This form is a Warranty Deed where the grantor is an individual and the grantees are two individuals holding title as joint tenants. The property is subject to the reserved life estate of the grantor.
A Corpus Christi Texas Warranty Deed for Individual to Two (2) Individuals as Joint Tenants Subject to Reserved Life Estate is a legal document that transfers ownership of a property from an individual to two other individuals, who become joint tenants. In this type of deed, a reserved life estate is also included, which means that the original owner retains the right to use and live on the property for the rest of their life. This type of deed provides several key benefits for both the granter and the grantees. By conveying the property as joint tenants, each individual holds an equal and undivided interest in the property, with the right of survivorship. This means that if one tenant passes away, their share automatically transfers to the surviving tenant(s), without the need for probate. The inclusion of a reserved life estate allows the original owner to continue living on the property for the duration of their life. This can be particularly useful for cases where individuals wish to transfer ownership of their property to others while still maintaining their right to reside on the premises. The life estate can be structured in a way that ensures the granter's rights and access to the property are protected until their passing. It is important to note that while this type of warranty deed is commonly used, there may be variations or additional clauses that can be added to meet specific needs or circumstances. Examples of potential variations could include granting a different percentage of ownership to each joint tenant, specifying how expenses will be shared, or including restrictions on the use or transfer of the property. In summary, a Corpus Christi Texas Warranty Deed for Individual to Two (2) Individuals as Joint Tenants Subject to Reserved Life Estate is a legal document that transfers ownership of a property from one individual to two others as joint tenants. The inclusion of a reserved life estate allows the original owner to retain the right to live on the property until their death. By using this type of deed, the transfer of ownership is simplified, and the property avoids probate upon the death of one of the joint tenants.
