Fill and Sign the Warranty Deed to Child Reserving a Life Estate in the Parents Minnesota Form

© 2016 - U.S. Legal Forms, Inc.       MINNESOTA QUITCLAIM DEED [One Individual to Three Individuals] Control Number: MN-021-77 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 Colorado 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 ,” III. DISCLAIMER These materials were developed by U.S. Legal Forms, Inc. based upon statutes and forms for the state of Minnesota. 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. The products offered by U.S. Legal Forms (USLF) are not a substitute for the advice of an attorney. THESE MATERIALS ARE PROVIDED “AS IS” WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND INCLUDING WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OF INTELLECTUAL PROPERTY, OR FITNESS FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL U.S. LEGAL FORMS, INC. OR ITS AGENTS OR OFFICERS BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OR PROFITS, BUSINESS INTERRUPTION, LOSS OF INFORMATION) ARISING OUT OF THE USE OF OR INABILITY TO USE THE MATERIALS, EVEN IF U.S. LEGAL FORMS, INC. HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. (Top 3 inches reserved for recording data) QUIT CLAIM DEED One Individual to Three Individuals DEED TAX DUE: $       DATE:       FOR VALUABLE CONSIDERATION,       , an unmarried individual (“Grantor”) hereby conveys and quitclaims to       , an unmarried individual;       , an unmarried individual; and       (“Grantees”), as       , real property in       County, Minnesota, legally described as follows:       Check here if all or part of the described real property is Registered (Torrens) together with all hereditaments and appurtenances. Check applicable box: Grantor: The seller certifies that the Seller does not know of any wells on the described real property. A well disclosure certificate accompanies this document. I am familiar with the property described in This instrument and I certify that the status and number of wells on the described real property have not changed since the last previously filed well disclosure certificate. Signature of Grantor       Print or Type Name Page 1 of 2 State of Minnesota, County of       This instrument was acknowledged before me on       (date) by       , an unmarried individual. (Seal, if any) Signature of Notarial Officer Title and Rank:       My commission expires:       THIS INSTRUMENT WAS DRAFTED BY: TAX STATEMENTS FOR THE REAL PROPERTY DESCRIBED IN THIS INSTRUMENT SHOULD BE SENT TO:             Name Name             Street Address Street Address             City, State and Zip City, State and Zip Page 2 of 2