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Colorado Warranty Deed for Separate or Joint Property to Joint Tenancy

Joint Tenancy Co

Name: Colorado Warranty Deed for Separate or Joint Property to Joint Tenancy
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.86 (270 reviews)

Category:

Colorado Real Estate - Deeds - Warranty

State:

Colorado

Control #:

CO-SDEED-4

Format:

Instant download

Description Joint Tenancy Warranty Deed

This form is a Warranty Deed where the grantor may be an individual or individuals conveying property to the grantees as joint tenants.

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How to fill out Colorado Warranty Deed For Separate Or Joint Property To Joint Tenancy?

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FAQ

In Colorado, this form of joint ownership is available: Joint tenancy. Property owned in joint tenancy automatically passes to the surviving owners when one owner dies. No probate is necessary.

Joint tenancy is a form of concurrent ownership, whereby two or more individuals hold title to a specific property.Severance of joint tenancy usually occurs when one or more of the joint tenants transfer their interest to a third party, or one or more joint tenants file a petition in court to partition the property.

The deed specifies that the joint tenants own an equal amount of interest in the purchased property and are thus equally liable for it financially. Since the joint tenants have equal interest, the property cannot be sold without all parties' consent.

What Is the Difference Between a Warranty Deed & a Survivorship Deed?A warranty deed is the most comprehensive and provides the most guarantees. Survivorship isn't so much a deed as a title. It's a way to co-own property where, upon the death of one owner, ownership automatically passes to the survivor.

This is known as 'Severing the Joint Tenancy'. It requires service of a written notice of change the 'severance'. It can be done without the other owner's cooperation or agreement. It is recorded at the Land Registry, and the other owner will know it has been done but only 'after the event' so to speak.

With a Survivorship Deed in place, when one of the parties in a joint tenancy dies, the other party (or parties) takes over the deceased party's interest in the property instead of it passing to the deceased's heirs or beneficiaries.

TENANT MAY SEVER THE JOINT TENANCY BETWEEN HIMSELF OR HERSELF AND ALL REMAINING JOINT TENANTS BY UNILATERALLY EXECUTING AND RECORDING AN INSTRUMENT CONVEYING HIS OR HER INTEREST IN REAL PROPERTY TO HIMSELF OR HERSELF AS A TENANT IN COMMON. THE JOINT TENANCY SHALL BE SEVERED UPON RECORDING SUCH INSTRUMENT.

In order to officially relinquish joint tenancy, you must record the new deed or or written declaration in the county where the property is located. In most cases, if one of the owners dies before you actually record the new deed or declaration, the property still will automatically pass to the other joint tenants.

For example, joint tenants must all take title simultaneously from the same deed while tenants in common can come into ownership at different times. Another difference is that joint tenants all own equal shares of the property, proportionate to the number of joint tenants involved.

Joint Tenancy Co

Description Joint Tenancy Warranty Deed

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How to fill out Colorado Warranty Deed For Separate Or Joint Property To Joint Tenancy?

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Warranty Deed Joint Tenants Form popularity

FAQ

Is Colorado a joint tenancy state?

Can joint tenancy be severed?

Can I sell my half of a joint tenancy?

What is the difference between a survivorship deed and a warranty deed?

Can you sever a joint tenancy without the other party?

What is a joint tenancy with survivorship warranty deed?

How do you sever joint tenants in Colorado?

How do I dissolve a joint tenancy?

Is joint tenancy the same as joint ownership?

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