kima02
Jun 10, 2009, 11:30 AM
A property owned by my family in Florida is held as tenants in common in the following manner::
John Smith, a single man, Barbara Reynolds, a single woman, Robert Smith, a single man and Peter Smith and Jane Smith, husband and wife.
John and Barbara have since gotten married and Peter Smith, the father of John and Robert, passed away a couple of years ago. Robert would like to quitclaim his interest in the property. The remaining owners would like to own the property as joint tenants with right of survivorship.
Would the following conveyance be correct?
THIS INDENTURE made the 9th day of June 2009, by and between John Smith and Barbara Smith, formerly known as Barbara Reynolds, his wife, Jane Smith, an unremarried widow, and Robert Smith, a married man, hereinafter referred to as the GRANTOR, and John Smith and Barbara Smith, his wife, and Jane Smith, an unremarried widow, as joint tenants with full right of survivorship, hereinafter referred to as the GRANTEE.
Is this a valid and legal way to change owvership to JTWRS? I think I read that for JTWRS to be valid the conveyance to the owners have to happen through the same instrument (deed) and at the same time. This is why I have doubts on whether this is a valid way to create JTROS. I have seen deeds that change ownership from JTROS to tenanats in common, but not the other way around. By the way, I am using a quitclaim deed to change ownership type. Is this acceptable? I know some lawyers do not like quitclaim deeds, but will it be acceptable to use one?
Thank you
John Smith, a single man, Barbara Reynolds, a single woman, Robert Smith, a single man and Peter Smith and Jane Smith, husband and wife.
John and Barbara have since gotten married and Peter Smith, the father of John and Robert, passed away a couple of years ago. Robert would like to quitclaim his interest in the property. The remaining owners would like to own the property as joint tenants with right of survivorship.
Would the following conveyance be correct?
THIS INDENTURE made the 9th day of June 2009, by and between John Smith and Barbara Smith, formerly known as Barbara Reynolds, his wife, Jane Smith, an unremarried widow, and Robert Smith, a married man, hereinafter referred to as the GRANTOR, and John Smith and Barbara Smith, his wife, and Jane Smith, an unremarried widow, as joint tenants with full right of survivorship, hereinafter referred to as the GRANTEE.
Is this a valid and legal way to change owvership to JTWRS? I think I read that for JTWRS to be valid the conveyance to the owners have to happen through the same instrument (deed) and at the same time. This is why I have doubts on whether this is a valid way to create JTROS. I have seen deeds that change ownership from JTROS to tenanats in common, but not the other way around. By the way, I am using a quitclaim deed to change ownership type. Is this acceptable? I know some lawyers do not like quitclaim deeds, but will it be acceptable to use one?
Thank you