Franklin Ohio Limited Warranty Deed for Husband and Wife to an Individual

• Category: Ohio Real Estate - Deeds - Limited Warranty
• State: Ohio
• County: Franklin
• Control #: OH-SDEED-8-3
• Format: Word; Rich Text

Description

This form is a Limited Warranty Deed where the grantors are husband and wife and the grantee is an individual. A Franklin Ohio Limited Warranty Deed for Husband and Wife to an Individual is a legal document commonly used in real estate transactions to transfer ownership of property located in Franklin, Ohio, from a married couple to an individual buyer. This type of deed guarantees that the sellers, as a couple, hold sole ownership and have the right to sell the property. The limited warranty aspect of this deed ensures that the sellers warrant and defend the title against any claims that may arise during their period of ownership. However, this warranty is limited to claims that occurred only during the time they owned the property and does not cover any previous claims. By executing this specific type of deed, the husband and wife are affirming that they are transferring their joint interest in the real estate to a single buyer, who will then become the sole proprietor. It is important to note that the individual receiving the property, known as the grantee, should thoroughly review the terms of the limited warranty deed to ensure they fully understand their ownership rights and the limitations of the sellers' warranties. Different types of Limited Warranty Deeds for Husband and Wife to an Individual in Franklin, Ohio may include variations such as: 1. Franklin Ohio Joint Tenancy Limited Warranty Deed for Husband and Wife to an Individual: This type of deed grants joint tenancy ownership rights to the individual buyer. In joint tenancy, each spouse holds an undivided interest in the property, and upon the death of one spouse, their share automatically passes to the surviving spouse. 2. Franklin Ohio Tenants in Common Limited Warranty Deed for Husband and Wife to an Individual: In this case, the husband and wife transfer their interests as tenants in common to the individual buyer. Tenants in common own distinct shares of the property, which may be disproportionate, and each share can be transferred or inherited independently. 3. Franklin Ohio Community Property Limited Warranty Deed for Husband and Wife to an Individual: If the property is considered community property under Ohio law, this type of deed transfers the community property interest of the spouses to the individual buyer. Community property states that all property acquired during the marriage is jointly owned, and each spouse is entitled to an equal share. In all instances, legal counsel and careful consideration of the specific circumstances of the property transfer are strongly advised to ensure compliance with Ohio state laws and to protect the interests of both the sellers and the buyer.

A Franklin Ohio Limited Warranty Deed for Husband and Wife to an Individual is a legal document commonly used in real estate transactions to transfer ownership of property located in Franklin, Ohio, from a married couple to an individual buyer. This type of deed guarantees that the sellers, as a couple, hold sole ownership and have the right to sell the property. The limited warranty aspect of this deed ensures that the sellers warrant and defend the title against any claims that may arise during their period of ownership. However, this warranty is limited to claims that occurred only during the time they owned the property and does not cover any previous claims. By executing this specific type of deed, the husband and wife are affirming that they are transferring their joint interest in the real estate to a single buyer, who will then become the sole proprietor. It is important to note that the individual receiving the property, known as the grantee, should thoroughly review the terms of the limited warranty deed to ensure they fully understand their ownership rights and the limitations of the sellers' warranties. Different types of Limited Warranty Deeds for Husband and Wife to an Individual in Franklin, Ohio may include variations such as: 1. Franklin Ohio Joint Tenancy Limited Warranty Deed for Husband and Wife to an Individual: This type of deed grants joint tenancy ownership rights to the individual buyer. In joint tenancy, each spouse holds an undivided interest in the property, and upon the death of one spouse, their share automatically passes to the surviving spouse. 2. Franklin Ohio Tenants in Common Limited Warranty Deed for Husband and Wife to an Individual: In this case, the husband and wife transfer their interests as tenants in common to the individual buyer. Tenants in common own distinct shares of the property, which may be disproportionate, and each share can be transferred or inherited independently. 3. Franklin Ohio Community Property Limited Warranty Deed for Husband and Wife to an Individual: If the property is considered community property under Ohio law, this type of deed transfers the community property interest of the spouses to the individual buyer. Community property states that all property acquired during the marriage is jointly owned, and each spouse is entitled to an equal share. In all instances, legal counsel and careful consideration of the specific circumstances of the property transfer are strongly advised to ensure compliance with Ohio state laws and to protect the interests of both the sellers and the buyer.