Alabama Granting Clause
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How to fill out Granting Clause?
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FAQ
An easement provides the grantee with the right to use the non-owning property in a certain way. The grantee does not legally own or possess the property, they can only use the property for whatever specific purpose is described in the agreement.
In Alabama, this form of joint ownership is available: Joint tenancy. Property owned in joint tenancy automatically passes to the surviving owners when one owner dies. No probate is necessary.
Alabama: Alabama does not recognize joint tenancy by the entirety, and therefore, we recognize husband and wife as tenants in common. Each is free to dispose of this ownership interest.
If transfer involves a deceased owner and owner's estate has not and will not be probated, then the individual signing on behalf of deceased owner's estate must provide a Next of Kin Affidavit (MVT 5-6) and a copy of the deceased owner's death certificate. See Administrative Rule: 810-5-75-.
Unlike some states, Alabama does not currently allow the use of TOD deeds for real estate. Instead, other instruments such as joint tenancy or revocable living trusts are typically used to avoid probate when transferring real estate upon death.
If you pass away with no surviving children, during probate your spouse will receive the first $100,000 of your estate and half of the remaining balance. Front here, your parents and siblings will receive a share of any leftover assets, respectively. Of course, Alabama Intestate Succession Laws are technically finite.
If the owner of a jointly-owned property dies, the surviving owner will typically receive full ownership of the home. In most states, the property will completely avoid Probate and be transferred directly to the surviving owner.
Alabama Code § 35-4-7 states that ?in the event it is stated in the instrument creating such tenancy that such tenancy is with right of survivorship or other words used therein showing such intention, then, upon the death of one joint tenant, his interest shall pass to the surviving joint tenant or tenants ing to ...