Phone: (623)693-6509
Fax: (623)218-9055
Ways to Take Title in Arizona
Title to real property in Arizona may be held by a single individual or entity, known as Sole Ownership; or by two or more individuals and/or entities known as Co-Ownership. Following is a list of all of the ways to take title in our state:

Joint Tenancy with the Right of Survivorship

Ownership by two or more persons, who may or may not be married. Each joint tenant holds an equal and undivided interest in the property. One of the joint tenants may partition the property by selling his or her joint interest. Selling the entire property requires signatures of all joint tenants. Upon death of one joint tenant, the estate passes to the surviving tenant and no court action is required. Evidence of the intent of a married couple to hold title to real property as Joint Tenants with the Right of Survivorship must be in writing to avoid the presumption of Community Property.

Community Property

Requires a valid marriage between two persons. Each spouse holds an undivided one-half interest in the property. One spouse cannot partition the property by selling his or her interest. Selling or encumbering the property requires signatures of each spouse. Each spouse may devise (or will) their one-half interest in the property. Upon death, the estate of the decedent must be cleared through probate. Property acquired by a spouse during marriage is presumed to be community property except that property acquired by gift, device or descent. A married couple seeking to hold title to real property located in Arizona in a form other then Community Property may do so by renouncing the community property form and specifically accepting another form of co-tenancy.

Community Property with Right Of Survivorship

Requires a valid marriage between two persons. Each spouse holds an undivided one-half interest in the property. One spouse cannot partition the property by selling his or her interest. Selling or encumbering the property requires signatures of each spouse. Upon death of one spouse, the estate passes to the surviving spouse outside of probate. Again, evidence of the intent of married couples to hold title to real property as Community Property with the Right of Survivorship must be in writing in order to avoid the presumption of Community Property. If a married couple holds this form of title to real property and decides to dissolve their marriage, the property automatically converts to Tenancy in Common.

Tenancy in Common

Ownership by two or more persons, who may or may not be married. Each tenant in common holds an undivided fractional interest in the property. This interest can be disproportionate (i.e. 20% and 80%; 50%, 30% and 20%; etc.) Each tenant’s share can be conveyed, mortgaged or devised to a third party without written permission from other owners. Each tenant in common may will their fractional interest to another person, and upon death, this must be cleared through probate.

Sole and Separate

Real property owned by a single person; or by a spouse before marriage or acquired after marriage by gift, descent or specific intent. If a married person acquires title as sole and separate property, his or her spouse must execute a disclaimer deed.

General Partnership

Title may be taken in the name of a general partnership duly formed under the laws of the state of Arizona. A partnership is defined as a voluntary association of two or more persons as co-owners in a business for profit.

Limited Partnership

Title may be taken in the name of a Limited Partnership duly formed under the laws of the state of Arizona or another state and having a Certificate of Limited Partnership recorded in the Office of the Secretary of State in Arizona. A limited partnership constitutes a partnership having one or more general partners and one or more limited partners.

Corporation

Title may be taken in the name of a Corporation provided that the corporation is duly formed and in good standing in the state in which it is incorporated.

Beneficiary Deed

The beneficiary deed is the newest form of conveying property in our state. This type of deed allows the owner to specify to whom the property will pass after his or her death. A beneficiary deed can name any number of beneficiaries and can pass title to real property under any form recognized by Arizona law. In addition, a beneficiary deed can contain a combination of multiple and successor beneficiaries, and can even be used to transfer property in to a trust. The main purpose in its creation was to be an effective means by which the property can be passed, after the current owner’s death, without the need and additional expense of probate.

Trust

The legal title to real property is held by a trustee who may be an individual, an entity or both. The trustee manages the property for the benefit of others called beneficiaries.
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Realty One Group
Realty One Group
7975 N. Hayden Road Suite 101A • Scottsdale, AZ 85258
Phone: (623)693-6509 • Fax: (623)218-9055



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