This form is a General Warranty Deed where the grantor is an individual and the grantees are two individuals holding title as tenants in common.
A Frisco Texas General Warranty Deed for Individual to Two (2) Individuals as Tenants in Common is a legal document that transfers ownership of a property from an individual to two other individuals as tenants in common. This type of deed ensures that the transfer of ownership comes with the highest level of protection and guarantees. In this specific type of deed, the original owner, known as the granter, will be transferring their interest in the property to two other individuals, known as grantees. The grantees will hold an equal and undivided interest in the property, meaning they both have the right to occupy and use the entire property, but each individual's share is separate and distinct from the other. The tenure of tenants in common indicates that if one of the grantees passes away, their share of ownership will pass to their heirs or designated beneficiaries, rather than automatically transferring to the surviving co-grantee. The two individuals involved can have unequal ownership percentages, like 50-50 or any other agreed-upon ratio. By using a general warranty deed, the granter guarantees that they have full ownership rights to the property and that there are no undisclosed liens or encumbrances. This means that the granter will defend against any claims related to the property's title and will compensate the grantees for any losses incurred due to any defects in the title. Different variations of Frisco Texas General Warranty Deed for Individual to Two (2) Individuals as Tenants in Common may include: 1. Frisco Texas General Warranty Deed for Individual to Two (2) Individuals as Tenants in Common with Equal Ownership: This type of deed involves an even division of ownership between the two grantees, where both hold a 50% interest in the property. 2. Frisco Texas General Warranty Deed for Individual to Two (2) Individuals as Tenants in Common with Unequal Ownership: This variation allows for unequal ownership percentages between the two grantees, based on their agreed-upon terms. 3. Frisco Texas General Warranty Deed for Individual to Two (2) Individuals as Tenants in Common with Detailed Property Description: This version of the deed includes a thorough description of the property, including its physical boundaries, lot numbers, or any other relevant details to ensure clarity in the transfer. In conclusion, a Frisco Texas General Warranty Deed for Individual to Two (2) Individuals as Tenants in Common is a legally binding document that facilitates the transfer of ownership from an individual to two other individuals as tenants in common. It assures the grantees of a clear and unencumbered title, providing the highest level of protection and guarantee in property transfers.A Frisco Texas General Warranty Deed for Individual to Two (2) Individuals as Tenants in Common is a legal document that transfers ownership of a property from an individual to two other individuals as tenants in common. This type of deed ensures that the transfer of ownership comes with the highest level of protection and guarantees. In this specific type of deed, the original owner, known as the granter, will be transferring their interest in the property to two other individuals, known as grantees. The grantees will hold an equal and undivided interest in the property, meaning they both have the right to occupy and use the entire property, but each individual's share is separate and distinct from the other. The tenure of tenants in common indicates that if one of the grantees passes away, their share of ownership will pass to their heirs or designated beneficiaries, rather than automatically transferring to the surviving co-grantee. The two individuals involved can have unequal ownership percentages, like 50-50 or any other agreed-upon ratio. By using a general warranty deed, the granter guarantees that they have full ownership rights to the property and that there are no undisclosed liens or encumbrances. This means that the granter will defend against any claims related to the property's title and will compensate the grantees for any losses incurred due to any defects in the title. Different variations of Frisco Texas General Warranty Deed for Individual to Two (2) Individuals as Tenants in Common may include: 1. Frisco Texas General Warranty Deed for Individual to Two (2) Individuals as Tenants in Common with Equal Ownership: This type of deed involves an even division of ownership between the two grantees, where both hold a 50% interest in the property. 2. Frisco Texas General Warranty Deed for Individual to Two (2) Individuals as Tenants in Common with Unequal Ownership: This variation allows for unequal ownership percentages between the two grantees, based on their agreed-upon terms. 3. Frisco Texas General Warranty Deed for Individual to Two (2) Individuals as Tenants in Common with Detailed Property Description: This version of the deed includes a thorough description of the property, including its physical boundaries, lot numbers, or any other relevant details to ensure clarity in the transfer. In conclusion, a Frisco Texas General Warranty Deed for Individual to Two (2) Individuals as Tenants in Common is a legally binding document that facilitates the transfer of ownership from an individual to two other individuals as tenants in common. It assures the grantees of a clear and unencumbered title, providing the highest level of protection and guarantee in property transfers.
