As discussed in How to Avoid Probate, the key to avoiding probate is to arrange your assets so assets so everything you own either passes automatically to someone at your death or can be transferred without court involvement. Like many western states, Arizona allows legally married couples to own real estate as community property, with or without rights of survivorship. Joint tenants with right of survivorship is a type of joint property ownership affording co-owners the right to a share of property upon death. When one joint tenant dies, the others receive his share. A right of survivorship feature can go hand-in-hand with joint account ownership, but it does not necessarily need to. Grantee: includes every person to whom an estate or interest in real property passes, in or by a deed.. See Arizona Laws 1 MAY 9, 2016 VOLUME 23 NUMBER 18 First, a short primer on “joint tenancy with right of survivorship”: In Arizona, there are two main ways that two or more people can own property together (assuming they are not married). 33-431. Grants and devises to two or more persons; estates in common; community property with right of survivorship; joint tenants with right of survivorship. Arizona offers several options when it comes to real estate titles for more than one owner. If there are more than two joint tenants, the recordation of the affidavit shall extinguish only the joint tenancy and survivorship right of the person who executes the affidavit, and the joint tenancy and survivorship right shall continue among all remaining joint tenants who have not executed an affidavit of termination. A grant or devise to two or more persons may by express words vest the estate in the survivor on the death of a grantee or devisee when expressly declared in the grant, transfer or devise to be a joint tenancy with right of survivorship. Free Newsletters If there are more than two joint tenants, the recordation of the affidavit shall extinguish only the joint tenancy and survivorship right of the person who executes the affidavit, and the joint tenancy and survivorship right shall continue among all remaining joint tenants who have not executed an affidavit of termination. New Arizona Limited Liability Company Act (ALLCA) Section 29-3401.E provides that two or more natural persons may own an LLC membership interest as joint tenants with right of survivorship and a married couple may own an LLC membership interest as community property with right of survivorship. Joint Tenancy With Survivorship Joint tenancy with rights of survivorship (JTWROS) is a type of account that is owned by at least two people. A. Joint tenancy with right of survivorship is one of the most popular ways to arrange estate planning because it typically helps avoids the probate system. LawServer is for purposes of information only and is no substitute for legal advice. In Arizona, property law is governed by ARS Title 33.Joint or community property is covered in ARS 33-431. Parties need not be married; may be more than two joint tenants. Our Tempe… An attached death certificate of the deceased joint tenant. Joint Tenancy With The Right of Survivorship Two or more persons may hold title to real property as joint tenants with the right of survivorship. Disclaimer: These codes may not be the most recent version. 2013), View Previous Versions of the Arizona Revised Statutes. Right of Survivorship One of the main differences between the two types of shared ownership is what happens to the property when one of the owners dies. The recordation shall not extinguish the community interest of either spouse. Arizona may have more current or accurate information. An estate in joint tenancy with right of survivorship may also be created by grant or transfer from a sole owner to himself and others, or from two or more owners to themselves or to one or more of them and others. An estate in joint tenancy with right of survivorship may also be created by grant or transfer from a sole owner to himself and others, or from two or more owners to themselves or to one or more of them and others. An attached death certificate of the deceased joint tenant. E. In the case of real property owned as joint tenants with right of survivorship, the right of survivorship is extinguished as provided in section 14-2804 or on the recordation in the office of the recorder of the county or counties where the real property is located an affidavit entitled " affidavit terminating right of survivorship" executed by any joint tenant under oath that sets forth a stated intent by that joint tenant to terminate the survivorship right, a description of the instrument by which the right of survivorship was created including the date the instrument was recorded and the county recorder's book and page or instrument reference number and the legal description of the real property affected by the affidavit. A. Once a joint tenant sells his share, this ends the joint tenancy ownership involving ACCEPTANCE OF JOINT TENANTS WITH RIGHT OF SURVIVORSHIP , each being duly sworn upon oath for himself or herself and jointly but not one for the other deposes and says: That I am one of the Grantees named in that certain deed which is Dated and executed by , The right of survivorship is an important legal right that allows those who co-own assets to retain it in the event of one co-owner's death. However, any people can be joint tenants if they are happy with the consequences of this right to survivorship. California Codes > Civil Code > Division 2 > Part 2 - REAL OR IMMOVABLE PROPERTY, Florida Statutes > Chapter 689 - Conveyances of Land and Declarations of Trust, Florida Statutes > Chapter 695 - Record of Conveyances of Real Estate, Florida Statutes > Chapter 696 - Record of Contracts; Photographic Recording, Florida Statutes > Chapter 697 - Instruments Deemed Mortgages and the Nature of a Mortgage, Florida Statutes > Chapter 70 - Relief From Burdens On Real Property Rights, Illinois Compiled Statutes 765 ILCS 77/1 - Short title, Illinois Compiled Statutes 765 ILCS 77/5 - Definitions, Illinois Compiled Statutes > 210 ILCS 115 - Mobile Home Park Act, Illinois Compiled Statutes > 210 ILCS 120 - Illinois Mobile Home Tiedown Act, Illinois Compiled Statutes > Chapter 765 > Real Property, Texas Business and Commerce Code Chapter 21A - Execution of Deeds in Certain Transactions Involving Residential Real Estate, Texas Business and Commerce Code Chapter 22 - Public Sale of Residential Real Property Under Power of Sale, Texas Property Code > Title 11 - Restrictive Covenants, Texas Property Code Chapter 221 - Texas Timeshare Act. 2. One choice is for the owners to be “tenants … D. In the case of real property owned by a husband and wife as community property with right of survivorship, the right of survivorship is extinguished as provided in section 14-2804 or on the recordation in the office of the recorder of the county or counties where the real property is located an affidavit entitled " affidavit terminating right of survivorship" executed by either spouse under oath that sets forth a stated intent by the spouse to terminate the survivorship right, a description of the instrument by which the right of survivorship was created including the date the instrument was recorded and the county recorder's book and page or instrument reference number and the legal description of the real property affected by the affidavit. B. C. 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