Quitclaim Deed to be used to convey property ownership to joint tenants with rights of survivorship Form
A Quitclaim deed allows for the transfer of a share of interest in property. What makes a quitclaim deed unique is that the grantor does not guarantee or warrant anything when transferring his or her share. The grantor may in fact not have title or interest in the property. Some common uses for quitclaim deeds are to transfer title between family members, in a divorce when one spouse will ?quitclaim? his or her interest in the family home to the other spouse for example, or to transfer real property into a trust or to a corporation.
Joint tenants own equal shares to property and like tenants in common, they have the right to possess the whole. The major difference is that joint tenants have rights of survivorship. The death of one joint tenant causes the entire property interest to pass to the other joint tenant or tenants. However, a joint tenant may, during his lifetime, transfer his interest to a third party. The affect of this transfer is that the transferee becomes a tenant in common with the remaining joint tenants. If there were more than two joint tenants to begin with, the joint tenancy relationship between the non transferring owners is not disturbed with regard to each other, only with regard to the transferee.
Use this document to create a quitclaim deed conveying property to multiple parties who wish to take title as joint tenants with rights of survivorship.
- This form is FREE (why?)
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The data didn't enter right for the second joint tenant
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I have seen the resulting form but so far I like what I have seen. I will provide more feedback after I see the resulting form.