Arizona Small Estate Affidavit 3
Arizona Small Estate Affidavit 1
Arizona Small Estate Affidavit 2
Arizona Small Estate Affidavit 3
Arizona Small Estate Affidavit 1

Arizona Small Estate Affidavit

    Are you planning to distribute your small estate to your heirs in Arizona? If yes, using the Arizona Agreement of Small Estate Affidavit template can help you do all the legal work. This helps in legally transferring the deceased property by following the legal terms in the state. This easy-to-use and free template includes all the relevant details, including decedent and beneficiaries information and the entire property's worth. It’s free of cost and highly customizable. Download today/

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Arizona Small Estate Affidavit
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Arizona Small Estate Affidavit

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When you wish to transfer non-probate, small estate assets in Arizona, you may use the Arizona small estate affidavit. Learn more about this handy document on this page. Alternatively, you can check above if you want an Arizona small estate affidavit template.

The Arizona Agreement Of Small Estate Affidavit contains the following clauses.

  • Name and address of decedent
  • Names and addresses of distributes
  • Date of death
  • Description of assets
  • Description of debts
  • Signatures of distributees

What Is an Arizona Small Estate Affidavit?

When a person dies, their assets are distributed through the probate process. But when the value of the assets is below a certain threshold – $75,000 in Arizona – you can skip probate proceedings with the help of the small estate affidavit.

The small estate affidavit is a formal document that facilitates the distribution of assets to the heirs. You present it to a third party holding the decedent’s assets. They are then obligated to transfer the assets to you.

In Arizona, you must file the small estate affidavit if you’re attempting to collect real property at the probate registrar at the Superior Courthouse. This has to be at the decedent’s applicable jurisdiction.

Download Our Free Arizona Agreement Of Small Estate Affidavit Template

With a single click, you can access the agreement of the Arizona Agreement of f Small Estate Affidavit template for free and give their assets the worth of legal verification.

Go for it and download the template by pressing the Download Template button here

Arizona Small Estate Affidavit Requirements

You must follow the succession laws laid down in the Arizona state legislature – specifically the Arizona Revised Statute Ann § 14-3971.B and 14-3971.E.

Below is a summary of the major requirements:

  • At least 30 days have passed since the death of the decedent.
  • The value of the decedent’s personal property is $75,000 or less.
  • The assessed value of the real property is $100,000 or less – and 6 months have passed since the owner’s death.
  • You are the surviving spouse and want to use the Affidavit to Collect Personal Property to collect due wages of up to $5000.
  • You have a legal right to the property because you were named in the will or are a surviving direct family member such as surviving spouse, child, parent, or brother and sister.
  • Someone with an equal or greater right to the property (if applicable) has signed over their interests in the estate to you.
  • You must fill in the form with all the relevant details mentioned, file the document at the applicable office (in the case of real property), and then pay a filing fee.

Important Information on AZ Small Estate Affidavits

You will have to fill in slightly different forms depending on the property you are looking to transfer:

1. Transferring real estate – Affidavit for Succession to Real Property

When you want to transfer real estate, you file the Affidavit for Succession to Real Property in Arizona. The value of the real estate must be $100,000 or less by assessed value, which is different from the fair market value.

Usually, it is not a good idea to use this form because you have to wait 6 months before you can file it in. It is faster to use a simplified probate process instead.

2. Transferring cash accounts and cars

If you wish to transfer personal property that is not real estate, like cars and cash, you can use the Affidavit for Collection of Personal Property. In this case, you must wait for only 30 days to acquire control of the assets. You do not need to file this affidavit officially. You can present this document directly to a financial institution.

What Happens If the Property Has an Outstanding Mortgage?

Most mortgages have a “due-on-sale” clause that also applies to transfer by affidavit. That means when the ownership of the property transfers to someone else – like an heir – the mortgage becomes immediately due.

The lender may agree to probate proceedings if you contact them and make a request. But they are not obligated to do so. They may prefer the property is probated and the mortgage is refinanced.

Download Our Free Arizona Agreement Of Small Estate Affidavit Template

With a single click, you can access the agreement of the Arizona Agreement of f Small Estate Affidavit template for free and give their assets the worth of legal verification.

Go for it and download the template by pressing the Download Template button here

Conclusion

The small estate affidavit form in Arizona is a great time and money saver in most cases. When you’re unsure about any of the requirements, it’s a good idea to consult your attorney.

You can use our free Arizona small estate affidavit form template to formulate an appropriate document. CocoSign offers helpful resources, templates, and document creation tools for individual and business use.

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