 |
ARIZONA STATE SENATE
Fifty-Seventh Legislature, First Regular Session
small estate; affidavit; limits
Purpose
Increases the maximum value of real or personal property that allows a small estate to be transferred to the decedent's successor through an affidavit.
Background
Statute governs the procedures to transfer a small estate by an affidavit filed with the court. After 30 days have elapsed since the decedent's death, a person indebted to the decedent must pay the indebtedness or deliver the decedent's personal property to the decedent's successor on being presented with an affidavit. After six months have elapsed since a decedent's death, a person claiming as successor may file with the court an affidavit describing the decedent's interest in real property. For the collection of personal property or for the transfer of title to real property, the affidavit must state that either: 1) no one has filed an application or petition for appointment of a personal representative and no application or petition has been granted in any state; or 2) if an application has been granted, the personal representative has been discharged or more than one year has elapsed since a closing statement has been filed. The value of all personal property in the decedent's estate, wherever located, minus the amount of liens and encumbrances on the property, may not exceed $75,000. The assessed value of all real property located in Arizona, including any debt secured by a lien on real property, less liens and encumbrances against the real property as of the date of the death, may not exceed $100,000 (A.R.S. § 14-3971).
There is no anticipated fiscal impact to the state General Fund associated with this legislation.
Provisions
1. Increases, from $75,000 to $200,000, the maximum value of all personal property in a decedent's estate that allows a transfer of the estate by affidavit.
2. Increases, from $100,000 to $300,000, the maximum value of all real property in a decedent's estate that allows a transfer of the estate by affidavit.
3. Makes technical changes.
4. Becomes effective on the general effective date.
House Action
COM 2/11/25 DPA 10-0-0-0
3rd Read 2/24/25 53-6-1
Prepared by Senate Research
March 6, 2025
MG/ci