Tenants In Common Or Joint Tenants With Right Of Survivorship In Allegheny
Category:
State:
Multi-State
County:
Allegheny
Control #:
US-00414BG
Format:
Word;
Rich Text
Instant download
Description
The Agreement by Unmarried Individuals to Purchase and Hold Residence as Joint Tenants is designed for unmarried couples seeking to purchase property together as joint tenants with right of survivorship. This agreement allows each party to own an undivided one-half interest in the property and ensures that upon the death of one tenant, the other automatically inherits the deceased's share. Key features include the division of financial responsibilities, establishing a joint checking account for property expenses, and stipulations regarding the sale or transfer of interests in the property. Attorneys, partners, owners, associates, paralegals, and legal assistants can find this form particularly useful for drafting agreements that outline ownership structure, financial arrangements, and dispute resolution mechanisms. It is essential for users to fill out property details, sign the agreement, and understand the implications of joint tenancy. The form also includes clauses for valuation adjustments and encumbrances that protect both parties' interests.
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