Joint Tenants With Right Of Survivorship Vs Tenants In Common In Pima
Category:
State:
Multi-State
County:
Pima
Control #:
US-00414BG
Format:
Word;
Rich Text
Instant download
Description
The document outlines an Agreement by Unmarried Individuals to Purchase and Hold Residence as Joint Tenants. This agreement delineates the difference between joint tenants with right of survivorship and tenants in common in Pima, emphasizing that both parties will own an undivided one-half interest in the property as joint tenants, which includes the right of survivorship. Key features include shared responsibilities for expenses related to the property, the establishment of a joint checking account for expense management, and specific procedures for selling or transferring interests in the property. It covers the conditions under which one party can sell their interest and how the property's value will be determined over time. The form is particularly useful for attorneys, partners, and legal professionals, as it provides clear guidelines on property ownership dynamics and financial responsibilities, ensuring proper legal protection and clarity for unmarried individuals co-owning property.
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