Oregon Bargain and Sale Deed for Individuals or Husband and Wife as Grantor
What is this form?
The Bargain and Sale Deed for Individuals or Husband and Wife as Grantor is a legal document that transfers ownership of real estate from one party to another, where the grantees hold title as joint tenants with right of survivorship. This form is specifically important for individuals or couples looking to ensure that in the event of one ownerâs death, the surviving owner automatically retains full ownership of the property. It is different from other deed forms, like warranty deeds, as it does not carry warranties regarding the title of the property being transferred.
Key parts of this document
- Identification of grantor(s) and grantee(s) involved in the transfer.
- Description of the property being transferred, including legal description.
- Statement of considerationâtypically the payment made for the property.
- Clause establishing joint tenancy with right of survivorship for grantees.
- Signatures and dates for all parties involved to validate the deed.
When to use this form
This form should be used when individuals or a married couple wish to transfer ownership of real estate property to themselves, ensuring that they hold the property as joint tenants. It is commonly used for family properties, purchases between spouses, or situations where shared ownership is intended. Utilizing this form helps facilitate a smooth transfer while protecting the rights of both parties in regard to survivorship.
Who needs this form
Individuals or couples in the following situations should consider using this form:
- Married couples wanting to jointly own a property.
- Unmarried individuals or partners desiring joint ownership.
- Anyone transferring property to a family member to ensure survivorship rights.
- Property owners seeking to establish joint tenancy with another owner.
Completing this form step by step
- Identify the grantor(s) and grantee(s) by entering their full legal names.
- Provide a clear description of the property including its legal description.
- Enter the consideration amount to indicate what is being exchanged for the title.
- Specify that the grantees will hold title as joint tenants with right of survivorship.
- Have all parties sign and date the deed to finalize the transfer.
Does this document require notarization?
To make this form legally binding, it must be notarized. Our online notarization service, powered by Notarize, lets you verify and sign documents remotely through an encrypted video session.
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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 complete the legal description of the property accurately.
- Not specifying the joint tenancy clause, which could lead to confusion about ownership rights.
- Omitting signatures from all grantors and grantees, making the deed invalid.
- Not verifying state-specific requirements for notarization or recording.
Benefits of using this form online
- Convenience of completing the form from your home or office.
- Editability, allowing for easy corrections and additions.
- Access to forms drafted by licensed attorneys, ensuring legal validity.
- Efficient downloading and printing options for immediate use.
Main things to remember
- The Bargain and Sale Deed allows for joint tenancy with right of survivorship.
- Properly complete and notarize the form for validity.
- Check state-specific requirements before use.
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FAQ
Buying property with this type of deed is not necessarily a bad idea, but it is advisable to take some precautions. If possible, a title search should be conducted to look for any clouds on the title and to see how difficult it would be to release them.
The quitclaim deed provides no warranties; it conveys the interest the grantor had in the propertynothing more.The bargain and sale deed indicates that the grantor has title; but property might come with encumbrances and defects.
Bargain and sale deeds are statutory in Oregon under ORS 93.860. A bargain and sale deed conveys the grantor's "entire interest in the described property at the date of the deed which the deed purports to convey" but does not provide covenants of title (ORS 93.860(2, 3)).
A quitclaim deed only transfers the grantor's interests in a piece of real estate. It does not create any warranties on the title.A warranty deed contains a guarantee that the grantor has legal title and rights to the real estate. A quitclaim deed offers little to no protection to the grantee.
Quitclaim deeds are most often used to transfer property between family members. Examples include when an owner gets married and wants to add a spouse's name to the title or deed, or when the owners get divorced and one spouse's name is removed from the title or deed.
Bargain and sale deeds are most often used when property is transferred after a foreclosure, tax sale, or the settlement of a deceased person's estate. They may also be used in the same situations as a quitclaim deed, although they give the grantee a little more protection.