A Yonkers New York Quitclaim Deed for Three Individuals to Two Individuals as Joint Tenants with the Right of Survivorship is a legal document that allows the transfer of property ownership from three individuals to two individuals with certain rights and conditions. This type of deed ensures that upon the death of one joint tenant, the deceased tenant's share automatically transfers to the surviving joint tenant(s). In Yonkers, New York, there are generally two different types of Quitclaim Deeds for Three Individuals to Two Individuals as Joint Tenants with the Right of Survivorship: 1. Traditional Quitclaim Deed: This type of deed is commonly used to transfer property ownership quickly and efficiently between multiple parties. It ensures that the property's title is transferred from the three individuals to the two individuals as joint tenants. With the right of survivorship, if one joint tenant passes away, their ownership share automatically transfers to the surviving joint tenant(s) without going through probate. 2. Enhanced Life Estate Deed: Also known as a Lady Bird Deed, this type of Quitclaim Deed offers additional benefits for the granters (original owners). While functioning similarly to the traditional quitclaim deed, an enhanced life estate deed allows the granters to retain certain rights to the property during their lifetimes, such as the ability to live in or sell the property without obtaining consent from the new owners (grantees). However, once the granters pass away, the property immediately transfers to the joint tenants with the right of survivorship. The Yonkers New York Quitclaim Deed for Three Individuals to Two Individuals as Joint Tenants with the Right of Survivorship provides a clear and concise way to transfer property ownership while ensuring a smooth transition of rights in case of the death of one of the joint tenants. It is a legally binding document that outlines the names and roles of the granters and grantees, legal descriptions of the property, and the specific rights and conditions associated with the transfer.
Yonkers New York Quitclaim Deed for Three Individuals to Two Individuals as Joint Tenants with the Right of Survivorship
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