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AZ HB2143
Bill
Status
4/11/2013
Primary Sponsor
Kate Brophy McGee
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AI Summary
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Amends Arizona Revised Statutes section 33-431 to allow joint tenants with right of survivorship to terminate survivorship rights by recording an affidavit in the county recorder's office.
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An affidavit terminating survivorship must include the joint tenant's stated intent to terminate, description of the original instrument creating the right of survivorship, and legal description of the affected property.
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If more than two joint tenants exist, recordation of a termination affidavit by one tenant extinguishes only that tenant's joint tenancy and survivorship rights, while the joint tenancy continues among remaining joint tenants.
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Allows surviving joint tenants to record a death certificate and affidavit in the county recorder's office to evidence termination of a deceased joint tenant's survivorship rights, including the deceased tenant's name, date of death, and cause of death.
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Makes corresponding corrections to statutory language regarding community property with right of survivorship affidavits (changing "upon" to "on" and "which" to "that").
Legislative Description
Joint tenancy severance
Last Action
Governor Signed
4/11/2013