Residential Count for 5/07/19 - Homes 466  Condos 46  Lots 340

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Sue Miller
Broker Associate
abr.sfr.rsps.bpor
Realty ONE Group Mountain Desert

1971 McCulloch Blvd.N #102
Lake Havasu City, AZ 86403
928-706-4783
www.FindYourHavasuHome.com

Home Buyer Tools

Examples of Title in Arizona

Community Property - Married couples only

Since Arizona is a community property state, by statute all property acquired by husband and wife is presumed to be community property unless stipulated other-wise. Community property ownership can apply to only married persons. The interest of a deceased spouse may pass either by will or by intestate succession.

Community Property with Right of Survivorship - Married couples

Community Property with Right of Survivorship - Co-ownership by husband and wife providing for the surviving spouse to retain full title after the death of the other spouse. Allows for a stepped up tax basis for capital gains taxes to a surviving spouse.

Joint Tenancy with Right of Survivorship - Multiple persons

Joint Tenancy - Method of co-ownership that gives title to the last surviving joint tenant.

Tenants in Common - Method of co-ownership where multiple persons/parties do not have survivorship rights and each owns a specific undivided interest in the entire title.

Sole and Separate - Married individuals only
Real property owned by a spouse prior to marriage or acquired after marriage by gift or devise, descent or specific intent. When a married person acquires title as sole and separate property, his/her spouse must execute a disclaimer deed.

Trust - For lending purposes.  Confirm with lender first.  Please provide name of trustees and name and date of the trust. A full and complete copy of the trust will be required if less than all of the original trustees will sign loan documents.

Unmarried - Divorced person

Single - Single person, never married

FOR MORE INFORMATION, YOU ARE ENCOURAGED TO CONTACT A PROFESSIONAL LEGAL TAX ADVISOR

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