How to Disclaim a Beneficiary Deed in Arizona

By Tom Streissguth

Since 2001, the state of Arizona has allowed property owners to sign and record a beneficiary deed conveying property directly to a named beneficiary upon the death of the grantor -- the property owner who signs the deed. The beneficiary deed allows a homeowner to pass property to his heirs without having to set up a trust or have the transfer go through probate. The property remains part of the estate and may be taxable as such, although it avoids gift taxes. In addition, anyone named as the beneficiary may disclaim it.

Disclaimer of Interest

If you wish to disclaim a beneficiary deed in which you are named the beneficiary, you must sign and have notarized a disclaimer of interest form. This is a standard form available from a court clerk, attorney's office or online from numerous websites providing legal templates and fillable forms.

Time Limits

According to Arizona law, the disclaimer document must be filed within nine months of the death of the grantor if the beneficiary deed was created as a "testamentory instrument" -- meaning as part of a last will and testament. If the beneficiary deed was created under different circumstances, the beneficiary must still file the disclaimer within nine months of whatever event allowed him to take legal title to the property. If you were not aware of the beneficiary deed's existence and later become aware of it, you have nine months to file the disclaimer from the date you received notice of the deed.

Protect your loved ones. Start My Estate Plan

Filing Requirements

Arizona requires the disclaimer to be filed in the county court where the probate case is taking place, or county where the estate is being administered if probate wasn't required. The beneficiary filing the disclaimer must provide it in person or by certified mail, with return receipt requested, to the personal representative of the deceased or executor of the will.

Disclosure

You must give the legal description of the property in the disclaimer. This legal description should be listed on the beneficiary deed. You must sign the disclaimer, have your signature witnessed or notarized and provide a copy to anyone else with an interest in the property, such as a mortgage lender. To ensure the disclaimer is legally recorded, you must provide a copy to the county recorder's office where the property is located. Once you file a disclaimer of interest, you may not revoke it. In addition, you cannot file a disclaimer if you have taken any benefit from the property, such as rent, or taken possession of the property.

Protect your loved ones. Start My Estate Plan
How to Transfer Property to an Irrevocable Trust in Pennsylvania
 

References

Related articles

How to Add Assets to a Living Trust

A trust allows you to place your assets under the control of a trustee you select, for eventual distribution to the trust beneficiaries. A trust is useless, however, until you transfer assets to it in accordance with appropriate legal procedures. If your trust is irrevocable, its assets are no longer yours -- they belong to the beneficiaries under the terms of the trust deed, even though legal title is vested in the trustee.

How to Write a Deed With Power of Attorney

A real estate deed is a document representing legal ownership of a parcel of real estate. To transfer ownership of real estate, a new deed must be drawn up in favor of the purchaser or grantee. Normally, the seller, or grantor, must sign the new deed to transfer ownership. However, it is possible for a third party to execute a valid signature on a real estate deed, as long as the seller, or grantor, has executed an appropriately-worded power of attorney authorizing an agent to do so.

How do I Change a Quit Claim Deed in New Hampshire After a Divorce is Final?

A quitclaim deed conveys title to New Hampshire real estate without the guarantees typically included in a warranty deed. Quitclaim deeds are often used to convey real estate between family members or in a New Hampshire divorce when one spouse relinquishes title to the other as part of a marital property settlement. Quitclaim deeds are fairly simple, but mistakes happen. A quitclaim deed may be changed or corrected in New Hampshire by executing a new, corrected deed.

LegalZoom. Legal help is here. Start Here. Wills. Trusts. Attorney help. Wills & Trusts

Related articles

What Happens if You Do Not Revoke a Beneficiary Deed?

A beneficiary deed allows the owner of property -- also known as the grantor -- to pass property directly to a ...

How to Prepare Your Own Will & Beneficiary Deed in Missouri

A will is a legal instrument that tells the probate court how to distribute your assets after you die. Because the ...

Declination of Interest in Wills

Wills generally describe how you want your assets to be distributed after your death by designating specific ...

Can a Property Owned by an Irrevocable Trust Be Foreclosed?

A living trust is an estate planning tool used to transfer property at death, allowing probate to be avoided. When you ...

Browse by category
Ready to Begin? GET STARTED