Fill and Sign the New Jersey Trust 497319155 Form

© 2016 - U.S. Legal Forms, Inc.       NEW JERSEY QUITCLAIM DEED [Trust to Two Individuals] Control Number: NJ-036-77 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. DESIGNATING HOW THE GRANTEES WILL HOLD THE PROPERTY: A. In the State of New Jersey, 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 c. Tenants by the Entirety - a type of concurrent estate formerly available only to married couples, where ownership of property is treated as though the couple were a single legal person. Like a JTWROS, the tenancy by the entirety also encompasses a right of survivorship, so if one spouse dies, the entire interest in the property passes to the surviving spouse, without going through probate. 3. In the attached deed, the preparer will need to indicate how the Grantees will hold the property: as Tenants in Common; Joint Tenants with Right of Survivorship; or, Tenants by the Entirety. B. For additional information on the above see the definitions at: http://lawdigest.uslegal.com/ C. For example: “. . . as tenants in common , . . .” OR “. . . as tenants by the entireties , . . .” OR “. . . as joint tenants with the right of survivorship and not as tenants in common , . . .” III. INFORMATION ON FILING THIS DEED Form RTF-1, “Affidavit of Consideration for Use By Seller,” must be annexed to and recorded with all deeds when entire consideration is not recited in deed or the acknowledgement or proof of the execution, when the grantor claims a total or partial exemption from the fee, Class 4 property that includes commercial, industrial, or apartment property, and for transfers of “new construction. For detailed instruction see the form and attached instructions at: http://www.state.nj.us/treasury/taxation/pdf/other_forms/lpt/rtfexempt.pdf 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. 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Quitclaim Deed [Trust to Two Individuals] Prepared by:             After Recording, Return to:                   This Deed is made the       day of       , 20       , between GRANTOR:       , whose mailing address is:             as Trustee under the provisions of a trust agreement dated       , and known as the       Trust, AND GRANTEES:       , an individual whose address is       ; and       , an individual whose address is       ; as tenants in common , hereinafter Grantees. 1. Transfer of Ownership. The Grantor quitclaims and conveys (transfers ownership of) the property described below to the Grantees. 2. Tax Map Reference. (N.J.S.A. 46:15-1.1) Municipality of       , Lot No.       , Qualifier No.       Account No.       . No property tax identification number is available on the date of this Deed. (Check Box if Applicable.) 3. Property. The Property consists of the land and all the buildings and structures on the land in the       of       , County of       and State of New Jersey, to-wit: See Legal Description Attached as Exhibit A incorporated by reference as though set forth in full Legal Description:       Quitclaim Deed Page 1 of 2 Being the same land and premises which became vested in the Grantor, by Deed dated       , and recorded on       , 20       in the land records office of the Register of Deeds for       County, New Jersey. The street address of the Property is:       . 4. Type of Deed. This Deed is called a Quitclaim Deed. The Grantors make no promises as to ownership or title, but simply transfers whatever interest the Grantor has to the Grantees. 5. Signatures. The acting in his capacity as Trustee of the             Trust, has executed the above instrument on this the       day of       , 20       . Name of Trust:       By: Signature       Type or Print Name STATE OF ____________ , COUNTY OF __________________ SS: I CERTIFY that on __________________ , ____________________________________ , personally came before me and stated to my satisfaction that this person (or if more than one, each person): (a) was the maker of this Deed; (b) executed this Deed as his or her own act; and, (c) made this Deed for $ ____________ as the full and actual consideration paid or to be paid for the transfer of title. (Such consideration is defined in N.J.S.A. 46:15-5.) Notary Public       Type or Print Name Quitclaim Deed Page 2 of 2 ©2000 by ALL-STATE LEGAL ® Exhibit A Grantors:       Grantees:             Legal Description:       Quitclaim Deed Exhibit A