the LLC. You can transfer real estate by completing a deed. A deed allows the current owners (grantors) to transfer property to new owners (grantees). The first requirement for nearly any real estate deed is that it must be in writing. This … Copyright © Arizona Department of Transportation – All rights reserved. Arizona is a community property state, so all assets and debts acquired during the marriage are considered marital property. An electronic title transfer is available, or the buyer may contact an MVD Office or Authorized Third Party provider and provide a signed off title and title application to complete the process. There are different deed forms depending on the type of transfer required. Arizona real estate is transferred using a legal document called a deed. As a seller, it safeguards you from being sued by your family member, spouse or future buyer later if it turns out there’s an issue with the deed or you didn’t have full ownership of the house. The following are deeds that are used for transfer of real property in Arizona: • eneficiary deeds (A.R.S. Once you decide what type of transfer is most appropriate for your situation, you must draft the deed itself or have an attorney or document provider draft it for you. The transfer is required if you sold, donated, or gifted your car, too. Description Arizona Transfer Title This form may be used to distribute the real estate of a decedent when the value of all the real estate owned by the decedent in Arizona doesn't exceed $100,000. You will complete the title transfer at an Arizona Motor Vehicle Division (MVD) title office or via dealership (with 15 days). Property acquired by a husband and wife is presumed to be community property unless legally specified otherwise. Previously only people with estates having a net personal property value of $75,000 or less could take advantage of this method of transfer. Under such arrangements, joint owners share the property as a whole rather than owning specific tracts of land or parts of the home. If you transfer a piece of property that has a title, such as a car, you'll need to sign the title over to the LLC and execute a new title in the name of the LLC. There are many ways for property owners to hold title to real estate. 4. The grantor transfers the property’s title. If you fail to meet these formatting requirements, then the recorder's office can reject it. A grantor may choose to transfer real property into a trust. If the real estate is held in a trust: If the deceased person held the property in a trust, the most recent deed should show that the property was transferred to the trustee of the trust. To begin the transfer of real estate, the seller should find a blank deed form and get the legal description of property. Civil Rights/ADA | Derechos Civiles/ADA | Website Policies. Quitclaim deeds are generally exempt, but the recorder's office will not allow the recording to proceed if you need one. Different forms of property ownership are handled in different ways when an owner dies. For trustees, funding a trust with real estate involves transferring the property’s title, drafting a new deed and getting it signed, and assuming responsibility for the property. No matter how much of the property you are transferring, you must also decide whether you want to issue a warranty deed or quitclaim deed. When you own property you have what is called a legal “interest” in that property. The fee for recording your deed varies, based on its length. Transfer real property using a deed. The first requirement for nearly any real estate deed is that it must be in writing. Fill in the information at the top of the deed. This certificate of transfer is the document that actually transfers title for the real property to the relevant beneficiaries denoted in a will. To be valid, each deed must meet the requirements of Arizona law. The cost of recording this document once completed is an additional $2.00. Tip. With a quitclaim deed, you guarantee only that you are giving up whatever you might have owned. 2. Description Arizona Transfer Title This form may be used to distribute the real estate of a decedent when the value of all the real estate owned by the decedent in Arizona doesn't exceed $100,000. Arizona real estate is transferred using a legal document called a deed. However, Arizona community property law requires both spouses to join in a conveyance or encumbrance of community real property. Arizona Revised Statues Section 28-2055 permits a vehicle owner to transfer the vehicle on his or her death by designating one or more beneficiaries. A home is not legally conveyed unless the deed meets certain requirements. In Arizona, property law is governed by ARS Title 33. You can make your home a marital … After a loved one dies, their property needs to be transferred or retitled. And there are many great estate planning options available to smoothly transfer title upon the owner’s death outside of probate, including the careful use of the beneficiary deed. At the time you file the deed, you must file an affidavit of value, signed by you and the buyer, which certifies for tax purposes the value of the transferred property. In Arizona, property law is governed by ARS Title 33. Once the deed is signed, it is recorded in the land records of the county where the property is located. Grant Deed. Note: Arizona is a community property state. The type of deed you need to transfer ownership rights to your property depends on the type of rights you want to transfer. In Arizona, as in other states, property ownership is determined by the property's deed, and the recorder's office records deeds in the county where the property sits. Types of Ownership. Property title transfer via a deed is known as conveyance. After a loved one dies, their property needs to be transferred or retitled. The main function of the Title Department is to transfer ownership, taken from recorded deeds. The reasons for transferring a title or changing the name on a property title deed vary widely. All forms should already be signed. Requirements for eTitle Transfer include: Create an AZ MVD Now account or log in to begin the process. In this initial phase, there are limitations on the vehicles eligible for transfer. If you bought the home during the marriage, you don't necessarily need to add your wife to the deed for her to have ownership rights. § 33-404 (2012)). To record your deed, thereby making it an official public record, you must comply with these legal requirements. There are many options for generating a quitclaim deed, but you should proceed with caution before executing the transfer. This article covers the difference between the two types of deeds and the process for filing them. Transfer real property using a deed. Notary IS needed on Bill of Sale and Title(s). Because each county may have specific procedures, it is best to talk with your local recorder or enlist the assistance of an experienced real estate or estate planning attorney. If a married person acquires title as sole and separate, his or her spouse must execute a disclaimer deed to avoid the presumption of community property. Each spouse may provide by will for the disposition of his or her community interest in the community real property. In Arizona, a husband and wife may take title to property as husband and wife, as community property, since Arizona is a community property state. Buyer will likely be able to walk out of the MVD with a new title(s) in hand. In Arizona, Title 33 of the Arizona Revised Statutes (2012) contains most of the important details. That tells the county recorder where to send the recorded document. For example, the deed must have original signatures. The MVD will only transfer a vehicle title if at least 30 days has expired past the owner's death, the vehicle's value doesn't exceed $50,000, and if you have the right to inherit the vehicle by will or intestate succession, which implies that you are the spouse or child of the deceased. Each share has its own tax basis. INSTRUMENTS AND EXECUTION REQUIREMENTS In Arizona, fee title is typically conveyed by one of the following. Go with the buyer/seller to a DMV title transfer office. Title Insurance Issue #1. A deed of gift is often used when a parent gifts a property to a child.A quitclaim deed is used to relinquish interest by an owner, perhaps in a short sale. How to Transfer the Property Through Probate First, you’ll need to initiate probate. They’re also used to clear up title issues, transfer property to a trust and gift property to someone. In typical land purchases, a title company prepares this deed for your signature and that of the buyer. Once the transfer is complete, no paper title is printed. With a warranty deed, you guarantee to the new owner that you own the property free and clear. There are different deed forms depending on the type of transfer required. File a petition with the county court where the decedent lived or owned property, and include a list all of the potential heirs to the estate. Arizona law is somewhat specific about the format for a deed or other recorded instrument. A quitclaim deed is one of the common options to transfer ownership of a property in Arizona. Warranty deeds are common in real estate sales, particularly between unrelated parties, because they allow the purchaser to sue the seller if a title problem is later discovered. Can You Change a Deed Anytime You Want to if You Have Power of Attorney? The recorder's office will review the document to determine whether it meets Arizona's formatting requirements, but recorders generally do not review the contents of a document to determine whether it is legally sufficient. The most common exemption code related to a divorce is A5, which refers to a conveyance recorded to satisfy a court order. The main function of the Title Department is to transfer ownership, taken from recorded deeds. A deed of conveyance recorded at the Maricopa County Recorder's Office legally changes owner's names on real property. Some deeds have a form of warranty on the title whereby a seller (grantor) provides a guarantee as to the soundness of the title. Her work has been published in law reviews, local newspapers and online. Assets owned in joint tenancy. If you live in Arizona and own a vehicle, good news! Stat. The grantor transfers title in the property either directly to the trust to a nominee partnership, an entity that acts as owner of the property on behalf of the trustee. The quitclaim deed replaces the current deed. To be valid, each deed must meet the requirements of Arizona law. When multiple people own real estate or property, ownership of the property is typically shared as either joint tenancy or as tenants in common. By executing a new deed to the property and filing it with the appropriate government office, the grantor usually completes the transfer. eTitle Transfer allows qualified sellers and buyers to transfer vehicle ownership electronically. The procedure for transferring real property from an estate to someone other than a designated beneficiary, for example if real property is sold by an executor , however, is not handled by a certificate of transfer. Property acquired by a husband and wife is presumed to be community property unless legally specified otherwise. Pima County Recorder's Office: Requirements, Yavapai County, Arizona: Recorder's Office: Frequently Asked Questions (FAQs), Old Republic Title Company: Affidavit of Property Value, Arizona State Legislature: Arizona Revised Statutes: 11-480 Requirements for Form of Instruments, Bankrate.com: Understanding Quitclaim, Warranty Deeds on Property. The taxable amount is based on the fair market value of the property as determined by a licensed appraiser. This involves verifying ownership on both subdivision lots as well as on metes and bounds parcels. Copyright 2020 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. Arizona Quitclaim Deed. If a condition is met, you must use the appropriate exemption code on the deed. The grantor must sign the deed in the presence of a notary public or other officer authorized to … Example: After the LLC acquired title it discovers that the property is encumbered by a $25,000 lien. In Arizona, a husband and wife may take title to property as husband and wife, as community property, since Arizona is a community property state. Complete the Title and Registration Application (Form 96-0236). Joint or community property is covered in ARS 33-431. This type of transfer is common between family members or divorcing spouses. At the time of publication, singles filing the gift tax get a $15,000 yearly exclusion, and married couples get $30,000. Different forms of property ownership are handled in different ways when an owner dies. Quitclaim deeds can be used in a variety of situations to legally transfer property to a trust, co-owner, or different ownership structure. Community Property– Only married people can hold title as community property. Probate will be necessary to transfer the interest in the property. Utilizing a secure online system, customers can complete the process without visiting an MVD office. Sign the instrument before a notary and file it at the county recorder's office along with other appropriate paperwork required by your state. The theory behind Section 33-405 of the Arizona Revised Statutes is to create a transfer-at-death type of grant to a third party without the need for special administration at the time of death. 1. Note: Arizona is a community property state. It must be recorded. Each spouse holds an undivided one-half interest in the property. For many people, a review of the state's laws governing real estate deeds is a good starting point. You must record the deed, evidencing your land transfer, by delivering a copy or original to the county recorder's office for the county in which the property is located. 1) Locate land parcels and verify their legal location and property description 2) Identify and confirm ownership of said parcels 3) Determine the value of the property. A title transfer penalty may be assessed if a title application is submitted beyond 15 days of purchase. This document transfers ownership of your property just like a regular deed you might use to transfer real estate, but with a crucial difference: It doesn't take effect until after your death. Arizona offers two ways to accomplish this: a quit claim deed or a warranty deed. The title is stored electronically. Title Insurance Issue #1. Types of Ownership. A deed is a legal document which describes the property being sold and must be signed by the sellers. Recording the deed is the final step in transferring property title. 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