This form is a Quitclaim Deed where the Grantors are two individuals and the Grantees are three individuals. Grantors convey and quitclaim the described property to Grantees. Grantees take the property as tenants in common or joint tenants with the right of survivorship. This deed complies with all state statutory laws.
A Maricopa Arizona Quitclaim Deed is a legal document that transfers the ownership rights of a property from two individual Granters to three individual Grantees. This type of deed is commonly used when the Granters want to release their interests in the property without making any warranties or guaranteeing the title's validity. The Maricopa Arizona Quitclaim Deed ensures that the Granters willingly transfer their rights, if any, in the property to the Grantees. It explicitly states that the Granters provide no guarantee or warranty regarding the state of the property title, existing liens or encumbrances, or any other potential legal issues. With this deed, the Granters essentially relinquish any potential claim they have on the property and transfer it to the Grantees. There are different versions and variations of the Maricopa Arizona Quitclaim Deed from two individual Granters to three individual Grantees. Some of these include: 1. Maricopa Arizona Quitclaim Deed with Joint Tenancy: In this type of deed, the three individual Grantees become joint tenants. This means that they hold equal rights to the property, and in the event of the death of one of the Grantees, their share automatically transfers to the surviving Grantees. 2. Maricopa Arizona Quitclaim Deed with Tenancy in Common: This variant of the quitclaim deed allows the three individual Grantees to own distinct shares of the property. Each Grantee's share can be of unequal size or value. In case of the death of one of the Grantees, their share does not automatically transfer to the other Grantees but passes on according to their will or applicable inheritance laws. 3. Maricopa Arizona Quitclaim Deed with Rights of Survivorship: With this type of deed, the three individual Grantees have equal rights to the property, similar to joint tenancy. However, if one of the Grantees passes away, their share automatically transfers to the surviving Grantees, ensuring that the property does not have to go through probate. It is important to note that each version of the Maricopa Arizona Quitclaim Deed may have specific requirements or conditions set forth by local laws or regulations. Consulting with a real estate attorney or professional is advisable to ensure compliance and protect the rights of all parties involved.
