If you co-own property with someone else as "tenants in common," you can sell your share of the property independently, and you can also leave just your share to someone at death. #2) Can One Spouse Sever a Joint Tenancy Without the Other’s Consent? In Australia, it’s possible for one spouse to unilaterally sever a joint tenancy through a process known as ‘unilateral severance. Upon death, the interest passes in accordance with either a will or the laws of intestacy. Community property is reserved for spouses, though both joint tenancy and community property offer shared ownership of real property. This means that the transfer of property from one party to another was ordered by the court. S. Learn why you should terminate them with experienced. 2004) defines dower as “a wife’s right, upon her husband’s death, to a life estate in one-third of the land that he owned. Tempe Arizona Agreement Converting Joint Tenancy Property into Community Property - Deed Obtain a template and reuse it as often as you need, or use US Legal Forms integrations with PDF modifying and electronic signing platforms to prepare the form. Separate property. Separate property includes all property that a spouse obtained before marriage, through inheritance, or as a gift. The most common ways for unmarried couples and domestic partners to hold title to co-owned real estate are as: Joint Tenants; Tenants in Common; Community Property; and. A joint tenancy can be created only by the intentional act conveying a deed or giving the property by Will, not implied or created by operation of law. property acquired by gift or inheritance by either spouse before, during, or after the marriage. Although as between themselves joint tenants have separate rights, as against everyone else they are in the position of a single owner. Under a Joint Tenancy the co-owners are effectively the full owners and own equal undivided shares in the property. Compare to Joint Tenants. Of the $400,000. Adam practices primarily in the areas of business and family-based immigration, trusts and estate planning, and business planning. gifts or inheritances that one spouse received, either before or during the marriage. Understanding Beneficiary Deeds. A surviving joint tenant automatically takes a deceased joint tenant's interest. ’Plaintiff avers by the same. Property acquired by either spouse during the course of a marriage is considered marital property. In Tennessee, special warranty deeds are statutory. There remains the more difficult question of the validity of this deed to create a joint tenancy in the plaintiff and his wife. There’s no need for those assets. Smith, Real Property Survey, page 114, West Publishing, 1956. Joint tenancy property passes outside of probate, however, it may be severed so that the property becomes part of one person's estate and passes to that person's heirs. Create Document. Arizona adopted a new form of title called. entire property is includable in that owner's gross estate. A joint tenant has an ownership interest in the property that is equal to the interest of the other joint tenants. Joint tenants must have equal ownership interests in the property. if you have "issue" (children, grandchildren, etc. Arizona adopted a new form of title called. Marital property covers money earned and property acquired after the marriage, in Pennsylvania. Tenancy in common is a form of joint ownership, where two or more individuals own an equal or unequal share of a property. The Long Answer. The disclaimer deed in that divorce was signed on a home purchased during an Arizona marriage. Five years ago, when his wife died, Edward became the sole owner of a home and three rental properties that the couple had owned in joint tenancy. However, exemption code A7 could also apply. In Kentucky, South Dakota, and. a single estate in the unit, not separate interests in the individual. Joint tenancy is sometimes called "joint tenancy with right of survivorship. Different forms of holding title among multiple owners have differing legal ramifications, especially upon the death of one or more of the co-owners. Ashley later sold it for $600,000. Download the form in the required format. Joint tenancy with the right of survivorship. The other children are. such as a change from joint tenancy to community property. Arizona cases have held that it may enforce such disclaimer deed, and thus recognize the property as sole and separate. tenants. Unity of Interest - all joint tenants hold an equal ownership interest 3. Can one spouse decide to reconvert the joint property to community property without the. Winters, 298 P. Each form must be signed by two witnesses. Avvo Rating: 6. Joint tenancy is an arrangement that allows beneficiaries to access your account without having to go to court. Note that a joint tenancy with rights of survivorship can be severed if one of the co-owners deeds all or part of that person’s ownership interest to another party, or puts it. 37 (Bankr. The words "with the right of survivorship" are not necessary for a valid joint tenancy deed, although they are often inserted. Joint tenancy is a form of ownership where both people share ownership equally. In estate law, joint tenancy is a special form of ownership by two or more persons of the same property. If you are a co-owner or a joint tenant of property owned as a joint tenancy, that property automatically passes at your death to the remaining joint tenants without the expense and delay of probate. § 33-431 - Grants and devises to two or more persons; estates in common; community property with right of survivorship; joint tenants with right of survivorship § 33-432 - Presumption of intention to convey fee § 33-433 - Effect of alienation purporting to pass greater right than possessed by person making alienationCharacter of joint tenancy interests held by both spouses or both domestic partners. 3. Thethe right of survivorship in the surviving joint tenant(s). This means that when one owner passes away, their share of the property automatically transfers to the surviving owner (s) without going through probate. The grantees are two named people: you and your spouse. (520) 433-9631. While alive, Mrs. 3/28/2019 (c) William P. Current as of March 08, 2022 | Updated by FindLaw Staff. Egizii, (Ariz. 10To inherit under Arizona's intestate succession statutes, a person must outlive you by 120 hours. Marital property is any asset — real estate and personal property — that either spouse acquired during marriage, like a house or land rights, a car, furniture, and. Joint ownership of real property can be categorized as the three most common types of ownership: Tenants in Common (“TIC”); Joint Tenancy; and. Joint tenancy co-owners almost always have equal shares. Unless the joint tenancy with the right of survivorship is otherwise disposed of in a final order of divorce or annulment, if either party to an instrument of title creating a joint tenancy with the right of survivorship files an affidavit in the real property records maintained by the clerk of superior court of the county in which the real. D. Author: Francisco Sirvent - Keystone. Click here to go back to previous page. FindLaw's top 10 reasons unmarried partners owning property as joint tenants is a good idea are below. With other tenancy types, such as tenants in common, tenants may own unequal percentages of interest in the property. the recipient spouse keeps the gift as separate property, but the gift’s value is factored in when dividing marital property, or. Rather, the court will divide property between spouses in a way that it considers fair. 33-405. Joint Tenancy: A joint tenancy deed is the most common type of co-ownership structure in which right of survivorship is included. Your home is equally shared between you, fifty-fifty — no matter how it’s titled. The Arizona Court of Appeals in the case of Bell-Kilbourn vs. SEPARATE PROPERTY. Community debts that the court has ordered to be paid by the parties. For example, say that you have a job earning a regular salary. R. a deed or will) (4) Unity of interest. Legislative changes in 1973 allowed couples to defeat the community property presumption through form of title, but only for property acquired before 1975, Liu noted. Citizen: If a spouse gifts half of an interest in real property to their spouse who is not a U. a. L. The trusts can provide that the property on the death of one owner passes to the other owner, without the need for a probate. "California Family Code Section 852: Converting Community Property to Separate Property. Mrs. Property owned by one spouse before marriage is separate property. Sporty and studious, caring and loyal, John is a father of two wonderful children (and Cooper the dog). § 33-405. Unity of time - all joint tenants acquire their interest at the same time 4. You and your co-owner need not own. Click on the New Document option above, then drag and drop the document to the upload area,. Hard feelings may develop if only one child’s name is included on the property deed and other children are excluded. Contract of sale or granting of option to purchase, to third party, by both or all of joint tenants or tenants by entirety as severing or terminating tenancy, 39 A. Wisconsin’s Uniform Marital Property Act (chapter 766 of Wisconsin Statutes) was adopted in 1986, and follows many community property. This new status can be created without the need for a "straw person," which is required with Joint Tenancy deeds with rights of survivorship, and it can be terminated by the recording of an affidavit. For property tax purposes, a joint tenant's interest can be transferred into a revocable trust without severing the joint tenancy if the other joint tenant is the present beneficiary. There may be unintended tax consequences, loss of control and/or liability risks. A quitclaim deed is named as such because it means that the owner is leaving behind their claim on the property. The property remains under the umbrella of joint tenancy with the right of survivorship unless action is taken to alter the title. Court will not presume joint tenancy. The parties were going through a divorce in Arizona. Graber, 170 Colo. Separate property A. Enter your official contact and identification details. 12 In F. Note: If a married person enters into a joint. Likewise, if a parent named only one child as a joint tenant on the deed to the family farm or residence but later created a will expressing a wish to have all of the children share equally in the property, the deed would override the will, and the entire interest in the property would pass to the one child who was listed on the deed as a. 2d 1317, 1332; see Code Civ. L. Yes you can deed the property from yourself to you, wife and son just as you say, and the documentary transfer tax will be waived assuming you fill out the Preliminary change of Ownership. With more wealth, lines get blurred. As you have learned here already, tenancy in common is an arrangement where two or more people share ownership rights in a property. Utilize the upper and left panel tools to edit Joint Tenancy to Tenancy in Common Deed - Arizona. Arizona Revised Statutes Title 33. Inheritance Law in Community Property States. A5. They create a tenants in common agreement where Person A owns a 75% share of the property and. Beneficiary deeds; recording; definitions. as joint tenant with Bob's heirs. A deed that conveys an interest in real property, including any debt secured by a lien on real property, to a grantee beneficiary designated by the owner and that expressly states that the deed is effective on the death of the owner transfers the interest to the designated grantee beneficiary effective on the. Planning objective when estate less than $11. The quit-claim deed is not typically used for residential real estate purchase transactions. Title to real property can be held in joint tenancy by two or more individuals either married or unmarried. Joint Tenancy with right of survivorship is a method of co-ownership that gives title to the real property to the surviving tenant (s) upon death of a joint tenant owner. See N. A deed that contains the spouses’ names followed by words of inheritance or succession but without words of survivorship will create a tenancy in common. You may owe your spouse’s debt even if you knew nothing about it. Each joint tenant holds an equal and undivided interest in the estate. Pappas, 259 Mass. A)Joint tenancies may only be established between spouses. A trust can be a joint tenant under Civil Code section 683(a), which specifies that a joint tenancy may be created by grant or devise to trustees as joint tenants. In Armer v. Strong presumption that property acquired by married couple* is community. So, if you and your brother are in a car accident and he dies a few hours after you do, his estate would not receive any of your property. This avoids court proceedings, just like the deed designation of joint tenancy. Virginia. Other forms of co-ownership include tenants-in-common and a tenancy by the entirety. The creation of a joint tenancy has important legal consequences. Transferring the property may incur transfer taxes, which must be paid at the recording. Separate property is owned by an unmarried person or owned by a person before marriage. Establishing separate property of a spouse. state-level legal distinction of a married individual's assets. Joint Tenancy. In a warranty deed, the grantor promises to pay for any lawsuits or damages due to undisclosed ownership. The co-owners, or co-tenants, are commonly categorized as either joint tenants or tenants in common. Megarry and Wade,JOINT TENANCY. A type of ownership of real or personal property where two or more people each holds an undivided interest. Joint tenancy is one form of co-ownership. When one of them dies, the property passes to that tenant's heirs. The parties were married on February 15. An allowance for child support or spousal maintenance, or. E. D. Joint Tenancy: A type of property right where two or more people own or rent a property together, each with equal rights and obligations, until one owner dies. We hold that under this rule, joint tenancy titling of property acquired by spouses using community funds on or after 2 In re BRACE Opinion of the Court by Liu, J. See Chester H. Convey Real Property Using Deeds • See A. Probate isn't required – the deed itself transfers the deceased spouse's ownership interest. All joint tenants, and their spouses, must sign deeds and contracts to transfer or sell real. It is an undivided ownership; in other words, all owners own the entire asset. Beneficiary deeds; recording; definitions. Tenancy in common: property is owned by two or more owners. Tenancy by the Entirety. Family Code 770 states: "(a) Separate property of a married person includes all of the following: (1) All property owned by the person before marriage. )This is required only of individual estates that exceed a gross asset and prior taxable gift value of $12. It’s also critical for all of your tenants in common to agree to the sale overall. Tenants in Common – This is how two or more people (co-tenants) may take title to property who intent their share in the property to be separate from the other on death. For example: Bruce Buyer, a married man and George Buyer, a single man, as joint tenants. App. Joint tenancy is a type of property ownership between two or more owners. S. At Keystone Law Firm, we use our estate planning experience to help clients like untangle property issues relating to your estate plans. Simply put, if you are unmarried, everything that you own is separate property, according to Arizona inheritance laws. (c) A party shall be reimbursed for the party's separate property contributions to the acquisition of property of the other spouse's separate property estate during the marriage, unless there has been a transmutation in writing pursuant to Chapter 5 (commencing with Section 850) of Part 2 of Division 4, or a written waiver of the right to. PROPERTY RIGHTS AND LIABILITIES. That means when two people own a home in joint tenancy, each person owns 50 percent of the home’s equity. §33-405) transfer property upon death. The rent received by the inheriting spouse is considered separate property. ” (See Lonergan v. The default ownership for married couples is joint tenancy in. Learn how joint tenancy with right of survivorship works in Arizona, and how the state views real property owned by multiple people. First, you and your co-tenants can agree to convert the joint tenancy into a tenancy in common. (which exists when they have an account registered as either ‘joint tenants with rights of survivorship’ or ‘joint tenants by the entirety’), each spouse is presumed to own 50% of the account. Must be expressly stated in writing and accepted. 13 If this occurs, does a gift presumption apply. Tenants in common, like joint tenants, share the right to possess, sell, and encumber the property. Tenants in common do not have to be married (or even related) to one another in. In addition, this is what will happen with your separate property: A. Use a check mark to indicate the answer. Tenants in CommonIn order to own property in joint tenancy, the deed or title must have the words “as joint tenants” or in “in joint tenancy,” otherwise. It shares many of the characteristics of community property but adds the benefit of the right of survivorship similar to title held in joint tenancy. Property will automatically transfer to the surviving owner at death if it is titled with right of survivorship (as tenancy by the entirety, joint tenants with rights of survivorship, or community property with rights of survivorship). A tenancy by the entirety is a form of joint ownership that protects property from creditors of either spouse. Even when one party contributes the entire subject matter, the rights of each are the same. All four unities must exist. For instance, as a property owner, you can choose to own 75% of the property, while your co-owner owns the remaining 25%. The. Chandler Arizona Warranty Deed for Separate or Joint Property to Joint Tenancy Make the most of our extensive online form library to make sure you always can get up-to-date samples that are prepared for downloading, preparing, and signing. Contact Adam today at 480-750-7337 or by email at adam@gundersonlawgroup. Surprise Arizona Warranty Deed for Husband and Wife to Five Individuals as Joint Tenants A professionally-drafted document by US Legal Forms can help you spend less time and costs, and stress. ), who outlive you (whether they are grown or not) then half of your separate property probate assets will go to your spouse and the other half to your issue; B. 01. It also includes any property that is traceable to separate property, and any property that the spouses agree is separate property. as tenant in common with Bob's heirs. The. The advantage of joint tenancy is that upon death of one of the joint tenants, their interest is transferred outside probate to the surviving joint tenant(s). Joint tenants with right of survivorship is a legal status that determines how property is transferred after one homeowner dies. Review the template by reading the description for using the Preview function. result of commingling community and separate property in arizona; increased value of a business in an arizona divorce; gift of separate property through a joint tenancy deed. d. In Arizona, community property law presumes. Affidavit of Property Value – *Required for every deed or transfer of ownership (*except for property that is transferred through quitclaim for no monetary exchange or for a nominal amount. In general, Arizona allows multiple individuals to hold title in one of three ways: tenancy in common, joint tenancy, and community property (§ 33-431). R. The common law system provides that property acquired by one member of a married couple is owned completely and solely by that person. Note: Arizona is a community property state. Therefore, selling or mortgaging the property will require the agreement of all joint owners. The person or entity making the gift. ) “A joint tenancy is an estate held by two or more persons jointly, each having an equal right to its enjoyment during his or her life. 00 goes to the bank. Estate in Severalty – property is owned by one owner. An example of tenancy in common would be if Person A and Person B purchase a home together for $100,000. Joint tenants, on the other hand, must obtain equal shares of the property with the same deed, at the same time. We explain each of these deed types in detail below. result of commingling community and separate property in arizona; increased value of a business in an arizona divorce; gift of separate property through a joint tenancy deed in arizona; abandonment of marriage and community property rights in arizona; are profits from a separate business community or separate property; tracing separate property. By the deed’s explicit declaration, no consideration is necessary or expected. 020 3370 8784 / Email Directly. Under §1014(b)(6) the tax basis of the entire property is stepped-up (or down). Upon the death of an owner, the decedent’s interest ends and the survivor owns the property. “This conveyance establishes sole and separate property of a spouse. He is, however, first to admit that the team around him run the show, and he’s incredibly proud of each and every one of them. Joint tenants mutually share complete ownership of real estate. To initiate joint tenancy, property law dictates four requirements (also known as “unities”) be met: Unity of time: All co-owners need to take ownership of the property at the same. Comparison to Other Deed Forms. It transfers sole title to the party who is awarded that property. For. When using a warranty deed, the seller guarantees that the property has no liens against it and the seller holds full ownership, giving them the legal right to transfer it. It is only available in nine states currently: Arizona, California, Idaho, Louisiana,Nevada, New Mexico, Texas, Washington, and Wisconsin. In general, Arizona allows multiple individuals to hold title in one of three ways: tenancy in common, joint tenancy, and community property (§ 33-431). (Don't include the quotes. S. Warranty Deed to Separate Property of one Spouse to both as Joint Tenants: In this type of deed, the separate property of one spouse is transferred to both spouses as joint tenants. 06 million ($24. Sunwest Bank (In re Fingado), 113 Bankr. Disposition. Joint Tenancy can negatively impact your estate planning. Locate Kansas Warranty Deed to Separate Property of One Spouse to Both Spouses as Joint Tenants samples made by professional legal representatives and avoid the high-priced and time-consuming process of looking for an lawyer or attorney and then paying them to write a document for you that you can easily find on your own. 03. A deed that conveys an interest in real property, including any debt secured by a lien on real property, to a grantee beneficiary designated by the owner and that expressly states that the deed is effective on the death of the owner transfers the interest to the designated grantee beneficiary effective on the. 84 million without paying any federal estate or gift tax. This is a form of vesting title to property owned together by spouses or by registered domestic partners. Arizona. If there were five owners, each would control 20% interest in the property. Enter your official identification and contact details. Gift tax—Depending on who the joint tenants are, there may be gift tax implications for transferring or tilting property in joint tenancy. The male co-owner later obtained a second mortgage for $100,000 in his name alone. Joint tenancy is a legal term for an arrangement that defines the ownership interests and rights among two or more co-owners of real property. A joint tenant can indeed sever the right of survivorship WITHOUT the consent of the other joint tenants. So if two people own the property, each controls 50%. But if a couple divorces and the ex-spouses still own the property as joint tenants, California law revokes the ex-spouse's right to receive the property after the other spouse dies. (1) Joint tenancy interests held in the names of both spouses or both domestic partners, whether or not in conjunction with others, are presumed to be their community property, the same as other property held in the name of both spouses or both domestic partners. Joint tenancy. Joint Tenancy: a form of co-ownership where property is owned by two or more persons at the same time in equal shares. § 12-1103, subsection B. R. Statute relating to joint tenancy in personal property as applicable to choses in action, 144 A. Quit Claim Deeds. Separate multiple values with a space. If you have. 02. TENANTS IN COMMON: Co-ownership between individuals and/or entities who do not have survivorship rights. But if you own 60% of a house and your partner owns 40%, joint tenancy. Perhaps the marital home is actually separate property, as one spouse owned it prior to the marriage. In 1995, the Arizona legislature made the. B1. Share your form with others. In order to sever the right of survivorship, a tenant must only record a new deed showing that his or her interest in the title is now held in a Tenancy-in-Common or as Community Property. If you have any further questions regarding joint tenancy or would like to make an appointment with Gloria Petroni, call 775. B) JOINT TENANCY Where there is a joint tenancy, all of the co-owners or “joint tenants” are said to own the entire property as one, with no distinct shares. 787 (1927), we stated:Locate North Carolina Warranty Deed for Separate or Joint Property to Joint Tenancy samples developed by skilled legal representatives and get away from the high-priced and time-consuming process of looking for an lawyer and after that paying them to draft a papers for you that you can find on your own. Separate property also includes assets inherited by one spouse or gifted to the individual. That’s because you’ll need all of the owners to be available to sign over the deed. B) Joint tenancy with right of survivorship (JTWROS), tenancy by. Earnings of either spouse during a marriage are community property in Arizona. Consider the possible impact of dower on a TOD. This is when a deed with the right of survivorship is most commonly used, with the ultimate goal to ensure that the distribution of the property is equitable. If I understand your situation correctly, you disclaimed your entire ownership in the house and gave your interest to your husband. Community property. Prescott & Yavapai County Probate, Boundary Disputes, Easements, Quiet Title, and Partition Lawyer - GoodmanLaw - call (928) 445-3230 now. If a living joint tenant transfers all or part of his. Half-relatives. (2) They can own it separately as separate property. Arizona courts presume a gift when a spouse places separate real property in joint tenancy with the other spouse. This dictates that when one of. property that the spouses have agreed (in writing) is separate, usually through a legally valid prenuptial or postnuptial agreement, and. Description Az Deed Form Arizona. Edward is disabled and has two adult daughters, Gwen and Stacy. The parties need not be married to take title as joint tenants, and there may be more than two joint tenants. In many states, 4 unities must be satisfied to create a joint tenancy: unity of possession; unity of interest;All joint tenants must agree to the sale or mortgage of the property. In Arizona, when one spouse uses separate property to purchase jointly-held property, she gifts an interest to the other spouse. Deed of Trust. D)Each joint tenant in a joint tenancy has an undivided, equal interest in the property. This article covers the difference between the two types of deeds and the process for filing them. A joint tenant can indeed sever the right of survivorship WITHOUT the consent of the other joint tenants. Schedule Your Consultation Transmuting Separate Property into Community Property in Arizona How marital property, assets, and debts, are to be divided is an issue that must. The property can be. Posted on May 3, 2014. • if no fractions are stated in the deed, the tenants are presumed to hold equal shares. A separate law called the doctrine of necessaries may obligate you to pay your spouse’s debt. The state of Arizona is a community property state. For simplicity, much of the language relating to beneficiary deeds refers to a single owner. The individuals, who are called joint tenants, share equal ownership of the property and have the equal, undivided. the portion of certain personal injury awards meant to compensate for. 2. You will also need to include the grantee’s name. Deciding on the best way to hold title in California can be complicated on account of the many factors that must be taken into consideration. However, if the spouse’s efforts during. S. R. Prepare the transfer instrument and file it at the Singapore Land Authority with. Navarre (1946) 64 Ariz. A joint tenancy is severed by (a) mortgage or creation of a deed of trust, (b) transfer to a revocable or irrevocable trust, (c) contract to convey the property, or (d) destruction of one or more of the four unities; and the result is the failure of the right of survivorship. As of July 20, 1996, the Arizona legislature effectively abolished the requirement of the "straw deed" and the necessity of joint. 1. Each joint tenant has an equal, undivided interest in the whole property. There are three common forms of home ownership. Joint tenancy, a transfer on death deed, and tenancy by the entirety are ownership designations that. This is the case for properties owned by family members or friends as joint tenants with rights of survivorship. The separate property of each spouse is distributed to the spouse who owns it and is not divided according to the 50/50. A joint tenant may transfer their interest unilaterally, and without the knowledge and/or consent of the co-tenant (s). created a tenancy in common, not a joint tenancy, because the gift. Trusts can be both single and joint. Placement of Properties into Joint Tenancy by Husband Constituted a Gift of Separate Property Spouse Gifting Property Through Joint Tenancy is Not Entitled to Reimbursement Judge May Not Unequally Divide Joint Tenancy Property That Results from a Gift of Separate Property in Arizona Impact of Joint Tenancy Deeds on Community Property in Arizona separate property contributions when dividing community property in arizona; property held as joint tenants with rights of survivorship in an arizona divorce; dividing retirement accounts in an arizona divorce; arizona divorce debt; effect of placing community property into a family trust in arizona; community property lottery winnings in. any property one spouse owned alone before the marriage. 1465. To learn more about how you can use an irrevocable trusts and discuss joint tenancy, co-ownership of assets, revocable living trusts and create a solid asset protection system call Estate Street Partners 888-93-ULTRA (888-938-5872). Not all community property states will let a creditor file a lien on joint property where only one spouse is a judgment debtor. App. An adult daughter inheriting the property after the. The quitclaim deed would transfer title from the community or joint property to separate property. Simply put, a beneficiary deed allows a real property owner to execute a deed that transfers the title to the property to a beneficiary upon the death of the grantor. separate property character of an asset acquired by spouses during marriage. Here is how it works: The house is sold for $800,000. The building would have to be sold upon Bob's death. The individuals, who are called joint tenants, share equal ownership of the property and have the equal, undivided right to keep or dispose of the property. (480) 467-4325 or fill out the form below to schedule a consultation and discuss your best legal options. Which of the following statements regarding a joint tenancy is FALSE? Joint tenants each have the right to use the whole property. Upon an owner's death, that owner's. Joint Tenancy: A type of property right where two or more people own or rent a property together, each with equal rights and obligations, until one owner dies. Click on New Document and choose the file importing option: upload Joint Tenancy to Tenancy in Common Deed - Arizona from your device, the cloud, or a protected link. Any asset or investment that is acquired during the marriage becomes a part of the “community” of the marriage. The advanced tools of the editor will lead you through the editable PDF template.