Tenants In Common Vs Joint Tenancy With Right Of Survivorship In Mecklenburg
Category:
State:
Multi-State
County:
Mecklenburg
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 provisions for two unmarried individuals to acquire and hold property as joint tenants with right of survivorship in Mecklenburg. Key features include the execution of a deed that conveys property interests, shared payment responsibilities for expenses related to the property, establishment of a joint checking account for financial management, and restrictions on the transfer or sale of interests between the parties. The agreement ensures that each party must consent before any interest is mortgaged or assigned, protecting their respective investments in the property. In the event of a dispute, a defined process is in place for the valuation and sale of the property or the interest of either party. This document is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in real estate transactions as it provides a clear framework for collaboration and ownership between unmarried individuals.
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