This form is a Warranty Deed for Condominium Unit where the Grantor is an individual and the Grantees are three individuals. Grantor conveys and warrants the described property to the Grantees. This deed complies with all state statutory laws.
A Phoenix Arizona Warranty Deed for a Condominium Unit from an Individual to Three Individuals is a legal document that facilitates the transfer of ownership of a condominium unit from a single individual to three other individuals. This type of warranty deed ensures that the seller (the individual transferring ownership) guarantees that they own the property, it is free from any liens or encumbrances, and they have the legal authority to sell it. In Phoenix, there may be two different variations of a warranty deed for a condominium unit transfer from an individual to three individuals. These variations can include: 1. General Warranty Deed: This type of warranty deed provides the highest level of protection to the buyers, known as grantees. The seller guarantees the title against any defects or claims that might have arisen before or during their ownership of the property. If any issues arise, the seller is responsible for compensating the grantees for any losses incurred. 2. Special Warranty Deed: This type of warranty deed is slightly different from the general warranty deed. While the seller still guarantees clear title, they limit their responsibility to defects or claims that arose only during their ownership of the property. Any defects or claims that existed before they acquired the property are not covered. Special warranty deeds are commonly used in commercial real estate transactions. The Phoenix Arizona Warranty Deed for a Condominium Unit will typically include specific details relevant to the property and the transaction. Some relevant keywords that can be found in the deed may include: 1. Property description: This section includes the legal description of the condominium unit, often sourced from the official records of the county or municipality. It will provide a precise identification of the unit within the condominium complex. 2. Granter: The individual who currently owns the condominium unit and is selling the property. 3. Grantees: The three individuals who will become the owners of the condominium unit. Their full names and addresses will be mentioned in the deed. 4. Consideration: The amount of money, or any other form of payment, agreed upon between the parties involved in the transaction. It is the price at which the property is being sold. 5. Conveyance language: This section clearly states the intention of the granter to transfer ownership of the property to the grantees. 6. Covenants and warranties: This part of the deed outlines the specific promises made by the granter. It may include guarantees such as the granter's lawful ownership of the property, absence of liens or encumbrances, and the granter's responsibility for future defects or claims. 7. Signatures and notarization: All parties involved in the transaction must sign the warranty deed in the presence of a notary public, who will then acknowledge the signatures and apply a seal to the document. It is important to note that this is a general description of what a Phoenix Arizona Warranty Deed for a Condominium Unit from an Individual to Three Individuals may entail, and it is always advisable to consult with a qualified real estate attorney or title company to ensure accuracy and compliance with local laws and regulations.
