This form is a Special Warranty Deed where the Grantor is a Corp. and the Grantees are husband and wife / two individuals. Grantor conveys and specially warrants the described property to the Grantees. The Grantor only warrants and will defend the property only as to claims of persons claiming by, through or under Grantors, but not otherwise. This deed complies with all state statutory laws.
Allentown Pennsylvania Special Warranty Deed from Corp. to Husband and Wife / Two Individuals is a legal document that transfers ownership of real property from a corporation to a married couple or two individuals. This type of deed provides certain guarantees regarding the property title, but with more limited assurances compared to a general warranty deed. The Allentown Pennsylvania Special Warranty Deed from Corp. to Husband and Wife / Two Individuals ensures that the corporation granting the deed holds legal title to the property and has the authority to transfer it. This type of deed guarantees that the property has not been encumbered or transferred to anyone else during the corporation's ownership period, except as stated in the deed itself. There are different variations of the Allentown Pennsylvania Special Warranty Deed from Corp. to Husband and Wife / Two Individuals, including: 1. Allentown Pennsylvania Special Warranty Deed with Survivorship: This variation establishes joint tenancy with rights of survivorship between the husband and wife or two individuals. It ensures that if one party passes away, the other automatically receives full ownership of the property, without the need for probate. 2. Allentown Pennsylvania Special Warranty Deed as Tenants in Common: This type of deed allows the husband and wife or two individuals to hold the property as tenants in common. It means that each party has a distinct share of ownership, which can be proportionate or disproportionate based on their agreement. In case of death, the deceased individual's share is not automatically transferred to the other party but instead distributed according to their will or through the probate process. 3. Allentown Pennsylvania Special Warranty Deed with Life Estate: This variation grants the husband and wife or two individuals ownership rights to the property for the duration of their lifetimes. Upon the death of either party, the property passes to the specified beneficiaries or reverts to the previous owner or corporation. When preparing an Allentown Pennsylvania Special Warranty Deed from Corp. to Husband and Wife / Two Individuals, it is essential to consult with a qualified real estate attorney to ensure the document is correctly drafted and executed.
