Virginia Bargain and Sale Deed - Husband and Wife to Two Individuals as Joint Tenants
What is this form?
This Bargain and Sale Deed is a legal document used to transfer property from a husband and wife to two individuals who will hold the title as joint tenants. It is distinct from other types of deeds in that it does not typically guarantee the property's condition, making it suitable for certain transactions where the grantors wish to convey their interest without additional warranties. This form ensures that both individuals receiving the property have equal rights to the title, including the right of survivorship, meaning that if one passes away, the other automatically inherits the property.
Key components of this form
- Parties involved: Identifies the grantors (husband and wife) and grantees (two individuals).
- Property description: Clearly outlines the real estate being conveyed, ensuring all relevant details are included.
- Joint tenancy clause: Establishes that the grantees will hold the property as joint tenants with right of survivorship.
- Signatures: Requires the signatures of both grantors and potentially a notary public for validation.
- Recordation information: Includes details for recording the deed with the local authority.
Situations where this form applies
This form is useful in situations where a married couple wishes to transfer ownership of property to two separate individuals while creating joint tenancy rights. Common scenarios include transferring the family home to adult children or other relatives, or when restructuring property ownership during estate planning. It can also be used in divorce proceedings when transferring ownership to different parties.
Who needs this form
- Married couples transferring property to two individuals.
- Couples planning to maintain joint tenancy ownership for estate planning purposes.
- Individuals involved in a divorce who need to finalize the transfer of property.
- Anyone who wishes to convey property without additional warranties attached.
Steps to complete this form
- Identify the parties: Provide the legal names of the husband and wife as grantors, and the two individuals as grantees.
- Specify the property: Include a detailed legal description of the property being transferred, including address and any pertinent identifiers.
- Fill in the joint tenancy clause: Ensure it clearly states that the grantees will hold the property as joint tenants with right of survivorship.
- Sign the document: Both grantors must sign and date the form in the designated areas.
- Notarize if needed: Have the document notarized if required under Virginia law.
- Record the deed: Submit the completed deed to the local courthouse for recording in the land records.
Notarization requirements for this form
This form must be notarized to be legally valid. US Legal Forms provides secure online notarization powered by Notarize, allowing you to complete the process through a verified video call.
Get your form ready online
Our built-in tools help you complete, sign, share, and store your documents in one place.
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.
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 being transferred.
- Not including the necessary signatures or dates.
- Neglecting notarization when it is required.
- Overlooking local tax or recording fees associated with the deed transfer.
- Using vague terms in the joint tenancy clause that may lead to misunderstandings among the grantees.
Why use this form online
- Convenience: Complete the form from anywhere, at any time, without needing to visit a legal office.
- Editability: Easily modify the document to fit specific needs before downloading.
- Reliability: Access forms that have been drafted by licensed attorneys, ensuring they meet legal standards.
Main things to remember
- The Bargain and Sale Deed is specifically for transferring property from a husband and wife to two individuals as joint tenants.
- This form is important for ensuring clear joint ownership with survivorship rights.
- Proper completion and notarization of this form are essential for legal effectiveness.
Looking for another form?
Form popularity
FAQ
This is known as 'Severing the Joint Tenancy'. It requires service of a written notice of change the 'severance'. It can be done without the other owner's cooperation or agreement. It is recorded at the Land Registry, and the other owner will know it has been done but only 'after the event' so to speak.
In California, all property bought during the marriage with income that was earned during the marriage is deemed "community property." The law implies that both spouses own this property equally, regardless of which name is on the title deed.
In California, most married couples hold real property (such as land and buildings) as joint tenants with right of survivorship.For instance, many married couples share real property as joint tenants. This way, upon the death of a spouse, the surviving spouse will own 100% share of the property.
In estate law, joint tenancy is a special form of ownership by two or more persons of the same property. The individuals, who are called joint tenants, share equal ownership of the property and have the equal, undivided right to keep or dispose of the property. Joint tenancy creates a Right of Survivorship.
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. Since the joint tenants have equal interest, the property cannot be sold without all parties' consent.
If you look at the registered title to your own jointly owned property and the text isn't shown on it, you own it as joint tenants. If it is there, you own it as tenants-in-common.
In the event that both you and the co-owner of your home would like to get rid of your property without any fuss, you have the option of a partition sale which means that the court will take care of your property sale for you.
For example, if one joint tenant wants to sell the property but the other joint tenant doesn`t want to sell, it is possible to ask for a court order to either physically divide the property or sell it and divide the sales proceeds among the joint tenant owners.
