This form is a Quitclaim Deed where the grantors are husband and wife and the grantees are two individuals. Grantors convey and quitclaim the described property to grantees are tenants in common or joint tenants with the right of survivorship. This deed complies with all state statutory laws.
A Wilmington North Carolina Quitclaim Deed — Husband and Wife to Two Individuals is a legal document used to transfer ownership of a property from a married couple to two other individuals. This type of quitclaim deed is commonly used in cases where a husband and wife jointly own a property and wish to transfer ownership to two separate individuals or entities. In this deed, the husband and wife, known as granters, voluntarily relinquish any claim or interest they have in the property to the two individuals, known as grantees. The quitclaim deed effectively transfers the couple's share of ownership to the grantees, without any warranties or guarantees regarding the title or condition of the property. This type of quitclaim deed can be used in various circumstances, such as when a married couple divorces and wants to divide their jointly owned property between two different parties. It can also be utilized when the couple wishes to gift or sell their property to two separate individuals. There are a few variations of the Wilmington North Carolina Quitclaim Deed — Husband and Wife to Two Individuals, depending on the specific requirements or circumstances involved. Some of these variations include: 1. Joint Tenancy with Rights of Survivorship: In this type of quitclaim deed, the husband and wife transfer their ownership interest to two individuals who will hold the property as joint tenants. If one tenant passes away, their interest automatically transfers to the surviving tenant. 2. Tenancy in Common: This quitclaim deed allows the husband and wife to transfer their share of ownership to two individuals as tenants in common. Each individual holds a separate and distinct interest in the property, and their shares do not automatically transfer to the other if one passes away. 3. Fractional Ownership: This variation of the quitclaim deed divides the property ownership among the four parties in specific fractions or percentages, indicating the exact portion each person holds. This can be useful when the parties have different financial contributions or investment interests in the property. Regardless of the specific variation used, a Wilmington North Carolina Quitclaim Deed — Husband and Wife to Two Individuals involves the transfer of property ownership from a married couple to two separate parties. It is essential to consult with a qualified real estate attorney or professional to ensure the proper creation and execution of this legal document.
