This form is a Grant Deed where the grantor is a corporation and the grantees are three individuals holding title as joint tenants.
A Long Beach California Grant Deed — Corporation to Three Individuals as Joint Tenants refers to a legal document that grants ownership of a property from a corporation to three individuals as joint tenants. This type of deed is commonly used when a corporation decides to transfer title or ownership of a property to multiple individuals while establishing joint tenancy. In this arrangement, "Long Beach California" specifies the jurisdiction where the grant deed is being executed. Long Beach is a coastal city in Southern California, known for its beautiful beaches and vibrant community. A "grant deed" is a legal instrument used to transfer ownership of real property from one party, in this case, a corporation, to another party, the three individuals. It certifies that the property is being transferred without any encumbrances or claims that might affect the grantee's ownership rights. The term "Corporation" refers to a legal entity, often formed by individuals, for the purpose of conducting business or holding assets. The corporation acts as the granter or the party transferring ownership in this deed. "Three Individuals" indicates that the property is being transferred to three named individuals. Joint tenancy is a specific form of property ownership where each individual holds an equal share of the property, and in the event of death, the surviving joint tenants automatically acquire the deceased's share. Different variations of Long Beach California Grant Deed — Corporation to Three Individuals as Joint Tenants may include the following: 1. Long Beach California Grant Deed — Corporation to Three Individuals as Joint Tenants with Right of Survivorship: This type of grant deed ensures that in case one of the joint tenants passes away, their share automatically passes to the surviving joint tenants, rather than their heirs or beneficiaries. 2. Long Beach California Grant Deed — Corporation to Three Individuals as Joint Tenants in Common: This variant of the grant deed sets up joint tenancy, but with the provision that each joint tenant holds a specific percentage or fractional interest in the property. Upon death, the deceased joint tenant's share passes to their heirs or beneficiaries, rather than the surviving joint tenants. It's crucial to consult with a qualified real estate attorney or legal professional when dealing with grant deeds, as they can guide you through the specific requirements and legalities of transferring property ownership in Long Beach, California.
