Rotate Legal Arizona Deed Of Trust Forms For Free

Many people are familiar with the popular term ?mortgage? as it pertains to an agreement between a borrower and a lender. However, deeds of trusts are far more common than mortgages. In Arizona, property loans are secured by deeds of trusts.

Other states, such as our home state of Massachusetts, use mortgages rather than deeds of trust. Is there an Arizona law that only deeds of trust must be used? Answer: No. Arizona law provides for mortgages, and since 1971 Arizona law also provides for deeds of trust.

Some irrevocable trusts include clauses that allow modifications to be made at the discretion of the beneficiary (see ARS 14-10411 for Arizona), but only if the proper clauses were included in the trust documents. Generally, it is extremely difficult?if not impossible?to alter an irrevocable trust.

Assets transferred by a grantor to an irrevocable trusts are generally not part of the grantor's taxable estate for the purposes of the estate tax. This means that the assets will pass to the beneficiaries without being subject to estate tax.

To transfer real property into your Trust, a new deed reflecting the name of the Trust must be executed, notarized and recorded with the County Recorder in the County where the property is located. Care must be taken that the exact legal description in the existing deed appears on the new deed.

To create a living trust in Arizona you need to create a trust document that lays out all the details of your trust and names the trustee and beneficiaries. You will sign the document in front of a notary.