Question: We purchased a home in Chandler for our daughter and her two children. Both the title to the home and the mortgage loan are in our names. Our daughter is not financially savvy, so we do not want to transfer the title to the home to her now. Other than this home, we have few other assets. Is there a way we can make sure the title of the home gets transfered to our daughter after we pass away?
Answer: I would suggest that you execute and record a beneficiary deed transferring the home to your daughter after you both pass away. A.R.S. § 33-405 authorizes the use of a beneficiary deed, and even provides the form for a beneficiary deed. You should be able to complete this form, and then record the beneficiary deed with the Maricopa County Recorder’s Office. If you have any questions, you should contact an Arizona real estate law attorney.
A.R.S. Section 33-405 also has a form for a revocation of a beneficiary deed. If you change your mind about your daughter getting the home, you can complete and record this form. clgz05