This form is a General Warranty Deed where the Grantors are two (2) individuals and the Grantees are four (4) individuals. Grantors convey and generally warrant the described property to the Grantees. This deed complies with all state statutory laws.
A Cary North Carolina General Warranty Deed from Two Individuals to Four Individuals is a legally binding document that transfers ownership of real estate property from two individuals (the granters) to four individuals (the grantees) within the jurisdiction of Cary, North Carolina. This type of deed offers significant protection to the new owners, as it guarantees clear title to the property and provides covenants or promises from the granters that they have the legal right to sell the property, and that it is free from any liens, encumbrances, or claims. There are several variations or types of General Warranty Deeds that could be used in such a transaction, depending on the specific circumstances and provisions agreed upon by the parties involved. Some common types of Cary North Carolina General Warranty Deeds are: 1. Individual to Individual: This is a straightforward deed where one individual transfers their ownership interests in the property to another individual. In this case, two individuals are transferring their interests to four individuals. 2. Joint Tenancy: This type of deed allows for co-ownership of the property by all four individuals as joint tenants with rights of survivorship. This means that if one owner passes away, their share automatically transfers to the remaining owners, avoiding the need for probate. 3. Tenants in Common: This type of deed is suitable when the four individuals wish to own the property with different ownership percentages or have separate rights to their share. Each individual owns an undivided interest in the property, and they can sell or transfer their share independently. 4. Trustee to Individuals: In certain cases, the property may be held in a trust, and the trustee is transferring the legal ownership to the four individuals as beneficiaries of the trust. The Cary North Carolina General Warranty Deed from Two Individuals to Four Individuals must include several essential elements to ensure its validity. These elements typically include a legal description of the property, the names and addresses of the granters and grantees, the purchase price (if applicable), any relevant conditions or restrictions, and the granters' affirmations of good right, lawful authority, and clear title. It is vital for all parties involved to consult with a qualified real estate attorney during the preparation and execution of the deed to ensure compliance with local laws, regulations, and any specific requirements of Cary, North Carolina.
