North Carolina Quitclaim Deed from one Individual to Two Individuals as Joint Tenants with the Right of Survivorship
Understanding this form
This Quitclaim Deed form allows one individual (the grantor) to transfer property to two individuals (the grantees) who will hold the title as joint tenants with rights of survivorship. This means that if one of the grantees passes away, their share of the property automatically transfers to the surviving grantee, rather than being divided among heirs or passing through probate. This form is specifically designed for scenarios where multiple individuals want to co-own real estate and ensure that the surviving party retains the full ownership upon the other's death.
Key components of this form
- Grantor's details: Identification of the individual transferring the property.
- Grantees' details: Names and marital status of the two individuals receiving the property.
- Property description: A clear description of the property being conveyed along with legal references.
- Joint tenancy clause: Specifies that the property is conveyed to the grantees as joint tenants with rights of survivorship.
- Notary section: Area for notarization to validate the deed execution.
Situations where this form applies
This form is typically used in situations where an individual wishes to transfer real estate ownership to two people, ensuring that if one co-owner dies, the other automatically inherits their share. Common scenarios include transferring property to family members, such as children or siblings, or when entering into joint ownership arrangements with friends or partners. It is particularly useful in estate planning to avoid the complexities of probate.
Intended users of this form
This Quitclaim Deed should be used by:
- Property owners looking to transfer their interest in real estate to two individuals.
- Individuals engaged in estate planning who want to establish joint ownership of property.
- Those needing a straightforward method to ensure property passes to a survivor automatically upon death.
How to prepare this document
- Identify the parties: Fill in the full names of the grantor and both grantees.
- Describe the property: Include a detailed description of the property being transferred.
- Specify marital status: Indicate whether the grantor and grantees are married or unmarried.
- Sign the document: Have the grantor sign and date the deed in the presence of a notary public.
- Complete the notary section: Ensure that the notary public certifies the execution of the deed.
Is notarization required?
Notarization is required for this form to take effect. Our online notarization service, powered by Notarize, lets you verify and sign documents remotely through an encrypted video session, available 24/7.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Typical mistakes to avoid
- Failing to accurately describe the property can lead to legal disputes.
- Not having the deed notarized, which can invalidate the transfer.
- Leaving out essential details about grantor or grantee information.
Advantages of online completion
- Convenience: Access and complete the deed from anywhere at any time.
- Editability: Make necessary changes easily before finalizing the document.
- Time-saving: Quickly fill out and print the form without needing to visit an attorney.
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FAQ
While the joint tenant with right of survivorship can't will his share in the property to his heir, he can sell his interest in the property before his death. Once a joint tenant sells his share, this ends the joint tenancy ownership involving the share.
If the son would like to execute a registered gift deed transferring his share in the property in favor of his mother, he can get the gift deed drafted through a document writer, present it for registration before the sub registrar office within the jurisdiction, pay the applicable stamp duty and the registration
Since the joint tenants have equal interest, the property cannot be sold without all parties' consent. Instead of selling, a joint tenant can choose to transfer their interest to another party.Therefore, the property cannot be passed down to the heirs of the joint tenants.
Joint tenancy is a form of property ownership normally associated with real estate. Each party in a joint tenancy has an equal interest in the propertythe financial obligations as well as any benefits.
Step 1: Get a Notice200b200b200b of death f200b200borm. Step 2: Fill in Notice of de200bath form. Step 3: Create an electronic notice of Sale (eNOS) record. Step 4: Get a certified copy200b of the Death Certificate. Step 5: Get the origina200bl Certificate of Title or arrange for it to be produced by the bank.
The deed specifies that the joint tenants own an equal amount of interest in the purchased property and are thus equally liable for it financially.Instead of selling, a joint tenant can choose to transfer their interest to another party.
Property owned in joint tenancy automatically passes, without probate, to the surviving owner(s) when one owner dies. Joint tenancy often works well when couples (married or not) acquire real estate, vehicles, bank accounts, securities, or other valuable property together.
Jointly owned propertyProperty owned as joint tenants does not form part of a deceased person's estate on death. But the value of the deceased person's share of jointly owned property is included when calculating the value of the estate for Inheritance Tax purposes.
Transfer By One Co-Owner- Where one of two or more co-owners of immovable property legally competent in that behalf transfers his share of such property or any interest therein, the transferee acquires, as to such share or interest, so far as is necessary to give effect to the transfer, the transferors right to joint