If you transfer real estate as a gift, you will be subject to the gift tax. In some states, the information on this website may be considered a lawyer referral service. To complete the conveyance, you will need to transfer title to that property to the person taking over ownership. The Grantee does not need to sign the document. Courthouse Direct: What is a Deed of Conveyance? 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. 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 … Note: Arizona is a community property state. You … Property acquired by a husband and wife is presumed to be community property unless legally specified otherwise. Once the transfer is complete, no paper title is printed. Access a form online or from an attorney or make your own with the required information. The deed title is the official ownership record maintained at the county recorder's office. Please see the steps and tips below when considering purchasing or reselling a mobile home in the state of Arizona. This means the currency that changed hands for the purchase of the property. Trust Title of Deed . 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. Our ARIZONA QUITCLAIM DEED may be used legally to transfer Arizona real property rights to another person or legal entity. Legal Beagle: How to Find a Legal Property Description, US Legal Forms: Arizona Real Estate Deeds Gifts. It's frequently done by married and unmarried couples who don't want their house to have to pass through probate. This article covers the difference between the two types of deeds and the process for filing them. The grantor is the current owner and the grantee is the acquiring party. This unique tool overcame the conundrum of how to simply pass real estate property to a person without elaborate estate planning, without probate proceedings, and without creating a present ownership interest in the real property. If an exemption is being claimed, the exemption code needs to be listed on the face of the deed. There are different deed forms depending on the type of transfer required. Neither spouse, acting individually, may transfer or encumber real 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. Enter the full legal name of the Grantee or new owner in the same way. In the case of a gift, enter the cost of recording the deed. 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). Arizona requires buyers and sellers of real property to submit this with all real estate recordings if necessary. For example, two or more person can take title to real estate as tenants in common with the percentage ownership interest of each person being separate and distinct -- … To be valid, each deed must meet the requirements of Arizona law. 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. 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 deed recorded to show transfer of real property as a gift where no money changes hands. Parties need not be married; may be more than two … You must record the original, signed and notarized document to the Maricopa County Recorder's Office. Step 1. Joint Tenancy with the Right of Survivorship, Community Property with the Right of Survivorship. 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. 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. ​Read More:​ Legal Risks to Signing an Interspousal Transfer Deed. Copyright ©2020 MH Sub I, LLC dba Nolo ® Self-help services may not be permitted in all states. . ​Read More:​ How to Transfer a Property Deed in Arizona. Copyright 2020 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. BOTH of our names are on the deed. Two or more individuals purchasing a property together, … When you buy a vehicle, Arizona law requires that you apply for a title. The information provided on this site is not legal advice, does not constitute a lawyer referral service, and no attorney-client or confidential relationship is or will be formed by use of the site. Real Estate Deed Transfers to a Revocable Trust. 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. The reasons for transferring a title or changing the name on a property title deed vary widely. 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. His parents gave $10,000 towards the down payment. Title could involve a right of survivorship or revocable trust. Legal Beagle: How Do I Give My Son My House As a Gift? Name yourself and your wife as the grantees. A deed allows the current owners (grantors) to transfer property to new owners (grantees).  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. (link is external) within 15 days of purchase. If you do not have the deed, obtain a copy from the Maricopa County recorder's office. Get Started on AZ MVD Now. 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. Often times this paper title needs to be protected and kept in a safe place away from thieves. 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.. If you’re paying a mortgage, get your lender’s written permission to transfer your house title, and if your house is a major asset, consult an estate attorney regarding potential estate issues. Obtain the correct deed transfer document. Use a quitclaim deed to transfer your real estate title into your trust. 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. Online legal document centers, such as LegalZoom, offer deed transfer services for around $250, plus filing fees. Enter Full Legal Names of All Parties. This point is often confusing because many people believe that property should be held in the name of the trust. 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. Getting the title to a property as directed by the wishes of the deceased, or by the probate court if there is no will, may qualify as a transfer of ownership according to state guidelines. Nothing on this website should be considered a substitute for the advice of an attorney. 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. 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. 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. 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. Another tax implication will be on your federal income taxes. Please reference the Terms of Use and the Supplemental Terms for specific information related to your state.   These are sometimes established in an attempt to reduce taxes on the estate in the event of death. The forms needed to execute a change of name in Arizona may vary depending on the county in which you reside. Continue reading below for complete instructions on auto title transfers. Completing the Arizona car title transfer procedure is a mandatory step when the vehicle changes ownership from one legal entity to another. Since you want to remain on the deed, you'll need to also be a grantee, or receiving party. A deed of conveyance recorded at the Maricopa County Recorder's Office legally changes owner's names on real property. Typically set up for estate planning purposes, revocable trusts don't take full effect until they are funded. No matter the reason for your wanting or needing to change the title of your property, you have many options under Arizona property law as to how to hold property. If you have any questions, please reach out to us on our contact us page. Using a Quitclaim Deed Obtain the form deed from the recorder or register of deeds in the county … * For documents that evidence a transfer of real property, an affidavit of property value form needs to accompany the document. SUMMARY: How to Change Your Name in Arizona. The legal description will be on the current title deed. Usually, you can do this with a simple quitclaim deed. A quitclaim deed is used to relinquish interest by an owner, perhaps in a short sale. It is important to recognize that after a name change, you are still the same person. She will require picture identification and may ask you if you are sure you are signing of your own free will. 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. 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. Your use of this website constitutes acceptance of the Terms of Use, Supplemental Terms, Privacy Policy and Cookie Policy. A deed is a common vehicle for transferring title of a home. Contact Your Lender. Once a deed is recorded it cannot be changed. To change, add or remove a name on your deed a new deed needs to be recorded reflecting the change. they are offering me only $1500 for the house to sign my name off the deed. To transfer titles for bank accounts and investments held in joint tenancy, you need to follow the financial institution's instructions. General Warranty Deed Form – Provides a full warranty of title that gives the most protection to the grantee. Transferring a real estate title to an LLC doesn’t transfer the mortgage. Use a quitclaim deed to transfer your real estate title into your trust. To change the title on a deed, you must record a new deed with the county recorder’s office. The first requirement for nearly any real estate deed is that it must be in writing. In Arizona, a deed of conveyance costs $15 to record with additional fees for items such as affidavits and mortgage deeds. The following are deeds that are used for transfer of real property in Arizona: Arizona Deed Transfer These requirements may involve filing an Affidavit of Survivorship and a certified copy of the deceased owner's death certificate with the county recorder's office or registrar of titles. Arizona Quitclaim Deed Our ARIZONA QUITCLAIM DEED may be used legally to transfer Arizona real property rights to another person or legal entity. Completing the Arizona car title transfer procedure is a mandatory step when the vehicle changes ownership from one legal entity to another. Your question may be answered by contacting a title company and/or by consulting an attorney. Include marital status, for example, "Jon Doe, a single man" or "John Doe and Mary Doe, husband and wife." How do I Give My Son My house as a gift where no money changes.! Duplicate title a home with your spouse, then you might want to remain the... 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