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Alabama Warranty Deed to Tenants in Common

Tenants In Common Alabama

Name: Alabama Warranty Deed to Tenants in Common
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.66 (487 reviews)

Category:

Alabama Real Estate - Deeds - Warranty

State:

Alabama

Control #:

AL-005-03-CP

Format:

Instant download

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Description Copy Of Deed

This type of deed warrants that the grantor is the lawful owner of the property at the time the deed is made and delivered and that the grantor has the right to convey the property. This form is used to convey property to more than one individual as tenants in common. The form is available in both word and word perfect formats.

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Warranty Deed Tenants In Common

FAQ

Joint tenancy creates survivorship rights: If one owner dies, the share automatically passes to the surviving owner. You can terminate joint tenancy by transferring your share to the other tenant. A joint tenant also has the right to sell or gift his share to another party.

Typically, the lender will provide you with a copy of the deed of trust after the closing. The original warranty deeds are often mailed to the grantee after they are recorded. These are your original copies and should be kept in a safe place, such as a fireproof lockbox or a safe deposit box at a financial institution.

Let's start with the definition of a deed: DEED: A written instrument by which one party, the Grantor, conveys the title of ownership in property to another party, the Grantee. A Warranty Deed contains promises, called covenants, that the Grantor makes to the Grantee.

To make the form legally binding, you must sign it in front of a notary public. You must then file your signed and notarized deed with the county office that's in charge of recording property documents. Once the grantee signs the warranty deed, he/she legally has ownership and claim to the property.

It's important to note that a warranty deed does not actually prove the grantor has ownership (a title search is the best way to prove that), but it is a promise by the grantor that they are transferring ownership and if it turns out they don't actually own the property, the grantor will be responsible for compensating

Although not required, hire a title company that will help with the deed modification process. Create a new document called a deed transfer. Each owner will sign the new deed in the presence of a notary, who will make the document official with a stamp.

There is no formal process that transitions from joint tenants to tenants-in-common. Instead, the joint tenants must be terminated and new tenants in common created.

The deed must be signed by all grantors, in front of a qualified notary, and notarized by the notary to be complete. Contact the local county recorder's office to find out what type of notaries are allowed to notarize deeds and where the notaries are located.

If you're joint tenants and you both want to leave, either you or your ex-partner can end the tenancy by giving notice.If your landlord doesn't update the tenancy agreement, you'll both still be responsible for rent and the person who leaves can still give notice to end the tenancy.

Tenants In Common Alabama

Description Copy Of Deed

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FAQ

Can joint tenancy be transferred?

Who keeps original warranty deed?

What is the difference between a deed and a warranty deed?

How do you sign a warranty deed?

Does a warranty deed prove ownership?

How do I convert joint tenancy to tenants in common?

How do I change from joint tenancy to tenants in common?

How do you notarize a warranty deed?

What happens if one person wants to leave a joint tenancy?

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