This form is a General Warranty Deed where the Grantor is an individual and the Grantees are five (5) individuals. Grantor conveys and generally warrants the described property to the grantees. This deed complies with all state statutory laws.
Wichita Falls Texas General Warranty Deed from Individual to Five (5) Individuals is a legal document indicating the transfer of property ownership from an individual seller to five individual buyers. This type of deed guarantees that the property is free from any encumbrances or claims, ensuring a clear and marketable title to the buyers. Here are some different types of Wichita Falls Texas General Warranty Deeds that may exist: 1. Wichita Falls Texas General Warranty Deed with Right of Survivorship: This type of deed ensures that if one of the five individuals were to pass away, their ownership interest automatically transfers to the remaining four individuals, instead of being passed onto their heirs or estate. 2. Wichita Falls Texas General Warranty Deed with Joint Tenancy: Similar to a deed with right of survivorship, this type of deed establishes joint tenancy between the five individuals, meaning that all five individuals have an equal, undivided ownership interest in the property. If one individual were to pass away, their ownership interest would automatically transfer to the remaining four individuals. 3. Wichita Falls Texas General Warranty Deed with Tenants in Common: In this type of deed, the property ownership is divided into five individual, but possibly unequal, shares. Each individual has the right to sell or transfer their share of the property independently without the consent of the other four individuals. The Wichita Falls Texas General Warranty Deed from Individual to Five (5) Individuals serves as a legally binding agreement, ensuring a secure transfer of ownership and protecting the buyer's interests. It is important for all parties involved in the transaction to understand the terms and provisions outlined in the deed to avoid any legal complications in the future. It is recommended to consult with a qualified real estate attorney or professional before entering into such agreements.
