This form is a Grant Deed where the grantor is a corporation and the grantees are three individuals holding title as joint tenants.
A San Jose California Grant Deed — Corporation to Three Individuals as Joint Tenants is a legal document that transfers ownership of a property from a corporation to three individuals, who then become joint tenants. This type of deed is commonly used when a corporation wants to transfer ownership of a property it owns to multiple individuals as joint tenants. A grant deed is a legal instrument used to transfer ownership rights of real property in California. It contains specific language that assures the granter (in this case, the corporation) has clear title and the right to transfer the property to the grantees (the three individuals). It also warrants that the property has not already been transferred to someone else. In this particular deed, ownership of the property is transferred to three individuals as joint tenants. Joint tenancy is a form of concurrent ownership where each tenant has an equal and undivided interest in the property. This means that all three individuals have an equal share in the property and have the right to use, sell, or transfer their share. In the event of the death of one joint tenant, their share automatically passes to the surviving joint tenants without going through the probate process. It's worth mentioning that there may be variations or different names for this type of deed in San Jose, California. Some possible variations include: 1. San Jose California Grant Deed — Corporation to Three Individuals as Joint Tenants with Right of Survivorship: This version of the deed adds the right of survivorship, meaning that if one joint tenant passes away, their share automatically passes to the surviving joint tenants, avoiding the need for probate. 2. San Jose California Grant Deed — Corporation to Three Individuals as Joint Tenants in Common: This version of the deed would mean that the three individuals hold a joint tenancy in common, where each tenant has a specific percentage of ownership in the property. In the event of a joint tenant's death, their interest would not automatically pass to the surviving tenants but would instead be distributed according to their will or the laws of intestate succession. In conclusion, a San Jose California Grant Deed — Corporation to Three Individuals as Joint Tenants is a legal document used to transfer ownership of a property from a corporation to three individuals as joint tenants. The deed ensures clear title and grants equal and undivided interest to each individual. Different variations of this deed may exist, such as including the right of survivorship or holding the joint tenancy as tenants in common.A San Jose California Grant Deed — Corporation to Three Individuals as Joint Tenants is a legal document that transfers ownership of a property from a corporation to three individuals, who then become joint tenants. This type of deed is commonly used when a corporation wants to transfer ownership of a property it owns to multiple individuals as joint tenants. A grant deed is a legal instrument used to transfer ownership rights of real property in California. It contains specific language that assures the granter (in this case, the corporation) has clear title and the right to transfer the property to the grantees (the three individuals). It also warrants that the property has not already been transferred to someone else. In this particular deed, ownership of the property is transferred to three individuals as joint tenants. Joint tenancy is a form of concurrent ownership where each tenant has an equal and undivided interest in the property. This means that all three individuals have an equal share in the property and have the right to use, sell, or transfer their share. In the event of the death of one joint tenant, their share automatically passes to the surviving joint tenants without going through the probate process. It's worth mentioning that there may be variations or different names for this type of deed in San Jose, California. Some possible variations include: 1. San Jose California Grant Deed — Corporation to Three Individuals as Joint Tenants with Right of Survivorship: This version of the deed adds the right of survivorship, meaning that if one joint tenant passes away, their share automatically passes to the surviving joint tenants, avoiding the need for probate. 2. San Jose California Grant Deed — Corporation to Three Individuals as Joint Tenants in Common: This version of the deed would mean that the three individuals hold a joint tenancy in common, where each tenant has a specific percentage of ownership in the property. In the event of a joint tenant's death, their interest would not automatically pass to the surviving tenants but would instead be distributed according to their will or the laws of intestate succession. In conclusion, a San Jose California Grant Deed — Corporation to Three Individuals as Joint Tenants is a legal document used to transfer ownership of a property from a corporation to three individuals as joint tenants. The deed ensures clear title and grants equal and undivided interest to each individual. Different variations of this deed may exist, such as including the right of survivorship or holding the joint tenancy as tenants in common.
