Ownership of real property, land and the structures erected thereon,
is evidenced
by means of the deeds of transfer which are recorded in the recorder's
office of the jurisdiction in which the property is located. In Maricopa
County, Arizona that office is the Maricopa County Recorder's office.
In this office, a record is retained of all transactions affecting
the ownership to property within Maricopa County.
Although there are a number of legal instruments which can affect
the ownership and quality of ownership of a particular parcel of real
property, the primary means by which property ownership is transferred
from one person, or entity, to another is by means of the deed.
A deed is a form of document authorized by law by which the real
property owner may convey said property, or an interest therein, to
another party. This document must contain the legal description of
the property and identity both the transferor and the transferee.
The law requires that the marital status of individual parties is
set forth. The transferor must always sign the deed and their signature
must be acknowledged by a notary. If the transferees are taking ownership
by "rights of survivorship" they must so indicate on the
deed and sign the deed as well.
There are number of different types of deed recognized by law for
the transfer of real property interests. In purchasing property, the
purchaser usually demands a "Warranty Deed" in which the
seller warrants the quality of title which he is conveying. A "Quit
Claim Deed", on the other hand, does not have such a warranty.
Most purchasers of property in Arizona have the purchase transaction
handled by an escrow company which for a fee provides the purchase
with a Policy of Title Insurance.
Most transfers of property convey a full ownership interest. Some
transfers are, however, limited to the lifetime of the transferee,
a period of time, or may be subject to other conditions. Some transfers
will convey a right to occupy the property but reserve certain interests
such as mineral rights.
Some transfers of property may be accomplished by means other than
by deed. Ownership may be transferred pursuant to court order such
as in a "Partition" or "Quite Title" action. Ownership
may be transferred to mortgage holder or entity having a beneficial
interest in a deed of trust against the property pursuant to a judicial
foreclosure action or a non-judicial trustee's sale. Property may,
additionally, be sold by a sheriff pursuant to Writ Of Execution issued
on behalf of a judgment creditor.
As you can see the means by which property can be conveyed and
the quality of the conveyance varies substantially. The process and
the outcome depends a lot upon the status and interest of the parties
involved. You can, through the Lawvue Law Store, obtain certain Quit
claim deeds to be used in the course of domestic relations proceedings
and the funding of Living Trusts. The Lawvue Law Store, also, provides
deeds for the purpose of transferring property into Joint Tenancy
With Right Of Survivorship. If, however, you have needs or questions
which go beyond these routine property transfers, it is advisable
that you seek personal legal consultation from an attorney. The attorneys
of Bill King, P.C. have experience in these type of matters and are
available to you for consultation.
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