Fill and Sign the One Individual to Two 2 Individuals Form

© 2016 - U.S. Legal Forms, Inc. ARKANSAS BENEFICIARY OR TRANSFER ON DEATH DEED [One Individual to Two (2) Individuals] Control Number: AR-028-77 I. TIPS ON COMPLETING THE FORMSThe 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 Arkansas, 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 outside probate.2. If the Grantees ARE married to each other, they can hold the property as:a. Tenants in Common – See aboveb. Joint Tenants with the Right of Survivorship – See abovec. Tenants by the Entirety - a type of concurrent estate 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 , . . .” III. 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Beneficiary Deed Page 1 of 2This document prepared by (and after recording return to):Name: Firm/Company: Address: Address 2: City, State, Zip: Phone: ))))))))))--------Above This Line Reserved For Official Use Only------------- BENEFICIARY DEED (One Individual to Two Individuals) CAUTION: THIS DEED MUST BE RECORDED PRIOR TO THE DEATH OF THE GRANTOR IN ORDER TO BE EFFECTIVE.GRANTOR: ______________________________, an individual, married unmarried, for a non-monetary, intangible consideration, of value to the Grantor, Hereby Conveys Unto GRANTEES: ______________________________, married unmarried, and ______________________________, married unmarried, hereinafter “Grantees”, as , effective on my death, the following lands and property, together with all improvements located thereon, lying in the County of ______________________, State of Arkansas, to-wit: See Attached as Exhibit A incorporated by reference as though set forth in full Legal Description: Prior instrument reference: Book ______ , P ag e _ _____ , D ocu m en t N o. _ _____ , o f th e Re co rd er o f ______________________ County, Arkansas.If any Grantee Beneficiary precedes me in death, then: (choose one)a. the conveyance to the deceased Grantee Beneficiary shall become null and void and the entire estate shall pass to the surviving Grantee Beneficiary at the time of my death. Beneficiary Deed Page 2 of 2b. the conveyance to the deceased Grantee Beneficiary shall become part of the estate of the deceased Grantee Beneficiary.If both Grantee Beneficiaries precede me in death, this deed shall become null and void.SUBJECT to all easements, rights-of-way, protective covenants and mineral reservations of record, if any. WIT N ESS G ra n to r’ s h an d t h is t h e _ ___ d ay o f _ _______________ , 2 0 ____ . Signature of Grantor Type/Print Name State of _______ _________County of ______________________ The foregoing instrument was acknowledged before me this ____________ day of ______________________ ____________, by ______________________ (person). ________________________________ NOTARY PUBLIC Print Name: ______________________ My Commission Expires: ______________________Grantor: Name, Address, Phone Grantee: Name, Address, Phone Grantee: Name, Address, Phone Beneficiary Deed Exhibit A EXHIBIT A Grantor: Grantees: Legal Description: