When using a warranty deed, the seller guarantees that the property has no liens against it and the seller holds full ownership, giving them the legal right to transfer it. This type of deed provides protection to the buyer in the form of a warranty by the seller, ensuring there are no issues with the title.
What is community property with right of survivorship in Arizona?
Community property with the right of survivorship is an agreement where, after the death of a spouse, ownership of the property that is jointly owned by both spouses automatically passes to the other spouse. The property or asset therefore avoids probate completely.
What does community property with right of survivorship mean in Arizona?
Community property with right of survivorship (CPWROS) is an arrangement in which a surviving spouse inherits marital property immediately upon their spouses death without passing that property through probate. The arrangement also presents opportunities for tax savings.
What are the disadvantages of community property with a right of survivorship?
In Arizona, your surviving spouse will automatically inherit your half of the community property if you have no descendants or if you have descendantschildren, grandchildren, or great-grandchildrenresulting only from your relationship with your surviving spouse.
What is the difference between a warranty deed and a special warranty deed in Arizona?
Unlike a general warranty deed, a special warranty deed doesnt cover title claims over the propertys entire history. It only guarantees against title issues that occurred when the seller owned the home.
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Acceptance of community property with right of survivorshipAffidavit of surviving joint tenant ArizonaRequirements for joint tenancy
A beneficiary deed may designate multiple grantees who take title as joint tenants with right of survivorship, tenants in common, a husband and wife as
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Joint Tenancy in Real PropertyThe Title Insurers Viewpoint
by HE Tully 1962 Cited by 2 Whereas joint tenancy with right of survivorship permits property to pass to the survivor without the cost or delay of probate proceedings, there shall be a.
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