There are many ways to take title on your home in the state of Arizona. While Real Estate Agents, and even title companies can not advise you which way to take title, we can provide you with general information for the most common forms so that you can make the best decision for you and your family.
First and foremost is Sole and Separate Ownership. Which is fairly self explanatory in that you are the sole owner of the property, this can be prior to marriage, or sometimes even after marriage in the event of a specific gift or inheritance. If sole and separate ownership is obtained after marriage, it typically does require the spouse to sign a disclaimer deed which essentially gives notice to the public that the non receiving spouse is relieving any ownership.
Then when you have multiple owners, you can go into community property which is between two individuals that are married to each other, and is generally the default for a married couple. Each spouse holds an undivided, equal interest in the property. This then requires both individuals to eventually sell and they can not sell their own interest in the property since it is undivided between the two, however one spouse can will their interest in the property in the event of their passing.
There is another form of community property that comes with almost all the same specifics, but is coupled with right of survivorship, which would mean in the event of ones death, the estate automatically passes to the surviving spouse outside of probate, therefore individual ownership can not be willed.
Joint Tenancy with the Right of Survivorship is when the parties of two or more, who do not need to be married purchase a property together, each party must hold equal undivided interests in the property, ownership must be acquired at the same time, and in the event of one passing, the ownership is passed to the surviving members in an equal share.
Lastly is tenancy in common, which can also be two or more individuals, they do not need to be married, and the big defining difference is the interest does not have to be equal. For example, it can be an 80/20 split, or a 70/20/10 split if there are 3 owners and so on. This ownership can be sold individually, and upon death that individual's shares would pass to their heirs.
There are also ways to take title through a partnership or corporation, and LLC and others so if you do want to dive into even more options, we recommend speaking to a real estate attorney for your unique guidance.