Joint Tenants Or Tenants In Common On Death In Tarrant
Category:
State:
Multi-State
County:
Tarrant
Control #:
US-00414BG
Format:
Word;
Rich Text
Instant download
Description
The Agreement by Unmarried Individuals to Purchase and Hold Residence as Joint Tenants is a legal document designed for unmarried individuals acquiring property together. It establishes joint tenancy with the right of survivorship, ensuring that upon the death of one tenant, their interest automatically passes to the surviving tenant. This document outlines responsibilities for property expenses, including mortgage, taxes, and utilities, which each party agrees to pay equally. It also describes the procedure for selling or transferring shares of the property, emphasizing that no party may encumber their interest without consent. Specific sections detail the establishment of a joint checking account for managing shared expenses. This agreement serves to protect both parties by governing the property ownership, facilitating decision-making, and preventing disputes. The form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants looking to create clear and enforceable agreements pertaining to property ownership. Its straightforward language and structure make it accessible, even for users with limited legal experience.
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