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What is the difference between a warranty deed and a mortgage?

According to , a general warranty deed guarantees that: The grantor legally owns the property and has the legal right to transfer it. There are no outstanding mortgages, liens or other claims against the property by any creditor.

What is the difference between co ownership and joint ownership?

Joint ownership of property is simply a case in which two or more people own the same piece of property. Co-owners do not have to be people. They might be other kinds of legal entities, e.g. partnerships or corporations. There are a number of ways in which two or more people can own property together.

Does Indiana recognize joint wills?

Yes. Joint wills are recognized in Indiana. However, I recommend that two (2) separate documents be prepared. A joint will has been interpreted by some cases in Indiana to be a contract with your spouse.

What is a special warranty deed in Indiana?

The Indiana special warranty deed form provides a limited warranty of title. With a special warranty deed, the person transferring the property guarantees that he or she has done nothing that would cause title problems, but makes no guarantees about what might have happened before he or she acquired the property.

What happens to a jointly owned property if one owner dies?

So when a property is owned jointly, and it is a tenancy-in-common arrangement, in such a case a co owner dies, his or her share of property DOES NOT go to the co owners automatically. The share of the property is transferred to the legal heirs of the deceased co owner.

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Is Indiana a joint tenancy state?

In Indiana, these forms of joint ownership are available: Joint tenancy. Property owned in joint tenancy automatically passes to the surviving owners when one owner dies. No probate is necessary.

Is Indiana a right of survivorship state?

In Indiana, joint tenants can own real property jointly as tenants in common or as joint tenants with right of survivorship. Residents can also own certain personal property jointly as tenants in common or as joint tenants with right of survivorship.

How do I get a copy of my warranty deed in Indiana?

You can get a copy of your deed or mortgage release/satisfaction from the Recorders office, and our staff can help you with your search. However, we cannot conduct searches for you. Companies may contact you and offer to send a copy of your deed for $60 or more.

When property is held in joint tenancy upon the death of one of the joint tenants his or her interest in the property automatically?

Each party in a joint tenancy has an equal interest in the propertythe financial obligations as well as any benefits. A joint tenancy creates a right of survivorship, which means that if one party dies, their interest is automatically transferred to the surviving tenant(s).

What is another name given to a special warranty deed?

A special warranty deed (also called a grant deed, covenant deed, or limited warranty deed) is a deed form that transfers property with a warranty of title limited to the period when the signing owner owned the property. A special warranty requires special language to ensure that the deed qualifies.

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Is Indiana a joint tenancy state?

Is Indiana a right of survivorship state?

How do I get a copy of my warranty deed in Indiana?

When property is held in joint tenancy upon the death of one of the joint tenants his or her interest in the property automatically?

What is another name given to a special warranty deed?

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Get the up-to-date Warranty Deed for Separate or Joint Property to Joint Tenancy - Indiana 2024 now

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The easiest way to edit Warranty Deed for Separate or Joint Property to Joint Tenancy - Indiana in PDF format online

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Got questions?

What is the difference between a warranty deed and a mortgage?

What is the difference between co ownership and joint ownership?

Does Indiana recognize joint wills?

What is a special warranty deed in Indiana?

What happens to a jointly owned property if one owner dies?

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Is Indiana a joint tenancy state?

Is Indiana a right of survivorship state?

How do I get a copy of my warranty deed in Indiana?

When property is held in joint tenancy upon the death of one of the joint tenants his or her interest in the property automatically?

What is another name given to a special warranty deed?

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