Texas General Warranty Deed (To Joint Tenants with Right of Survivorship)

State:
Multi-State
Control #:
US-OG-1018
Format:
Word; 
Rich Text
Instant download

Description

This is a general warranty deed to joint tenants with right of survivorship.

How to fill out General Warranty Deed (To Joint Tenants With Right Of Survivorship)?

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FAQ

This agreement allows property owners to ensure that their ownership interest in the property automatically transfers to the surviving co-owner(s) upon their death, without the need for probate proceedings.

The County Clerk only requires an Affidavit of Death to make the transfer effective. You do not need additional proof of death to take ownership. However, you must give the title company a death certificate, obituary, or other acceptable document if you want to sell the property or use it as collateral.

Those who want to change a tenancy in common to a joint tenancy with right of survivorship may sign a right of survivorship agreement instead of making a new deed. This agreement should be filed with the county clerk where the property exists, just as a deed would be.

Unlike most states Texas does not automatically recognize joint tenancies as having a right of survivorship. Instead the parties must agree, in writing, to include a right of survivorship. Contact our offices to discuss your situation with our experienced real estate attorneys.

For spouses: Assets in JTWROS accounts may get a step-up on cost basis when either spouse passes away. This can help reduce capital gains taxes when selling a property, but you can only step-up half of the full value of the asset. This 50% step-up represents the portion owned by the joint owner who died.

As a property owner and grantor, you can obtain a warranty deed for the transfer of real estate through a local realtor's office, or with an online search for a template. To make the form legally binding, you must sign it in front of a notary public.

A general warranty deed must include the following to be valid: The name and address of the seller (called the grantor) The name and address of the buyer (called the grantee) A legal description of the property (found on the previous deed) A statement that the grantor is transferring the property to the grantee.

Have a ?Survivorship Rights? remark placed on the Texas title: Submit this completed Form VTR-122 with an Application for Texas Title and/or Registration (Form 130-U) to a county tax assessor-collector's office. In addition to the remark, up to two names can be printed as survivors on the Texas title.

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Texas General Warranty Deed (To Joint Tenants with Right of Survivorship)