This Quitclaim Deed from Individual to Two Individuals in Joint Tenancy form is a Quitclaim Deed where the Grantor is an individual and the Grantees are two individuals. Grantor conveys and quitclaims the described property to Grantees less and except all oil, gas and minerals, on and under the property owned by Grantor, if any, which are reserved by Grantor. This form complies with all state statutory laws.
Washington Quitclaim Deed from Individual to Two Individuals in Joint Tenancy
Category:
State:
Washington
Control #:
WA-02A-77
Format:
Word;
Rich Text
Instant download
Description
Definition and meaning
A Washington Quitclaim Deed from Individual to Two Individuals in Joint Tenancy is a legal document used to transfer property ownership from one person (the Grantor) to two individuals (the Grantees) who share the property in joint tenancy. In joint tenancy, both parties have equal rights to the property, and if one owner passes away, the surviving owner automatically inherits the deceased owner's share.
How to complete a form
Completing the Washington Quitclaim Deed is a straightforward process. Follow these steps:
- Begin by entering the Grantor's name, indicating whether they are married or unmarried.
- Fill in the names of the Grantees, also noting their marital status.
- Describe the property being transferred clearly, using the phrase "SEE DESCRIPTION ATTACHED" to refer to a separate document if necessary.
- Include the Assessor's Property Tax Parcel/Account Number for precise identification.
- State any reservations such as oil, gas, and minerals not being included in the transfer.
- Specify any tax obligations for the year of the transfer.
- Finally, have the Grantor sign the form in the presence of a notary public.
Who should use this form
This form is suitable for individuals looking to transfer property ownership to two other individuals while establishing joint tenancy. It is commonly used in scenarios such as estate planning, where a Grantor wishes to ensure that their property is passed on to two heirs who will be co-owners, thereby avoiding probate issues.
Key components of the form
The Washington Quitclaim Deed includes several important components:
- Grantor Information: Details about the individual transferring the property.
- Grantee Information: Names and marital status of the two individuals receiving the property.
- Property Description: A detailed description of the property, including the Assessor’s Property Tax Parcel Number.
- Easements and Reservations: Any rights or reservations that are not being transferred with the property.
- Tax Information: Specifications regarding the property taxes associated with the transfer.
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How to fill out Washington Quitclaim Deed From Individual To Two Individuals In Joint Tenancy?
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FAQ
A quitclaim deed is a deed (proof of ownership) that is passed from a grantor (the existing property owner) to a grantee (the new property owner) that does not have a warranty.A quitclaim deed has no guarantees for the grantor or grantee.
A quitclaim deed affects ownership and the name on the deed, not the mortgage. Because quitclaim deeds expose the grantee to certain risks, they are most often used between family members and where there is no exchange of money.Quitclaim deeds transfer title but do not affect mortgages.
A quitclaim deed transfers title but makes no promises at all about the owner's title.A person who signs a quitclaim deed to transfer property they do not own results in no title at all being transferred since there is no actual ownership interest. The quitclaim deed only transfers the type of title you own.
The Washington quit claim deed form gives the new owner whatever interest the current owner has in the property when the deed is signed and delivered. It makes no promises about whether the current owner has clear title to the property.
The drawback, quite simply, is that quitclaim deeds offer the grantee/recipient no protection or guarantees whatsoever about the property or their ownership of it. Maybe the grantor did not own the property at all, or maybe they only had partial ownership.
If the quitclaim deed requires the signature of all co-owners, the deed is invalid unless all co-owners have signed it and the deed is then delivered to the grantee.If one individual owns real estate and desires to add a co-owner such as a spouse, a quitclaim deed might be used.
A quitclaim deed is quick and easy because it transfers all of one person's interest in the property to another.The deed transfers all claims the seller has to the property, if any. If the seller has no interest in the real estate, no interest is transferred.