This form is a Quitclaim Deed where the grantor is an individual and the grantees are two individuals. Grantor conveys and quitclaims the described property to grantees. The grantees take the property as tenants in common or as joint tenants with the right of survivorship. This deed complies with all state statutory laws.
Keywords: Kings New York Quitclaim Deed, individual, two individuals, types Description: The Kings New York Quitclaim Deed — Individual to Two Individuals is a legally binding document used for transferring ownership of real estate from an individual to two other individuals without providing any guarantees or warranties. This type of quitclaim deed is commonly used when parties involved have existing relationships or trust each other enough not to require extensive warranties regarding the property's title. In Kings County, New York, there are several types of quitclaim deeds that fall under the category of "Individual to Two Individuals." These variations include: 1. Kings New York Quitclaim Deed — Individual to Two Individual— - Joint Tenancy: This type of quitclaim deed establishes a joint tenancy, where both individuals acquiring the property have equal ownership rights and survivorship. In the event of one party's death, the surviving joint tenants automatically gain full ownership of the property. 2. Kings New York Quitclaim Deed — Individual to Two Individual— - Tenancy in Common: This quitclaim deed type allows each individual to have a specific and undivided share of the property. Unlike joint tenancy, there is no right of survivorship. Each tenant in common can sell, transfer, or will their share to another person. 3. Kings New York Quitclaim Deed — Individual to Two Individual— - Community Property: This quitclaim deed variation is applicable when a married individual wants to transfer their interest in a property to their spouse and another individual. In community property states like California, certain assets acquired during marriage are considered joint property. However, in New York, equitable distribution principles apply. It is crucial to consult with a qualified real estate attorney or legal advisor to ensure that the correct quitclaim deed type is chosen based on the specific circumstances and intentions of the parties involved. The legal professionals will guide individuals through the drafting, signing, and filing process, ensuring compliance with Kings County and New York State regulations.
