Cary North Carolina Quitclaim Deed from one Individual to Two Individuals as Joint Tenants with the Right of Survivorship

• Category: North Carolina Real Estate - Deeds - Quitclaims
• State: North Carolina
• City: Cary
• Control #: NC-SDEED-8-1
• Format: Word; Rich Text

Description

This form is a Quitclaim Deed where the grantor is one individual and the grantees are two individuals holding title as joint tenants. A Cary North Carolina Quitclaim Deed from one Individual to Two Individuals as Joint Tenants with the Right of Survivorship is a legal document that transfers ownership of real property from one person (the granter) to two people (the grantees) as joint tenants. This type of deed ensures that if one of the grantees passes away, their share of the property automatically transfers to the surviving grantee, without the need for probate. In Cary, North Carolina, there are two main variations of Quitclaim Deeds that can be used to accomplish this type of transfer: 1. Simple Quitclaim Deed: This is the most basic form of the deed, where the granter simply transfers their interest in the property to the two grantees. By executing this deed, the granter is stating that they are giving up any claim or interest they have in the property and transferring it to the joint tenants. This type of deed is commonly used for transferring property between family members, partners, or spouses. 2. Enhanced Life Estate Deed: Also known as a Lady Bird Deed, this variation of the Quitclaim Deed allows the granter to retain control and ownership rights over the property during their lifetime, while ensuring that the property will automatically transfer to the two grantees as joint tenants upon the granter's death. With this deed, the granter can still sell, mortgage, or modify the property during their lifetime without the consent of the grantees. However, upon the granter's death, the joint tenants with right of survivorship will immediately become the sole owners of the property without the need for probate. The use of a Quitclaim Deed from one Individual to Two Individuals as Joint Tenants with the Right of Survivorship is a common way to transfer property in Cary, North Carolina while avoiding the lengthy and costly probate process. It provides a simple and efficient method of transferring ownership and ensures that the intended beneficiaries will inherit the property seamlessly upon the granter's death.

A Cary North Carolina Quitclaim Deed from one Individual to Two Individuals as Joint Tenants with the Right of Survivorship is a legal document that transfers ownership of real property from one person (the granter) to two people (the grantees) as joint tenants. This type of deed ensures that if one of the grantees passes away, their share of the property automatically transfers to the surviving grantee, without the need for probate. In Cary, North Carolina, there are two main variations of Quitclaim Deeds that can be used to accomplish this type of transfer: 1. Simple Quitclaim Deed: This is the most basic form of the deed, where the granter simply transfers their interest in the property to the two grantees. By executing this deed, the granter is stating that they are giving up any claim or interest they have in the property and transferring it to the joint tenants. This type of deed is commonly used for transferring property between family members, partners, or spouses. 2. Enhanced Life Estate Deed: Also known as a Lady Bird Deed, this variation of the Quitclaim Deed allows the granter to retain control and ownership rights over the property during their lifetime, while ensuring that the property will automatically transfer to the two grantees as joint tenants upon the granter's death. With this deed, the granter can still sell, mortgage, or modify the property during their lifetime without the consent of the grantees. However, upon the granter's death, the joint tenants with right of survivorship will immediately become the sole owners of the property without the need for probate. The use of a Quitclaim Deed from one Individual to Two Individuals as Joint Tenants with the Right of Survivorship is a common way to transfer property in Cary, North Carolina while avoiding the lengthy and costly probate process. It provides a simple and efficient method of transferring ownership and ensures that the intended beneficiaries will inherit the property seamlessly upon the granter's death.