Arizona is one of nine community property states in the U.S.Arizona’s divorce and family law statutes, which are contained in Title 25 of the Arizona Revised Statutes, generally describes community property as all property acquired by either spouse during the marriage except such property that is specifically defined …
What happens to community property when one spouse dies in Arizona?
Arizona is a community property state. Upon the death of one spouse, every asset that is community property is divided in half. One half of the property is retained by the surviving spouse and the other half is passed down to the heirs of the deceased spouse, either by will or trust or by intestacy.
Can a married couple own real estate in Arizona?
Community Property with Right of Survivorship in Arizona Like many western states, Arizona allows legally married couples to own real estate as community property, with or without rights of survivorship. The rules and definitions are set forth at Section 33-431 of the Arizona Revised Statutes.
What is community property law in Arizona and why does it matter?
What is Community Property Law in Arizona and Why Does it Matter? Arizona is a community property state and community property law controls the division of all assets of your marital estate.
Can a spouse convert separate property to community property in Arizona?
Converting Separate Property into Community Property. Spouses in Arizona are permitted to change the legal characterization of their property either intentionally or unintentionally. For example, a spouse may intentionally gift their separate property to the community.
What is community property with right of survivorship in Arizona?
Community Property with Right of Survivorship in Arizona. Generally, anything that a married couple accumulates during the marriage is considered community property. Assets acquired prior to the marriage, or gifts, wills, and inheritances are usually sole and separate (individual) property. The principles of community property are meant…
