When purchasing a home, homeowners must decide how they wish to hold title to the property. Foreclosure proceedings in a lien theory state may be more difficult for the lender than in a title theory state, due to the fact that the buyer is holding title to the land and not the lender. The first property tax installment is due October 1st and delinquent November 1st; the second half is due March 1st and delinquent May 1st. Once the loan is paid in full, the seller will endorse the lien release on the front of the title and mail the title to you. There are no documentary, transfer, or mortgage taxes. The Arizona Revised Statutes have been updated to include the revised sections from the 54th Legislature, 2nd Regular Session. When you sell a vehicle, you must transfer the title to the new owner with the responsible state agency. There are numerous considerations for how to take title including taxes, estate planning, avoiding probate and creditor protection. Title Requirements in Arizona. Arizona is a community-property state. In a Title State, the lending institution holds title to the property in the name of the borrower through a Deed of Trust. Customers wishing to get an ARO will be required to show proof of registration from another (title-holding) state. If you're moving to Arizona and your vehicle was registered in another state, you are required to apply for a title and register it in Arizona as soon as you become an Arizona resident. This procedure is also necessary if you move a car into a trust. Transferring car titles from out of state into Arizona requires submitting the following documents in person at an MVD office: A completed, signed Title and Registration Application Form 96-0236; An emission compliance form (Phoenix and Tucson areas only) A Level I vehicle inspection, if out-of-state title and/or registration is missing Arizona MVD and Authorized Third Party offices will verify for you whether the state the vehicle is titled in, is a title-holding state. Below are common ways of holding title to a property in Arizona and some of the advantages and disadvantages for each. This tax treatment provides one of the key benefits to holding title in this fashion. If you live in Arizona and purchase a vehicle in the state, you're required to apply for a title within 15 days of purchasing a car. Title agents handle escrows, and attorneys conduct closings. Electronic lien and title, also known as ELT, is a program offered by various US States allowing for the electronic exchange of lien and title information with lienholders in lieu of a paper certificate of title. In a Title State, the lending institution holds title to the property in the name of the borrower through a Deed of Trust.In a Lien State, the deed stays with the borrower (), and the lender places a lien on the property using the mortgage instrument. A married couple seeking to hold title to real property located in Arizona in a form other than community property may do so by renouncing the community property form and specifically accepting another form of co-tenancy. The out-of-state registration may be expired. If you are purchasing the vehicle on payments, the seller should record the lien on the title, and thenhold the title until you have paid off the loan. They split escrow costs otherwise. Title State vs. Lien State. Arizona is a title holding state. ARKANSAS. If the vehicle is placed in the name of a trust, the trust itself -- not any individual -- has the rights and obligations of legal ownership. Please note that the next update of this compilation will not take place until after the conclusion of the 55th Legislature, 1st Regular Session, which convenes in January 2021.