This form is a Warranty Deed where the grantors are husband and wife and the grantees are three individuals. The grantees take the property as joint tenants with the right of survivorship or as tenants in common. This deed complies with all state statutory laws.
A Fort Wayne Indiana Warranty Deed — Husband and Wife to Three Individuals is a legal document that transfers the ownership of real estate from a married couple to three individuals, providing a guarantee that the property is free from any defects or claims. This type of deed is commonly used when a couple wishes to convey their property rights equally to multiple individuals. The key features of this warranty deed include: 1. Husband and Wife: This deed involves the transfer of property rights jointly held by a married couple. Both spouses must agree to the sale and sign the deed. 2. Three Individuals: The property is being transferred to three specific individuals, who will become the new owners. Their names and details should be clearly stated in the deed. 3. Warranty Clause: The deed includes a warranty clause, ensuring that the transferring couple holds clear title to the property and that there are no encumbrances or liens on it. 4. Legal Description: A detailed and accurate legal description of the property, including its boundaries, lot numbers, and any relevant survey information, is included in the warranty deed to prevent any ambiguity. 5. Consideration: The deed mentions the amount of consideration or payment exchanged for the property transfer. This can be in the form of money or other valuable assets. Different types of Fort Wayne Indiana Warranty Deed — Husband and Wife to Three Individuals can be categorized based on the specific purpose or conditions of the transfer. Some examples include: 1. Joint Tenancy with Rights of Survivorship (TWOS) Warranty Deed: This type of deed grants the three individuals equal ownership rights to the property, and if one owner passes away, their share automatically transfers to the surviving owners. 2. Tenants in Common (TIC) Warranty Deed: This type of deed grants the three individuals ownership rights to the property, but their shares may not be equal. In the event of an owner's death, their share will be transferred to their designated heirs or according to their will. 3. Special Warranty Deed: This type of deed provides a warranty that the property has not experienced any defects or claims during the time the transferring couple owned it. However, it does not guarantee against issues that might have existed before their ownership. 4. General Warranty Deed: This type of deed offers the most comprehensive guarantee of property ownership and addresses any defects or claims from the property's complete history, including before the transferring couple owned it. In summary, a Fort Wayne Indiana Warranty Deed — Husband and Wife to Three Individuals is a legal document used to transfer property rights from a married couple to three specified individuals while guaranteeing the property's clear title. Different variations of this deed exist, depending on ownership rights and warranty levels.
