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© 2016 - U.S. Legal Forms, Inc. ARIZONA BENEFICIARY DEED (a.k.a. Transfer on Death Deed) [Two Individuals / Husband and Wife to Two Individuals / Husband and Wife] Control Number: AZ-040-77 I. TIPS ON COMPLETING THE FORMSThe form(s) in this packet may contain “form fields” created using Microsoft Word or Adobe Acrobat (“.pdf” format). “Form fields” facilitate completion of the forms using your computer. They do not limit your ability to print the form “in blank” and complete with a typewriter or by hand.It is also helpful to be able to see the location of the form fields. Go to the View menu, click on Toolbars, and then select Forms. This will open the Forms toolbar. Look for the button on the Forms toolbar that resembles a shaded letter “a”. Click this button and the form fields will be visible. By clicking on the appropriate form field, you will be able to enter the needed information. In some instances, the form field and the line will disappear after information is entered. In other cases, it will not. The form was created to function in this manner.II. DESIGNATING HOW THE GRANTEES WILL HOLD THE PROPERTY:A.In the State of Arizona, real property can be held by more than one person (concurrent estates) in the following ways:1. If the Grantees ARE NOT married to each other, they can hold the property as:a. Tenants in Common: a type of concurrent estate in which each party owns an undivided interest in the property that will pass to their heirs when the tenant in common dies. Generally their shares are “equal” but may differ in size. b. Joint Tenants with the Right of Survivorship (JTWROS): is a type of concurrent estate in which co-owners have a right of survivorship, meaning that if one owner dies, that owner's interest in the property will pass to the surviving owner or owners by operation of law, and avoiding probate.2. If the Grantees ARE married to each other, they can hold the property as:a. Tenants in Common – See aboveb. Joint Tenants with the Right of Survivorship – See abovec. Community Property - a form of joint ownership of property between married individuals. When a married co-owner dies their share goes to their heirs as provided in their will or the laws of intestacy.d. Community Property with the right of survivorship - a form of joint ownership of property between married individuals. When a married co- owner dies their share goes to the surviving spouse.3.In the attached deed, the preparer will need to indicate how the Grantees will hold the property: as Tenants in Common; Joint Tenants with Right of Survivorship; community property or community property with the right of survivorship.B. For additional information on the above see the definitions at:http://lawdigest.uslegal.com/C.For example: “as Tenants in Common ,”III. DISCLAIMERThese materials were developed by U.S. Legal Forms, Inc. based upon statutes and forms for the State of Arizona. All information and Forms are subject to this Disclaimer: All forms in this package are provided without any warranty, express or implied, as to their legal effect and completeness. Please use at your own risk. If you have a serious legal problem, we suggest that you consult an attorney in your state. U.S. Legal Forms, Inc. does not provide legal advice. The products offered by U.S. Legal Forms (USLF) are not a substitute for the advice of an attorney.THESE MATERIALS ARE PROVIDED “AS IS” WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND INCLUDING WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OF INTELLECTUAL PROPERTY, OR FITNESS FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL U.S. LEGAL FORMS, INC. OR ITS AGENTS OR OFFICERS BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OR PROFITS, BUSINESS INTERRUPTION, LOSS OF INFORMATION) ARISING OUT OF THE USE OF OR INABILITY TO USE THE MATERIALS, EVEN IF U.S. LEGAL FORMS, INC. HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. Beneficiary Deed Page 1 of 2Prepared by: After Recording, Return to: BENEFICIARY DEED (Two Individuals / Husband and Wife to Two Individuals / Husband and Wife) GRANTORS: and , Husband and Wife, do hereby CONVEY untoGRANTEES: , whose mailing address is , and , whose mailing address is ,individuals, as tenants in common ,effective upon our deaths, the following lands and property, together with all improvements located thereon, lying in the County of , State of Arizona, to-wit: See Legal Description Attached as Exhibit A incorporated by reference as though set forth in full Legal Description: Beneficiary Deed Page 2 of 2If any Grantee Beneficiary precedes us in death, then (choose one)a. the conveyance to that Grantee Beneficiary shall become null and void and the entire estate shall pass equally to the surviving Grantee Beneficiary at the time of our death. b. the conveyance to that Grantee Beneficiary shall become part of the estate of the Grantee Beneficiary. Prior document reference: Book _ _____ , P ag e _ _____ , D ocu m en t N o. _ _____ , o f t h e R eco rd er o f ______________________ County, Arizona.IN WITNESS WHEREOF, Grantors have executed this Beneficiary Deed on the day and year set forth below.Date: Grantor Type or Print NameState of Arizona, County of The foregoing instrument was acknowledged before me this day of , 20 , by . Notary Public My Commission Expires: Print or Type Name Date: Grantor Type or Print NameState of Arizona, County of The foregoing instrument was acknowledged before me this day of , 20 , by . Notary Public My Commission Expires: Print or Type Name Exhibit A EXHIBIT A Grantors: Grantees: Legal Description: