This form is a Grant Deed where the grantors are two individuals and the grantees are three individuals holding title as joint tenants.
Orange California Grant Deed — Two Individuals to Three Individuals as Joint Tenants The Orange California Grant Deed — Two Individuals to Three Individuals as Joint Tenants is a legal document used to transfer ownership of real estate property located in Orange County, California. This type of grant deed involves two individuals as granters (sellers) and three individuals as grantees (buyers) who will collectively hold the property as joint tenants. When two individuals decide to transfer ownership of a property to three individuals as joint tenants, it means that all three grantees will have an equal and undivided interest in the property. This type of joint tenancy offers certain benefits and rights to the owners. It ensures that if one owner passes away, their share of the property automatically transfers to the surviving owners, bypassing the need for probate. The Orange California Grant Deed — Two Individuals to Three Individuals as Joint Tenants typically includes the following key information: 1. Legal Description: The exact legal description of the property, including its address, lot and block number, and any other relevant information required for identification purposes. 2. Granters: The names, addresses, and signatures of the two individuals who are selling or transferring the property. 3. Grantees: The names, addresses, and signatures of the three individuals who are purchasing the property and becoming joint tenants. 4. Consideration: The agreed-upon consideration (usually the purchase price) for the property being transferred from the granters to the grantees. 5. Encumbrances: Any existing liens or encumbrances on the property that the grantees will inherit or assume responsibility for. 6. Legal Language: Specific language stating that the granters have the full legal right to transfer the property and that the grant deed is valid and legally binding. Different types or variations of the Orange California Grant Deed — Two Individuals to Three Individuals as Joint Tenants may include: — Variation with Survivorship Rights: This type of grant deed explicitly states that the joint tenancy between the three grantees includes survivorship rights. It ensures that if one owner passes away, their share automatically transfers to the surviving owners. — Variation with Equal Shares: This type of grant deed states that the three grantees will hold equal shares of the property, regardless of any initial investments or financial contributions made by each individual. — Variation with Unequal Shares: This type of grant deed specifies that the three grantees will hold unequal shares of the property based on their agreed-upon percentages or contributions. It's essential to consult with a qualified real estate attorney or professional when preparing and executing an Orange California Grant Deed — Two Individuals to Three Individuals as Joint Tenants to ensure compliance with local laws and to address any specific requirements or concerns related to the property transfer.
