Community Property

Arizona is a community property state. There is a statutory presumption that all property acquired by husband and wife is community property. Community property is a method of co-ownership for married persons only. Upon the death of one of the spouses, the deceased spouse's interest will pass by either a will or intestate succession.

Joint Tenancy with Right of Survivorship

Joint Tenancy is a method of co-ownership that gives title to the real property to the last survivor. Title to real property can be acquired by two or more individuals. If a married couple acquires title as joint tenants with the right of survivorship, they must specifically accept the joint tenancy to avoid the presumption of community property.

Community Property with Right of Survivorship

This form of property ownership allows a married couple the ability to hold as husband and wife AND provides for succession outside of probate in the event of the death of either spouse. This form of vesting was enacted during the 1995 Legislative Session and became effective retroactive to January 1, 1995. A.R.S. § 33-431.

Tenancy in Common

A method of co-ownership where parties do not have survivorship rights and each owns a specific undivided interest in the entire title.

Sole and Separate

Real Property owned by a spouse before marriage or any acquired after marriage by gift, devise, descent or specific intent. If a married person acquires title as sole and separate property, his/her spouse must execute a disclaimer deed.

Corporation

Title may be taken in the name of a corporation provided that the corporation is duly formed and in good standing in the state of its incorporation.

General Partnership

Title may be taken in the name of a general partnership duly formed under the laws of the state of the formation of the partnership. A partnership is defined as a voluntary association of two or more persons as co-owners in a business for profit.

Limited Partnership

A partnership formed by two or more persons under the laws of Arizona or another state and having one or more general partners and one or more limited partners. A certificate of limited partnership must be filed in the Office of the Secretary of State, a certified copy of which must be recorded.