Fill and Sign the Gift Deed from Husband and Wifetwo Individuals to Husband and Wifetwo Individuals Montana Form

© 2016 - U.S. Legal Forms, Inc.       MONTANA GIFT DEED [Husband and Wife / Two (2) Individuals To Husband and Wife / Two (2) Individuals] Control Number: MT-024-77 I. TIPS ON COMPLETING THE FORMS The form(s) in this packet may contain “form fields” created using Microsoft Word or Adobe Acrobat (“.pdf” format). “Form fields” facilitate completion of the forms using your computer. They do not limit your ability to print the form “in blank” and complete with a typewriter or by hand. It is also helpful to be able to see the location of the form fields. Go to the View menu, click on Toolbars, and then select Forms. This will open the Forms toolbar. Look for the button on the Forms toolbar that resembles a shaded letter “a”. Click this button and the form fields will be visible. By clicking on the appropriate form field, you will be able to enter the needed information. In some instances, the form field and the line will disappear after information is entered. In other cases, it will not. The form was created to function in this manner. II. Required Transfer Documents for sale/transfer of real property: http://www.mt.gov/revenue/formsandresources/forms/488RTC.pdf III. II. DESIGNATING HOW THE GRANTEES WILL HOLD THE PROPERTY: A. In the State of Montana, real property can be held by more than one person (concurrent estates) in the following ways: 1. If the Grantees ARE NOT married to each other, they can hold the property as: a. Tenants in Common: a type of concurrent estate in which each party owns an undivided interest in the property that will pass to their heirs when the tenant in common dies. Generally their shares are “equal” but may differ in size. b. Joint Tenants with the Right of Survivorship ( JTWROS) : is a type of concurrent estate in which co-owners have a right of survivorship , meaning that if one owner dies, that owner's interest in the property will pass to the surviving owner or owners by operation of law, and avoiding probate. 2. If the Grantees ARE married to each other, they can hold the property as: a. Tenants in Common – See above b. Joint Tenants with the Right of Survivorship – See above 3. In the attached deed, the preparer will need to indicate how the Grantees will hold the property: as Tenants in Common or Joint Tenants with Right of Survivorship. B. For additional information on the above see the definitions at: http://lawdigest.uslegal.com/ C. For example: “as Tenants in Common ,” IV. DISCLAIMER These materials were developed by U.S. Legal Forms, Inc. based upon statutes and forms for the subject state. All information and Forms are subject to this Disclaimer: All forms in this package are provided without any warranty, express or implied, as to their legal effect and completeness. Please use at your own risk. If you have a serious legal problem, we suggest that you consult an attorney in your state. U.S. Legal Forms, Inc. does not provide legal advice. 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After Recording, Return to:                         GIFT DEED (Husband and Wife / Two (2) Individuals To Husband and Wife / Two (2) Individuals) GIFT DEED made this       day of       , 20       , by and between: GRANTORS:       , whose address is       ; and       , whose address is       ; husband and wife ,, DO HEREBY RELEASE, REMISE AND FOREVER QUICLAIM UNTO GRANTEES :       , whose address is       ; and       , whose address is       ; husband and wife , as joint tenants with the right of survivorship and not as tenants in common , the following lands and property, together with all improvements located thereon, lying in the County of       , State of Montana, to-wit: See Legal Description Attached as Exhibit A incorporated by reference as though set forth in full Legal Description:       Prior instrument reference: Book       , Page       , Document No.       , of the Gift Deed Page 1 of 2 Public Records of the Recorder of       County, Montana. SUBJECT to all easements, rights-of-way, protective covenants and mineral reservations of record, if any. WITNESS Grantors hand on the day and year set forth below. Signature of Grantor       Type/Print Name State of Montana, County of       The instrument was acknowledged before me on this       day of       , 20       , by       . Notary Public My commission expires:             Type or Print Name Signature of Grantor       Type/Print Name State of Montana, County of       The instrument was acknowledged before me on this       day of       , 20       , by       . Notary Public My commission expires:             Type or Print Name Gift Deed Page 2 of 2 EXHIBIT A Grantors:             Grantees:             Legal Description:       Exhibit A