Arizona Warranty Deed Condominium
Warranty Deed Condominium for Real Estate Located in Arizona
The Condominium Act is codified in Arizona at ARS 33-1201, et seq. A condominium is a piece of real estate, portions (units) of which are reserved for separate ownership, with the remainder designated for common ownership solely by owners of the separate units (33-1202(10)).
A conveyance of a condominium unit typically includes the unit and common elements appurtenant to the unit. "Common elements" are the portions of a condominium other than the units, such as entryways, hallways, walls, and gardens (33-1212(7)). The declaration establishing the condominium, recorded in the real property records, designates the allocated interest of each unit, meaning the undivided interest in the common elements, the common expense liability, and votes in the association allocated to each unit (33-1202(2)).
Conveyances of condominium units follow the same guidelines for conveyances of real property under Title 33 of the Arizona Revised Statutes. As with any other transfer of real property, conveyance of a unit requires the execution of a deed.
A warranty deed is a statutory form under ARS 33-402(3). In addition to the covenants of a grant deed (that the property has not been previously conveyed by the grantor and that the estate is free from encumbrances at the time of conveyance), a warranty deed contains the promise that the grantor will "warrant the title against all persons whomsoever." This covenant to defend the title must be explicit in the language of the deed. General warranty deeds carry the highest level of surety for a buyer because the warranty covers the entire chain of ownership of a property.
To transfer a unit, the instrument of conveyance requires a sufficient legal description that designates the unit by number and includes the name of the condominium, the recording information for the declaration (recording date and location), the county or counties in which the condominium is located, and a description of the common elements, rights, obligations, and interests appurtenant to the unit (33-1214).
Either the unit owner or the association, depending on the whether the size of the condominium is below or above fifty (50) units, respectively, is required to furnish information, including the bylaws of the association, a copy of the declaration, and other various statements, to the purchaser within ten days of a receipt of pending sale (33-1260).
In addition to the unit-specific legal description, the unit deed requires the name, marital status, and address of each grantor and grantee, as well as the grantee's vesting information, in the conveyancing clause. A statement of consideration reflects the amount of money and the monetary value of the entire compensation paid for the transfer of title, including the amount of any liens assumed (11-1131(2)). Include a reference to the source of the current grantor's title and note any restrictions on the property.
Arizona requires an affidavit of real value, alternately referred to as an affidavit of property value, completed by both parties to the instrument, to accompany all instruments transferring an interest in real property pursuant to 11-1133. When documents are exempt, a statement that the transfer is exempt and a citation of the relevant exemption should appear below the legal description on the face of the deed.
All conveyances are subscribed and delivered by the grantor and acknowledged in the presence of an authorized officer (33-401). Instruments must comply with the formatting requirements set forth at 11-480, and any other county-specific requirements for form and content.
Submit the deed and any supplemental materials for recording to the county clerk's office of the county where the subject property is situated. Contact the office to verify recording fees and accepted forms of payment.
Consult a lawyer with questions about transferring condominium units and warranty deeds in Arizona, as each situation is unique.
(Arizona Warranty Deed Condominium Package includes form, guidelines, and completed example)