AZ Quit Claim Deeds and APV exemption codes

[psparrow]

What is the name of your state? Arizona

Question about AZ Quit Claim Deeds and the exemption codes that exempt a filing from requiring the Affidavit of Real Property Value? The specific situation I'm looking to find a code for is when two people own a property as joint tenants with rights of survivorship and one of those tenants is turning over full ownership of the property to the other for a nominal fee like $10 or zero dollars.

 

[justalayman]

https://www.azdor.gov/Portals/0/Property/82162code.pdf

the codes are there. They are fairly self explanatory.

 

[psparrow]

https://www.azdor.gov/Portals/0/Property/82162code.pdf

the codes are there. They are fairly self explanatory.

Sorry, I did look at the list, several times, but was unable to be certain about which code applies to my situation. I think I can just use A7 (gift) even though we aren't giving each other a gift. Maybe what we are doing is "legally" gifting, just sounds funny in this case. IDK.

 

[FlyingRon]

Why $10? Anyhow if there's not other consideration being given in the transfer, it's a gift.

 

[stealth2]

Sorry, I did look at the list, several times, but was unable to be certain about which code applies to my situation. I think I can just use A7 (gift) even though we aren't giving each other a gift. Maybe what we are doing is "legally" gifting, just sounds funny in this case. IDK.

What else do you call it when you give someone something for free? Charity, I guess.

 

[psparrow]

Why $10? Anyhow if there's not other consideration being given in the transfer, it's a gift.

Yes, I agree. I guess I was thrown at first by the connotation of the word "gift". Makes sense when you think in the more literal or legal meaning of the word. Now I just need to convince the ex that the verbiage is ok for our quit claim deeds. Thanks guys.

 

[FlyingRon]

Hopefully, there is no mortgage on this property. Your quit claim deeds will do nothing to disclaim your liability for the mortgage if you are listed on it. You'd be a fool to give away ownership in property your obliged to pay for.