Published January 15, 2021

Chris Combs On Advantages to Beneficiary Deeds in Arizona

Written by Shanna Day Team

Chris Combs On Advantages to Beneficiary Deeds in Arizona header image.

From the advice of one of our preferred Attorneys, Mr. Chris Combs of Combs, Gottlieb & MacQueen, P.C.:

Question: In a recent article you had the opportunity to notify readers of the availability and advantages of a beneficiary deed, but you blew it by only adding it as an afterthought. You were addressing property in California and Montana also, which may not have the beneficiary deed option. I urge you to submit a follow-up article on the advantages and costs of a beneficiary deed for owners of real property in Arizona.

Answer: Thank you for your comments. First, the advantages of a beneficiary deed are that real property can be transferred after death without probate, and a beneficiary deed can be revoked at any time prior to death, e.g., you can record a beneficiary deed of your home to your son, but if your son later gets into gangs and drugs, you can record a revocation deed. The only cost of a beneficiary deed, or a revocation deed, is the ounty recorder's fee. The Arizona beneficiary deed statutes even have sample forms for both a beneficiary deed and a revocation deed. A.R.S. §33-405(K and L). Second, a beneficiary deed (known in California as a "Transfer on Death Deed") recorded in California would transfer the rental home, California Probate Code §5642; and a beneficiary deed recorded in Montana would transfer the 160 acres of land in Montana, MCA 72-6-121.

Note: Read the full article here.

Click here to view Chris' profile