ASSIGNMENT – JOINT OWNERSHIP WITH RIGHT OF SURVIVORSHIP

Assignment – JOINT OWNERSHIP WITH RIGHT OF SURVIVORSHIP

Assignment- joint ownership with right of survivorship, is an important document that has to be preserved and maintained until the property is sold by the seller to the purchaser, and the circle goes on. To be more precise, a joint ownership or otherwise called co-ownership, is a phase where a title of a particular property is help by two or more persons owning that property. There are three different types of joint ownership that are, tenants in common, joint tenancy, tenancy by entirety and joint tenancy. Right of survivorship is the right of an owner to take over a real property, if and only if the previous owner of the property passes away or gives it directly to the new owner.

This document holds the key ownership to a property, as it decides the real owner of a property by claiming it legally. This document also mentions the names and address of the joint members of the property and their signatures for a formality record. Hence, if this document is signed by the owners of the property, all the tax fees, mortgages, loans, and other fee are handled by these owner as a single spouse. This document also holds the value of the property before and after and all types of taxes that are due on the property that has to be paid. Once a new owner takes on the property, the funds are directly transferred to the new owner. Thus stating that, the new owner or owners have the right over the property.

(No Ratings Yet)

Sample Template Preview

ASSIGNMENT – JOINT OWNERSHIP WITH RIGHT OF SURVIVORSHIP

This assignment is from: ______________________________________________________________________
______________________________________________________________________

Whose address(es) (is/are): ______________________________________________________________________
______________________________________________________________________

Hereafter called assignor, to: ______________________________________________________________________
______________________________________________________________________

Whose address(es) (is/are):
___________________________________________________________________________________

Hereafter called assignee.  Even if there is more than one assignor or assignee, the parties will be referred to in the singular for the rest of this assignment.  In consideration of the payment of Five Dollars ($5.00) to assignor by assignee, receipt of which is hereby acknowledged, and in consideration of assignee giving assignor:
___________________________________________________________________________________

Assignor hereby grants, conveys, assigns, transfers, and sets over to _______________
_________________________________________ in that certain property described as ___________________________________________________________.
Assignee’s undivided interest shall be held:
__________________________________________________________________________________

If said property has an unpaid balance owing on it, the present unpaid balance on said property is: ______________________________________________ ($___________)

With interest paid until: __________________________________________________

The unpaid balance accrues interest at the rate of _________________ percent per year.

If this assignment involves any interest in real property, the tax assessor should send tax statements for said real property to the assignor and assignee at the address listed above for the assignor.  This instrument will not allow use of the property described in this instrument in violation of applicable land use laws and regulations.  Before signing or accepting this instrument, the person acquiring fee title to the property should check with the appropriate city or county planning department to verify approved uses.  The undersigned assignor hereby declares that the true value of the property transferred in this assignment is:
_____________________________________________________________________________

IN WITNESS WHEREOF, I/we have signed this assignment on this _________ day of _____________ (month), ______ (year), at ___________________________________
______________________________________ (Address Where document is signed).

Assignor:  ___________________________________        (SEAL)

Assignor:  ___________________________________        (SEAL)

Assignor:  ___________________________________        (SEAL)

The undersigned spouse of the assignor, or spouses of the assignors if there is more than one assignor, for the consideration stated in the assignment above, hereby give up his/her/their right, title, interest, separate estate, dower and right of dower, or courtesy, as the case may be, and hereby give up any homestead, community property, or other rights he/she/they may have in the above property.

Dated this _________________ day of _____________ (month), ______(year).

___________________________________________ Spouse

___________________________________________ Spouse

___________________________________________ Spouse

We, ______________________________________________________________________
_______________________________________________________________________

Hereby acknowledge that we witnessed: ______________________________________________________________________
Who is/are known to us personally, sign the above assignment on: ______________________________________________________________________

In our presence and that: ______________________________________________________________________
______________________________________________________________________

Acknowledged to us and it appeared to us that he/she/they signed said assignment freely and voluntarily.  We signed our names as witnesses in the presence of and at the request of said assignor(s).

Dated this _____________________ day of _____________ (month), _____ (year).

____________________________________
Witness

____________________________________
Witness

____________________________________
Witness

STATE OF: _____________________________________________________________

COUNTY OF: _____________________________________________________________

I, _______________, a resident of and notary public in and for the state and county named above, am duly commissioned and sworn and legally authorized to administer oaths and affirmations, hereby certify that on _________ (date) the following (names of assignor(s) and spouse(s)): _______________________________________________
____________________________________________________ who is/are known to me personally to be the signer(s) of the above assignment, appeared before me and, after being first duly sworn by me under penalty of perjury, swore on his/her/their oaths to the truth of the facts in the above assignment, and signed and acknowledged said assignment in my presence, of his/her/their own free will and for the purposes explained in said assignment.

Subscribed and sworn to before me this ___ day of ___________ (month), ____ (year).

____________________________ (SEAL)
Notary Public

My Commission Expires: ________________

This instrument was prepared by _______________, whose address is ____________.

STATE OF ________________________

COUNTY OF _______________________

I certify that the above assignment was recorded in my office on the following date: ____________________, at (TIME) ________________.M., and is duly recorded in Book _________ on Page _________________ (or as recorder’s fee number ____________), of the _______________ records of the above state and county.

__________________________________________
Recorder

By: ______________________________________
Deputy

Transfer Fee: $______________________________