This form is a Transfer on Death Deed, or Beneficiary Deed, where the Grantors are two individuals, married or unmarried, and the Grantees are three individuals. If one of the Grantees fail to survive the Grantors their interest goes to their estate or the surviving Grantees. This transfer is revocable by Grantors until death and effective only if recorded prior to the last Grantor's death. This deed complies with all state statutory laws.
Little Rock Arkansas Beneficiary / Transfer on Death Deed from Two Individuals to Three Individuals is a legal document that allows the transfer of property ownership from two individuals, known as the granters, to three individuals, known as the grantees, upon the death of the granters. This type of deed is often used as an estate planning tool to ensure the smooth transfer of assets without probate. There are several types of Little Rock Arkansas Beneficiary / Transfer on Death Deed from Two Individuals to Three Individuals, including: 1. Joint Beneficiary Deed: This type of deed ensures that the granters' property is transferred directly to the three designated grantees as joint tenants with rights of survivorship. This means that if one of the grantees passes away, their share automatically goes to the remaining two grantees. 2. Tenants in Common Beneficiary Deed: With this type of deed, the property is transferred to the three grantees as tenants in common, where each individual holds a distinct and separate share. In the event of a grantee's death, their share passes through probate to their designated beneficiaries. 3. Specific Percentage Beneficiary Deed: This deed allows the granters to specify the percentage of ownership that each grantee receives. For example, one grantee may receive a 40% share, while the other two receive 30% each. This type of deed ensures proportional distribution according to the granters' wishes. 4. Successive Beneficiary Deed: This type of deed allows the granters to designate primary and contingent grantees. If a primary grantee is unable or unwilling to accept the property at the time of the granters' death, the contingent grantee will step in and assume ownership. The Little Rock Arkansas Beneficiary / Transfer on Death Deed from Two Individuals to Three Individuals is a valuable tool for individuals who want to ensure the seamless transfer of their property to multiple beneficiaries without the need for probate. By utilizing one of the aforementioned types of deeds, individuals can protect their assets and provide for their loved ones in an efficient and cost-effective manner.Little Rock Arkansas Beneficiary / Transfer on Death Deed from Two Individuals to Three Individuals is a legal document that allows the transfer of property ownership from two individuals, known as the granters, to three individuals, known as the grantees, upon the death of the granters. This type of deed is often used as an estate planning tool to ensure the smooth transfer of assets without probate. There are several types of Little Rock Arkansas Beneficiary / Transfer on Death Deed from Two Individuals to Three Individuals, including: 1. Joint Beneficiary Deed: This type of deed ensures that the granters' property is transferred directly to the three designated grantees as joint tenants with rights of survivorship. This means that if one of the grantees passes away, their share automatically goes to the remaining two grantees. 2. Tenants in Common Beneficiary Deed: With this type of deed, the property is transferred to the three grantees as tenants in common, where each individual holds a distinct and separate share. In the event of a grantee's death, their share passes through probate to their designated beneficiaries. 3. Specific Percentage Beneficiary Deed: This deed allows the granters to specify the percentage of ownership that each grantee receives. For example, one grantee may receive a 40% share, while the other two receive 30% each. This type of deed ensures proportional distribution according to the granters' wishes. 4. Successive Beneficiary Deed: This type of deed allows the granters to designate primary and contingent grantees. If a primary grantee is unable or unwilling to accept the property at the time of the granters' death, the contingent grantee will step in and assume ownership. The Little Rock Arkansas Beneficiary / Transfer on Death Deed from Two Individuals to Three Individuals is a valuable tool for individuals who want to ensure the seamless transfer of their property to multiple beneficiaries without the need for probate. By utilizing one of the aforementioned types of deeds, individuals can protect their assets and provide for their loved ones in an efficient and cost-effective manner.
