This form is a Joint Tenancy Deed where the grantor is a corporation and the grantees are two individuals.
A Phoenix Arizona Tenancy in Common Deed from a Corporation to Two Individuals is a legal document that conveys ownership of a property from a corporation to two individuals, and establishes their ownership interests as tenants in common. This type of deed is commonly used when multiple individuals want to own a property together, while maintaining separate and distinct ownership interests. The Tenancy in Common (TIC) deed outlines the specific details of the transfer of ownership, including the legal description of the property and the names of the corporation and the two individuals involved. It also specifies the ownership interests of each individual, which can be equal or unequal depending on their agreement. Each individual's share of ownership is typically expressed as a percentage. The TIC deed also includes provisions related to payment of property taxes, insurance, and maintenance costs, which are typically shared among the co-owners in proportion to their ownership interests. It may also address issues such as access to the property, improvements or renovations, and the right to sell or transfer ownership. In Phoenix, Arizona, there are different types of Tenancy in Common deeds that can be used, depending on the specific circumstances and requirements of the parties involved. These include: 1. General Tenancy in Common Deed: This is the most common type of TIC deed, where the ownership interests of the two individuals are defined clearly and equally. 2. Unequal Tenancy in Common Deed: In this type, the ownership interests of the two individuals are unequal, as agreed upon by them. For instance, one individual may hold a 60% ownership interest, while the other holds 40%. 3. Special Tenancy in Common Deed: This type of TIC deed may include specific provisions and restrictions tailored to the unique needs of the co-owners. For example, it could address issues like the use of certain portions of the property or the right of first refusal. Overall, a Phoenix Arizona Tenancy in Common Deed from a Corporation to Two Individuals establishes the legal framework for shared ownership of a property, ensuring clarity, rights, and responsibilities for all parties involved. It is recommended to consult with a qualified attorney or real estate professional to draft and execute this deed to ensure compliance with local laws and regulations.A Phoenix Arizona Tenancy in Common Deed from a Corporation to Two Individuals is a legal document that conveys ownership of a property from a corporation to two individuals, and establishes their ownership interests as tenants in common. This type of deed is commonly used when multiple individuals want to own a property together, while maintaining separate and distinct ownership interests. The Tenancy in Common (TIC) deed outlines the specific details of the transfer of ownership, including the legal description of the property and the names of the corporation and the two individuals involved. It also specifies the ownership interests of each individual, which can be equal or unequal depending on their agreement. Each individual's share of ownership is typically expressed as a percentage. The TIC deed also includes provisions related to payment of property taxes, insurance, and maintenance costs, which are typically shared among the co-owners in proportion to their ownership interests. It may also address issues such as access to the property, improvements or renovations, and the right to sell or transfer ownership. In Phoenix, Arizona, there are different types of Tenancy in Common deeds that can be used, depending on the specific circumstances and requirements of the parties involved. These include: 1. General Tenancy in Common Deed: This is the most common type of TIC deed, where the ownership interests of the two individuals are defined clearly and equally. 2. Unequal Tenancy in Common Deed: In this type, the ownership interests of the two individuals are unequal, as agreed upon by them. For instance, one individual may hold a 60% ownership interest, while the other holds 40%. 3. Special Tenancy in Common Deed: This type of TIC deed may include specific provisions and restrictions tailored to the unique needs of the co-owners. For example, it could address issues like the use of certain portions of the property or the right of first refusal. Overall, a Phoenix Arizona Tenancy in Common Deed from a Corporation to Two Individuals establishes the legal framework for shared ownership of a property, ensuring clarity, rights, and responsibilities for all parties involved. It is recommended to consult with a qualified attorney or real estate professional to draft and execute this deed to ensure compliance with local laws and regulations.
