This form is a Special Warranty Deed where the Trust is the Grantor and the Grantees are two Individuals who will be joint tenants of the property with rights of survivorship. Grantor conveys and specially warrants the described property to the Grantees. The Grantor only warrants and will defend the property only as to claims of persons claiming by, through or under Grantor, but not otherwise. This deed complies with all state statutory laws.
A Special Warranty Deed is a legal document used in Austin, Texas, to transfer the ownership of real property from a trust to two individuals who will hold the property as joint tenants with rights of survivorship. In this type of deed, the trust represents the entity transferring the property, and the two individuals named in the deed will become co-owners of the property. The keywords used in this description include "Austin Texas," which specifies the jurisdiction where this type of deed is used, "Special Warranty Deed," which indicates the type of deed being used for the transfer, "Trust," which signifies that the property is being transferred from a trust, "Two Individuals," which specifies the number of individuals who will receive ownership, and "Joint Tenants with Rights of Survivorship," which describes the way in which the individuals will hold the property. Typically, a Special Warranty Deed — Trust to Two Individuals as Joint Tenants with Rights of Survivorship implies that the trust holds the legal title to the property and is transferring it to the two individuals as joint tenants. As joint tenants, each individual has an equal and undivided interest in the property, and upon the death of one joint tenant, the surviving joint tenant automatically inherits the deceased tenant's interest. This right of survivorship ensures that the property passes seamlessly to the surviving joint tenant without the need for probate proceedings. It's important to note that there may be variations or modifications to this type of deed based on the specific terms and conditions of the trust or the preferences of the parties involved. These variations may include specifying the percentage of ownership for each individual, designating certain restrictions on the property, or outlining any additional provisions that affect the transfer of the property. It's essential to consult with a qualified attorney or real estate professional for guidance and to ensure that all necessary legal requirements are met when utilizing a Special Warranty Deed — Trust to Two Individuals as Joint Tenants with Rights of Survivorship.
