When the Owner Changes His Mind If the owner of the real estate should have a change of heart and decide that he does not want his named beneficiary to inherit his property, it's a simple matter to "undo" the deed. Title may be held as "Sole and Separate." Property acquired by a husband and wife is presumed to be community property unless legally specified otherwise. A definition of a “legal entity” may be a corporation, partnership, an association or trust, just to name a few. Since the trustee holds legal title to the property, the property is always held in the trustee's name. Copyright ©2020 MH Sub I, LLC dba Nolo ® Self-help services may not be permitted in all states. 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. Since both parties are already aware of any possible existing issues to the property, the quitclaim deed is a simple process that forgoes the amount of paperwork that can be involved with title issues. Some deeds have a form of warranty on the title whereby a seller (grantor) provides a guarantee as to the soundness of the title. Don't confuse the deed title with these other types of deeds to transfer ownership. § 33-405 which created for the first time in Arizona the use of beneficiary deeds. When you, as a property owner, want to transfer your ownership interest, or part of it, to someone else, you must use a deed to officially give the property to its new owner. Your use of this website constitutes acceptance of the Terms of Use, Supplemental Terms, Privacy Policy and Cookie Policy. This puts the world on notice that title to the real estate has been transferred into the name of the beneficiary listed in the TOD deed due to the owner's death. A mobile home title often contains the mobile home’s serial number, Vehicle identification number (VIN), age, make, model, size, address, date of title, date of last title, and also an area for the buyers and seller’s signature. To be valid, each deed must meet the requirements of Arizona law. Many people think they can come into the office and change the present recorded deed with a form, but that is not the case. To change, add or remove a name on your deed a new deed needs to be recorded reflecting the change. You may be selling, gifting or otherwise transferring your property, or you may just wish to change the way in which you hold your property. A name change may not be allowed if the court thinks that the change might affect the rights of another person such as a creditor or the other parent of the child. In this article I will discuss more about the difference between the two types of deeds and the process we use for filing your deed. A deed of conveyance recorded at the Maricopa County Recorder's Office legally changes owner's names on real property. Once the deed is signed, it is recorded in the land records of the county where the property is located. (link is external) within 15 days of purchase. One of the services offered at Arizona Statewide Paralegal is the filing of a quit claim deed or warranty deed in order to add someone to the title of a house. Sometimes it is desirable to add someone to the title of a house you own. Arizona law recognizes several types of joint ownership involving real estate, each with its own characteristics. The following are deeds that are used for transfer of real property in Arizona: Arizona Deed 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. Completing the Arizona car title transfer procedure is a mandatory step when the vehicle changes ownership from one legal entity to another. 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.An Arizona beneficiary deed for works the same way as a TOD designation on a bank account. Enter Full Legal Names of All Parties. Often times this paper title needs to be protected and kept in a safe place away from thieves. 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. Quitclaim deeds are generally exempt, but the recorder's office will not allow the recording to proceed if you need one. Taking title to a house in joint tenancy is an effective way to pass it on to the survivor without going through probate (and with no need to include it in a will). The grantor is the current owner and the grantee is the acquiring party. How to change your name if you’re an adult in Arizona In order to legally change your name, you must prepare two documents: the Application for Change of Name … In addition, many mortgages have a “due on sale” clause, which means that if you transfer ownership of the property, the lender could require you to pay the full mortgage amount. The … - A transfer of title that confirms or corrects a previously recorded document. Usually, you can do this with a simple quitclaim deed. The cost of recording this document once completed is an additional $2.00.  To transfer title, you will need to prepare a deed, execute that deed, and record it. In the case of a gift, enter the cost of recording the deed. What do we need to do to change a property title in Arizona? Create an AZ MVD Now account or log in to begin the process. If you have any questions, please reach out to us on our contact us page. To address the above issue, the Arizona legislature adopted A.R.S. Record the document at the Maricopa County Recorder's office with applicable fees paid by cash or check made payable to: Maricopa County Recorder. The county website has a fee calculator to assist. If it is necessary to drive the vehicle to complete this transaction, the buyer must obtain a Restricted Use Three-Day Permit , for private sales, or a Temporary Registration Plate, for vehicles purchased from a … Changing the title vesting to JTWROS allows the ownership of the property to automatically pass to the other owner when one 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. Joint tenancy with the right of survivorship. Online legal document centers, such as LegalZoom, offer deed transfer services for around $250, plus filing fees. Arizona offers two ways to accomplish this: a quit claim deed or a warranty deed. COMMUNITY PROPERTY Because Arizona is a community property State, there is a statutory presumption that all property acquired by husband and wife during the marriage, except property acquired by gift, devise or descent, is community property. An estate attorney will be able to explain any property transfer laws that may enable the grantor to transfer a house deed to the certain grantee(s) tax-free. The way property is transferred depends on the circumstances of that transfer. For all property owners, a day inevitably comes when it's time to transfer the title to the property to another party. You must record the original, signed and notarized document to the Maricopa County Recorder's Office. If you do not have the deed, obtain a copy from the Maricopa County recorder's office. When you buy a vehicle, Arizona law requires that you apply for a title. Joint Tenancy with the Right of Survivorship, Community Property with the Right of Survivorship. Property transfers, including changing the way in which you hold title, often have tax implications many people may not completely understand. A quitclaim deed may also be used to add, delete or change a name on the title. Duplicate Title. She will require picture identification and may ask you if you are sure you are signing of your own free will. If you transfer real estate as a gift, you will be subject to the gift tax. Obtain the correct deed transfer document. This article covers the difference between the two types of deeds and the process for filing them. To transfer titles for bank accounts and investments held in joint tenancy, you need to follow the financial institution's instructions. Go with the buyer/seller to a DMV title transfer office. However, many places offer a tax exemption for transfers from a parent to a child. Please see the steps and tips below when considering purchasing or reselling a mobile home in the state of Arizona. A grantor may choose to transfer real property into a trust. Removing a Divorced Spouse from a House Title with a Quitclaim Deed A quitclaim deed is a legal document that transfers ownership of a property from one person to another. While the documents provided within this tutorial will serve the majority of Arizona counties, you should still contact a superior court clerkto determine the exact forms that are required as well as the associated filing fees. Changing the title to real property in a living trust requires legal authorization. There are different deed forms depending on the type of transfer required. A quitclaim deed may also be used to add, delete or change a name on the title. Joint Tenancy with the Right of Survivorship. The clerk will copy, stamp and return the document to you to complete the recording. Community property is an estate of co-ownership between married persons only. When you name a beneficiary, who will obtain title to the property upon your death, you must do so according to the applicable state law. Learn more: Step by Step self-paced guide; Frequently Asked Questions - A deed recorded to show transfer of real property as a gift where no money changes hands. Please reference the Terms of Use and the Supplemental Terms for specific information related to your state. Real Estate Deed Transfers to a Revocable Trust. Typically set up for estate planning purposes, revocable trusts don't take full effect until they are funded. Arizona Quitclaim Deed Our ARIZONA QUITCLAIM DEED may be used legally to transfer Arizona real property rights to another person or legal entity. Property acquired by a husband and wife is presumed to be community property unless legally specified otherwise. * For documents that evidence a transfer of real property, an affidavit of property value form needs to accompany the document. Use a quitclaim deed to transfer your real estate title into your trust. To complete the conveyance, you will need to transfer title to that property to the person taking over ownership. 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. The names of Arizona deeds are determined by the features of the deed. 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.. Arizona real estate is transferred using a legal document called a deed. Title could involve a right of survivorship or revocable trust. My grandmother who we bought the house from signed a “gift of equity” to help us get to a 20% down. You personally are still obligated to make the mortgage payments on time. The grantor must sign the deed in the presence of a notary public or other officer authorized to … Sign at the bottom if you are the Grantor. All forms of house deed transfers require a newly written deed that includes, at a minimum, a description of the property being transferred and the name and date of birth of each grantee. Name yourself and your wife as the grantees. Transferring a real estate title to an LLC doesn’t transfer the mortgage. § 33-405 which created for the first time in Arizona the use of beneficiary deeds. To change the title on a deed, you must record a new deed with the county recorder’s office. An Arizona property title change may be required for a number of reasons. How to change the real estate closing date on a house Closing dates are outlined in the purchase contract. A definition of a “legal entity” may be a corporation, partnership, an association or trust, just to name a few. ​Read More:​ How to Transfer a Property Deed in Arizona. A title transfer penalty may be assessed if a title application is … Co-buyers can take title as joint tenants with right of survivorship or tenants in common. You have several options as to how you hold title to your Arizona property, including: 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. The Grantee does not need to sign the document. This point is often confusing because many people believe that property should be held in the name of the trust. 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. Whenever you’re in a situation of owing some money to the bank for your loaned house never, do quitclaim or name change on property deed or else be ready for a lawsuit by the bank. Almost immediately, those homeowners discover there's more than one way to do this — quitclaim deeds, warranty deeds, special warranty deeds and more. Enter the full legal name of all parties to the transaction. In Arizona, Title 33 of the Arizona Revised Statutes (2012) contains most of the important details. Often times this paper title needs to be … Getting the help of an attorney with property transactions can help you to avoid pitfalls, such as tax liability you may not know of. A deed is a common vehicle for transferring title of a home. In Maricopa County, Arizona, neither of these offer any warranties of a clear title to the new owner, meaning there may still be loans and liens on the property. Do Not Sell My Personal Information. Inheriting property is typically considered a boon. Our ARIZONA QUITCLAIM DEED may be used legally to transfer Arizona real property rights to another person or legal entity. Transferring a real estate title to an LLC doesn’t transfer the mortgage. This must be done in the presence of a Notary Public and two witnesses, and the notary must sign and place her seal on the document. The deed must have a caption that summarized the type of document it is: gift or quitclaim deed. Fill out the type of consideration. Still, as with any type of inheritance, the legal ins-and-outs can put a damper on your enthusiasm. The holder of a house title has the right to use and make changes to their property, and, depending on how they hold title, they may transfer their share of the title to a different owner on their own or through an agreement with their property co-owner. With a trust and transfer title, a trustee owns the property, but it is managed for the benefit of the trustor (the person who will inherit the property). 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