Fill and Sign the Life Estate Deed 497297048 Form

© 2016 - U.S. Legal Forms, Inc.       ARIZONA LIFE ESTATE DEED [Husband and Wife and Husband and Wife / Four (4) Individuals to an Individual] Control Number: AZ-065-78 I. TIPS ON COMPLETING THE FORMS The 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. Note on Filing Forms: There must be appended to the deed an affidavit stating the value of the property, names and addresses of the buyers and sellers, the purchase price, type of payment and financing, the value of any personal property included in the sale, the tax code numbers, and a description of the real estate and its use. The Form and Instructions for completing the Affidavit of Property Value are available at: http://www.azdor.gov/Forms/Property.aspx LIST OF EXEMPTION CODES (A.R.S. § 11-1134) A1. A deed that represents the payment in full or forfeiture of a recorded contract for the sale of real property. A2. A lease or easement on real property, regardless of the length of the term. A3. Sales to or from government: “A deed, patent or contract for the sale or transfer of real property in which an agency or representative of the United States , this state, a county, city or town of this state or any political subdivision of this state is the named grantor, and authorized seller, or purchaser.” A4. A quitclaim deed to quiet title as described in A.R.S. § 12-1103, subsection B. A5. A conveyance of real property that is executed pursuant to a court order. A6. A deed to an unpatented mining claim. A7. A deed of gift. B1. A transfer solely in order to provide or release security for a debt or obligation, including a trustee’s deed pursuant to power of sale under a deed of trust. B2. A transfer that confi rms or corrects a deed that was previously recorded. B3. A transfer between husband and wife, or parent and child with only nominal actual consideration for the transfer. B4. A transfer of title on a sale for delinquent taxes or assessments. B5. A transfer of title on partition. B6. A transfer of title pursuant to a merger of corporations. B7. A transfer by a subsidiary corporation to its parent corporation for no consideration or nominal consideration or in sole consideration for canceling or surrendering the subsidiary’s stock. B8. A transfer from a person to a trustee or from a trustee to a trust benefi ciary with only nominal consideration for the transfer. B9. A transfer of title to and from an intermediary for the purpose of creating a joint tenancy estate or some other form of ownership. B10. A transfer from a husband and wife or one of them to both husband and wife to create an estate in community property with right of survivorship. B11. A transfer from two or more persons to themselves to create an estate in joint tenancy with right of survivorship. B12. A transfer pursuant to a beneficiary deed with only nominal actual consideration for the transfer. III. 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 above b. Joint Tenants with the Right of Survivorship – See above c. 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 ,” IV. DISCLAIMER These 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. Recorded at the Request of:       When Recorded, return to:                         Exempt from the affidavit and fee requirements per A.R.S. § 11-1134 – Exemption Code       Life Estate Deed For good and valuable consideration, receipt of which is hereby acknowledged, GRANTORS:       and       , husband and wife , and       and       , husband and wife , GRANT AND CONVEY TO GRANTEE:       , a life estate for the term of his natural life in the following described real property situated in       County, Arizona: See Legal Description Attached as Exhibit A incorporated by reference as though set forth in full Legal Description:       DERIVATION OF TITLE : This being the same property conveyed to Grantors by Warranty Deed dated       and recorded       (date) in the Office of the Recorder for       County at Docket       , Page       , Recording No.       . SUBJECT TO: Current taxes, assessments, reservations in patents and all easements, rights of way, encumbrances, liens, covenants, conditions and restrictions as may appear of record, and any further items set forth on Exhibit B attached hereto and incorporated herein by reference as though set forth in full. Life Estate Deed Page 1 of 4 AND THE SAID Grantors will warrant and forever defend the right and title to the above described property interest unto the said Grantee against the claims of all persons whomsoever, subject to the matters set forth above. IN WITNESS WHEREOF , Grantors have executed the above instrument on the day and year set forth below . Date:       Date:       (Grantor’s Signature) (Grantor’s Signature)             Print Name Print Name State of Arizona , County of       Date of Acknowledgment:       This instrument was acknowledged before me this date by       . Notary Public My commission expires:       State of Arizona , County of       Date of Acknowledgment:       This instrument was acknowledged before me this date by       . Notary Public My commission expires:       /// /// /// /// Life Estate Deed Page 2 of 4 Date:       Date:       (Grantor’s Signature) (Grantor’s Signature)             Print Name Print Name State of Arizona , County of       Date of Acknowledgment:       This instrument was acknowledged before me this date by       . Notary Public My commission expires:       State of Arizona , County of       Date of Acknowledgment:       This instrument was acknowledged before me this date by       . Notary Public My commission expires:       Life Estate Deed Page 3 of 4 Names and address of the Grantors: Name and address of Grantors: Name:       Address:       City/State/Zip:       Name:       Address:       City/State/Zip:       Name:       Address:       City/State/Zip:       Name:       Address:       City/State/Zip:       Name and address of Grantee: Name:       Address:       City/State/Zip:       Life Estate Deed Page 4 of 4 EXHIBIT A Grantors:                         Grantee:       Legal Description:       Life Estate Deed Exhibit A EXHIBIT B (Title Exceptions)       Life Estate Deed Exhibit B