Fill and Sign the Warranty Deed from Individual to Two Individuals Oklahoma Form

© 2016 - U.S. Legal Forms, Inc.       OKLAHOMA WARRANTY DEED [Individual to Two Individuals] Control Number: OK-040-78 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 Oklahoma, 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. 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Property Address:             Mailing Address:             WARRANTY DEED [Individual to Two Individuals] GRANTOR :       , an individual whose address is , IN CONSIDERATION of the sum of TEN & NO/100 Dollars ($10.00), and other valuable considerations, in hand paid, the receipt of which is hereby acknowledged, does hereby grant, bargain, sell and convey unto GRANTEES :       , an individual whose address is ; and       , an individual whose address is , as joint tenants with the right of survivorship and not as tenants in common , the following described real property and premises situate in       County, State of Oklahoma, to-wit: See Legal Description Attached as Exhibit A incorporated by reference Warranty Deed Page 1 of 2 Legal Description:       together with all the improvements thereon and the appurtenances thereunto belonging, and warrant the title to the same. TO HAVE AND TO HOLD said described premises unto the said Grantee’s, Grantee’s successors and assigns forever, free, clear and discharged of and from all former grants, charges, taxes, judgments, mortgages and other liens and encumbrances of whatsoever nature. EXCEPT covenants, conditions, easements, restrictions and mineral conveyances of record. IN WITNESS WHEREOF , the Grantor has executed this Warranty Deed on the day and year set forth below. Signature of Grantor       Type/Print Name STATE OF OKLAHOMA , COUNTY OF       The foregoing instrument was acknowledged before me this       day of       ,       , by       . Notary Public       Print or Type Name My commission expires:       Warranty Deed Page 2 of 2 Warranty Deed Page 3 of 2 EXHIBIT A GRANTOR:       GRANTEES:             LEGAL DESCRIPTION:       Warranty Deed Exhibit A