This form is a Special Warranty Deed where the Grantors are husband and wife, or two individuals, and the Grantee is an individual. Grantors grant and covey the described property to Grantee. Grantors warrant and will defend the property against only those claiming by, through or under Grantors and not otherwise. This deed complies with all state statutory laws.
A Surprise Arizona Special Warranty Deed is a legal document that signifies the transfer of property ownership from two individuals or a married couple to an individual buyer. This deed provides a limited guarantee against any defects or claims on the title, which may have occurred during the time the sellers owned the property. It is crucial to understand the various types of Surprise Arizona Special Warranty Deeds to ensure the buyer's protection and clarity during the property transaction. 1. Surprise Arizona Special Warranty Deed with Survivorship: In this type of deed, if one spouse passes away, their ownership interest in the property automatically transfers to the surviving spouse. This ensures that the property remains solely in the hands of the surviving spouse, eliminating the need for probate or other legal procedures. 2. Surprise Arizona Special Warranty Deed without Survivorship: With this kind of deed, each spouse individually retains their ownership interest in the property. In the event of the death of one spouse, their interest is passed on to their heirs or as stated in their will. It's essential to clearly specify the distribution of ownership in case of either spouse's demise. 3. Surprise Arizona Special Warranty Deed as Joint Tenants: In this scenario, both spouses equally own the property and have rights of survivorship. In case one spouse passes away, their ownership share automatically transfers to the surviving spouse. The surviving spouse will then hold 100% ownership of the property. 4. Surprise Arizona Special Warranty Deed as Tenants in Common: This deed type enables spouses to individually own specific shares of the property, which may or may not be equal. Unlike Joint Tenancy, there is no automatic transfer of ownership in the event of one spouse's death. The deceased spouse's share would be distributed as per their will or inheritance laws. When entering into a property transaction involving a Surprise Arizona Special Warranty Deed, it is crucial to consult with a qualified real estate attorney who can guide you through the legalities and ensure all necessary clauses and provisions are included. This will protect the buyer's interests and provide a smooth transfer of ownership from the sellers to the individual buyer.
