In Arizona, a beneficiary deed allows property to be transferred to someone else automatically when the current owner dies. Some homeowners use a beneficiary deed to bypass probate. The homeowner keeps control of the property, including the ability to sell or refinance the property even if they have recorded a beneficiary deed. Beneficiary deeds are revocable. In other words, the homeowner can change their mind after recording a beneficiary deed as long as they still own the property and record a new deed. Beneficiary deeds can be recorded for property even if there is a secured debt or lien on the property. The grantee of a beneficiary deed does not have any rights to the property until and unless the record owner of the property passes away.

Read More