No Probate Required for Real Property with Low Equity
Updated June 2016
An elderly lady dies with her only heir being her adult son. Her only substantial asset is her home with an assessed value of $120,000 and with a mortgage of $80,000. The elderly lady has no Will. Does her adult son have to open a probate to convey the home to him?
No. Under A.R.S. §14-3971(E) no probate is required to transfer by affidavit a home with low equity. In general, the requirements are the following: 1. The equity in the home per assessed value is less than $100,000; 2. More than six months have passed since the date of death; and 3. The person signing the affidavit is the sole heir. Therefore, the adult son should be able to convey the home to himself by recording the proper affidavit.
Arizona REALTOR® April 2008