A Virginia General Warranty Deed (To Joint Tenants with Right of Survivorship) is a legal document used in the state of Virginia to transfer property ownership from one party to another. This type of deed provides the highest level of protection for the buyer (grantee) by guaranteeing that the property title is free from any encumbrances or claims of ownership. A General Warranty Deed conveys the property with a "covenant of basin," meaning that the granter (seller) warrants that they are the true owner of the property and have the legal right to transfer it. It also includes a "covenant of right to convey," assuring that they have the authority to sell the property. In addition, the deed includes a "covenant against encumbrances," ensuring that there are no outstanding debts, liens, or other claims on the property. When a General Warranty Deed is specifically made to Joint Tenants with Right of Survivorship, it implies that the property is owned by two or more individuals who have an equal right to the property. In case of the death of one joint tenant, the surviving tenants automatically acquire the deceased tenant's share without the need for probate or other legal procedures. This form of ownership is commonly used by married couples, family members, or business partners. There are no distinct variations of a Virginia General Warranty Deed (To Joint Tenants with Right of Survivorship) specifically, as it refers to the manner of ownership rather than specific legal provisions. However, there may be variations in how the deed is drafted or formatted, but the essential elements mentioned above should always be included. Keywords: Virginia, General Warranty Deed, Joint Tenants, Right of Survivorship, property ownership, legal document, transfer, protection, title, encumbrances, claims, covenant of basin, covenant of right to convey, covenant against encumbrances, joint tenancy, probate, married couples, family members, business partners.
Virginia General Warranty Deed (To Joint Tenants with Right of Survivorship)
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How to fill out General Warranty Deed (To Joint Tenants With Right Of Survivorship)?
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FAQ
A joint tenant with the right of survivorship is a legal ownership structure involving two or more parties for an account or another asset. Each tenant has an equal right to the account's assets and is afforded survivorship rights if the other account holder(s) dies.
There are two types of tenancies that possess the right of survivorship: joint tenancy and tenancy by the entirety.
A deed of gift must be signed by all parties, notarized by a Virginia notary, and witnessed by two or more parties who have no ownership interest in the property. The deed must be submitted to the recorder's office in the county of Virginia where the property exists.
Several easy-to-follow steps are required to create a Virginia deed: Locate the most recent deed to the property. ... Create the new deed. ... Sign and notarize the new deed. ... Record the deed in the land records of the clerk's office of the circuit court in the jurisdiction where the property is located.
Standard Requirements for Recording All documents must have original signatures. NO PHOTOCOPIES ACCEPTED. If the document is handwritten, it must be legible. Print quality must be legible for the scanner to read and produce an acceptable image.
Joint tenancy includes the common law right of survivorship, provided it is set out in the deed. Upon death of a joint tenant, title remains in the surviving joint tenant without further action. You can't leave joint tenancy property to someone else in your will.
Can I prepare my own deed? The Clerk's Office Land Records Department will accept a deed prepared by a property owner or an attorney, who is a member of the Virginia Bar. The document must meet all recording standards.
Typically, deeds contain the name of the current owner (the ?Grantor?), the name of the new owner (the ?Grantee?), the legal description of the real property, and the signature (notarized) of the Grantor. The deed will also describe how title is being held by the Grantee.
