Joint Tenants Or Tenants In Common With Equal Shares In Clark
Category:
State:
Multi-State
County:
Clark
Control #:
US-00414BG
Format:
Word;
Rich Text
Instant download
Description
The Agreement by Unmarried Individuals to Purchase and Hold Residence as Joint Tenants is a legal document allowing two unmarried individuals to jointly acquire property as joint tenants with equal shares. This form emphasizes the right of survivorship, where each tenant has an undivided half interest in the property, ensuring that the surviving tenant automatically inherits the deceased tenant's share. Key features include the allocation of financial responsibilities for expenses such as mortgage payments, taxes, and maintenance, which are equally divided between the parties. It also establishes a joint checking account for managing these expenses. Specific provisions ensure that neither party can sell or transfer their interest without the consent of the other, fostering collaboration and communication. The form aids attorneys, partners, owners, associates, paralegals, and legal assistants by providing clear guidelines for property ownership and expense management. It may be used in situations where unmarried individuals wish to invest in property together, ensuring legal clarity and protection of their shared interests.
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