Joint Tenancy Definition With Real Estate In Fulton
Category:
State:
Multi-State
County:
Fulton
Control #:
US-00414BG
Format:
Word;
Rich Text
Instant download
Description
The document titled 'Agreement by Unmarried Individuals to Purchase and Hold Residence as Joint Tenants' outlines the joint tenancy definition with real estate in Fulton. This agreement allows unmarried individuals to acquire property together, ensuring each party owns an undivided one-half interest with rights of survivorship. Key features include the establishment of a joint tenancy, shared expenses, and provisions for selling or transferring interests in the property. Parties must jointly handle costs such as mortgage payments and maintenance, and they agree on a collaborative checking account for managing these expenses. It also stipulates that any sale or transfer of interest requires notifying the other party, following specific valuation procedures. For attorneys, partners, owners, associates, paralegals, and legal assistants, this form serves as a foundational tool for structuring property ownership among unmarried individuals, ensuring clarity in shared responsibilities and legal protections.
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