This form is a Warranty Deed where the grantor is an individual and the grantees are husband and Wife. Grantor conveys and warrants the described property to the grantees as tenants in common. This deed complies with all state statutory laws.
A warranty deed is a legal document that transfers ownership of real estate from an individual to a married couple, specifically as tenants in common. In Philadelphia, Pennsylvania, this type of deed is commonly used to establish joint ownership of residential properties. A warranty deed ensures that the individual transferring the property, known as the granter, guarantees that they legally own the property and have the right to sell it. It also guarantees that the property is free from any undisclosed liens or encumbrances. When an individual transfers property to a married couple as tenants in common through a warranty deed, it means that each spouse has an equal, undivided ownership interest in the property. This ownership structure allows each spouse to pass on their share of the property to their heirs upon their death. There are two main types of Philadelphia Pennsylvania Warranty Deed — Individual to Husband and Wife as Tenants in Common: 1. General Warranty Deed — This type of warranty deed offers the highest level of protection to the new owners. It guarantees that the granter will defend the title against any claims that arise before or during their ownership. It also assures that the granter will compensate the new owners for any financial losses incurred due to title defects. 2. Special Warranty Deed — Unlike a general warranty deed, a special warranty deed only offers limited guarantees. It protects the new owners solely against claims or issues that arise during the granter's ownership of the property. It does not provide protection against any claims or title defects that existed prior to the granter's ownership. When using a Philadelphia Pennsylvania Warranty Deed — Individual to Husband and Wife as Tenants in Common, it is vital to ensure that all parties involved understand their rights and obligations. Seeking legal advice from a real estate attorney is highly recommended navigating the complexities of property ownership and transfer. Whether you are buying or selling property in Philadelphia, a warranty deed provides legal protection and peace of mind to the new owners. Understanding the different types of warranty deeds available and their implications is crucial for a successful property transaction.A warranty deed is a legal document that transfers ownership of real estate from an individual to a married couple, specifically as tenants in common. In Philadelphia, Pennsylvania, this type of deed is commonly used to establish joint ownership of residential properties. A warranty deed ensures that the individual transferring the property, known as the granter, guarantees that they legally own the property and have the right to sell it. It also guarantees that the property is free from any undisclosed liens or encumbrances. When an individual transfers property to a married couple as tenants in common through a warranty deed, it means that each spouse has an equal, undivided ownership interest in the property. This ownership structure allows each spouse to pass on their share of the property to their heirs upon their death. There are two main types of Philadelphia Pennsylvania Warranty Deed — Individual to Husband and Wife as Tenants in Common: 1. General Warranty Deed — This type of warranty deed offers the highest level of protection to the new owners. It guarantees that the granter will defend the title against any claims that arise before or during their ownership. It also assures that the granter will compensate the new owners for any financial losses incurred due to title defects. 2. Special Warranty Deed — Unlike a general warranty deed, a special warranty deed only offers limited guarantees. It protects the new owners solely against claims or issues that arise during the granter's ownership of the property. It does not provide protection against any claims or title defects that existed prior to the granter's ownership. When using a Philadelphia Pennsylvania Warranty Deed — Individual to Husband and Wife as Tenants in Common, it is vital to ensure that all parties involved understand their rights and obligations. Seeking legal advice from a real estate attorney is highly recommended navigating the complexities of property ownership and transfer. Whether you are buying or selling property in Philadelphia, a warranty deed provides legal protection and peace of mind to the new owners. Understanding the different types of warranty deeds available and their implications is crucial for a successful property transaction.
