Arizona law has required since 1997 an affidavit of value to be appended to any deed evidencing a transfer of title to or to any contract relating to the sale of real property when submitted to the appropriate county recorder for recording. This is set forth in ARS Sec. 11-1133. The affidavit discloses various items of information, including the purchase price, down payment, amount of encumbrance, names of parties and so forth. ARS Sec. 11-1134 provides a variety of exemptions, which if noted on the deed or contract, eliminates the need for submitting the real estate transfer tax affidavit along with the deed or contract.

In 2012, the statute was amended to provide a variety of new exemptions in Paragraph B of Sec. 11-1134, most of which apply to transfers to and from business entities and their owners where there is no or only nominal consideration involved. These changes will make compliance with the statute requiring real estate transfer affidavits or as they are more commonly called, affidavits of value, more straight forward.

Michael W. Margrave
mmargrave@mclawfirm.com
480-994-2000

Mike Margrave with Ed Dickens Union Pacific

 

ANNOUNCEMENT

 

Effective January 6, 2020, attorneys Michael W. Margrave, Michael L. Kitchen, and Patrick J. Van Zanen, as well as paralegals Brittany Crane and Mallory Rasmussen, will join Sacks Tierney P A at their office located at 4250 N. Drinkwater Boulevard, Scottsdale, AZ  85251. Their new contact information is:

Michael W. Margrave    
direct line: 480-425-2606
fax: 480-425-4906
michael.margrave@sackstierney.com

Michael L. Kitchen
direct line: 480-425-2619
fax: 480-425-4919
michael.kitchen@sackstierney.com

Patrick J. Van Zanen    
direct line: 480-425-2623
fax: 480-425-4923
patrick.vanzanen@sackstierney.com

Brittany Crane
direct line: 480-425-2627
fax: 480-425-4927
brittany.crane@sackstierney.com

Mallory Rasmussen
direct line: 480-425-2629
fax: 480-425-4929
mallory.rasmussen@sackstierney.com

We hope to continue serving your needs at our new home with Sacks Tierney P.A. beginning January 6, 2020