Affidavit of Property Value
An Affidavit of Property Value is form created by the Arizona Department of Revenue, and is required by law (ARS § 11-1133) to be recorded simultaneously with any deed transfer, unless you have a proper exemption code.
What exactly does the Affidavit of Property Value do?
Sometimes referred to as simply an “Affidavit of Value” or simply “APV”, the purpose of the Affidavit is to disclose information about the sale of real property. Whenever property is sold, the actual transfer is made public record by recording a deed. When the deed is recorded with the County Recorder‘s Office, an APV must be recorded at the same time to disclose information such as:
Seller/Buyer Name and Address
Relationship between Buyer and Seller (if any)
Where to send the Property Tax Bill
Type of property (Single Family Residence, 2-4 Plex, Commercial, etc)
Method of Financing
Any Personal Property included in the sale
Any Solar / Energy Efficient Components
After recording, this information is made public record. It is available for anyone to see, and is used as a basis to determine property taxes, establish value for comparable sales and more.
How do I file it?
The form must be filled out completely, signed and notarized by both the Seller and Buyer (or their respective Agents) and attached to the deed when submitted to the county for recording. Note: If you’re mailing in the Deed and Affidavit for recording, make sure you first check to see what the recording fees will be! The cost is usually based on the number of pages and whether or not an Affidavit of Property Value is required.
When is the Affidavit not required?
There are several scenarios that exempt the requirement of recording an Affidavit of Property Value. Here’s some of the most common situations you don’t have to file an APV, and the applicable exemption codes:
- A transfer that confirms or corrects a previously recorded deed. (ARS § 11-1134 B-2)
- Transferring property between parent and child or husband and wife, with only nominal consideration (payment) for the transfer. (ARS § 11-1134 B-3)
- Transferring property from a person to a Trustee, or from a Trustee to a trust beneficiary with only nominal consideration for the transfer. (ARS § 11-1134 B-8)
- Adding a spouse to create an estate in “Community Property with Right of Survivorship“. (ARS § 11-1134 B-10)
- When recording a Beneficiary Deed. (ARS § 11-1134 B-12)
These are only some of the more common scenarios. A complete list of the exemption codes can be found in Arizona Revised Statutes. Or, here’s a PDF file with the exemptions along with a short explanation of each.
So what do I actually type on the deed?
(“Help, my deed was rejected!”)
If you have determined that your deed transfer is exempt, simply type or legibly print on the face of the deed something like this:
This transfer is being made to establish an estate in Community Property with Right of Survivorship with only nominal consideration for the transfer and the Affidavit of Property Value is exempt pursuant to ARS § 11-1134″
Really, you can even shorten that to something like “Affidavit Exempt per ARS 11-1134-______”, inserting the proper code.
Where do I find the form?
You can either download a blank copy of the DOR FORM 82162 (01/2012) Affidavit of Property Value or we will be happy to assist you in the preparation and recording of your Deed and Affidavit!