Joint Tenants Or Tenants In Common With Equal Shares 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' form outlines the ownership arrangement between two unmarried individuals acquiring property as joint tenants with equal shares in Phoenix. This agreement ensures that both parties will hold an undivided one-half interest in the property, providing the right of survivorship. Key features include the shared responsibility for mortgage payments, taxes, and other expenses related to the property, as detailed in the agreement. Filling instructions emphasize the need to complete specific sections accurately, including personal details, property description, and financial arrangements. The form is particularly useful for attorneys, partners, and legal assistants, as it establishes clear guidelines for property ownership, management of shared expenses, and procedures for selling or transferring interest. It aids in preventing disputes by clearly defining responsibilities and required actions in case one party defaults on payments. This document fosters transparency and mutual understanding between parties, making it an essential tool for those engaging in co-ownership of real estate without marriage.
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