Joint Tenants Or Tenants In Common On Death In Phoenix
Category:
State:
Multi-State
City:
Phoenix
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 individuals in Phoenix who are purchasing property together while establishing joint tenancy with right of survivorship. This form allows for two unmarried individuals to hold an undivided interest in the property, ensuring that upon one individual's death, the other becomes the sole owner without the property passing through probate. Key features of the form include the establishment of a joint checking account for shared expenses, provisions for selling or transferring interests, and guidelines for property valuation over time. Attorneys, partners, owners, associates, paralegals, and legal assistants can utilize this document to ensure clarity and mutual understanding in property ownership arrangements, protect both parties' interests, and streamline estate planning processes. The form also includes instructions for modifying agreements and stipulations regarding mortgages and encumbrances, making it a comprehensive tool for those involved in joint property ownership.
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