This form is a Warranty Deed where the grantors are husband and wife and the grantees are five individuals holding title as joint tenants.
A Phoenix Arizona Warranty Deed for Husband and Wife to Five Individuals as Joint Tenants is a legal document that transfers ownership of a property in Phoenix, Arizona, from a married couple to five individuals as joint tenants. A warranty deed is a type of deed that provides a guarantee, or warranty, from the seller (in this case, the husband and wife) that they are the legal owners of the property and have the right to transfer ownership. This deed ensures that the new owners (the five individuals) will hold the property free and clear of any claims or liens. In this specific case, the warranty deed is for a married couple (husband and wife) who are transferring ownership to five individuals. The use of the term "joint tenants" means that all five individuals will have an equal and undivided interest in the property. They will share ownership rights, including the right of survivorship, meaning that if one owner were to pass away, their share of the property automatically passes to the remaining owners. It is worth noting that there may be variations of the Phoenix Arizona Warranty Deed for Husband and Wife to Five Individuals as Joint Tenants, depending on specific circumstances or requirements. Some possible variations or types of warranty deeds that could apply in this situation include: 1. General Warranty Deed: This type of deed provides the broadest protection to the new owners, as it guarantees the property's title against any claims, even if they occurred before the current owners acquired the property. 2. Special Warranty Deed: This type of deed also provides a warranty, but it is limited to any claims or issues that may have arisen during the period when the current owners held the property. It does not cover any earlier claims or issues. 3. Quitclaim Deed: Unlike warranty deeds, a quitclaim deed does not provide any warranty or guarantee regarding the property's title. It simply transfers whatever ownership interest or claim the current owners have to the new owners. It is recommended to seek advice from legal professionals or local authorities to ensure the specific requirements and options for a Phoenix Arizona Warranty Deed for Husband and Wife to Five Individuals as Joint Tenants are met.
