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A North Carolina general warranty deed is used to legally transfer property in North Carolina from one person to another. A warranty deed comes with a guarantee from the seller that the property has clear title.
The third way property can be jointly held in North Carolina is a joint tenancy with right of survivorship. This type of ownership is very similar to a tenancy in common, with one crucial differencethe right of survivorship.
By far the easiest way to divide jointly held property is simply to agree to do it. The joint tenants can simply come up with an agreed division of the property. It may be a good idea to hire an attorney to draw up a legally binding agreement once you and the other joint tenants have agreed in principle to a division.
Thus, in order to extinguish these marital interests during the sale of real property, the deed conveying the real property must include the signatures of both spouses. The bottom line is that in North Carolina, both spouses must sign a deed to sell or transfer real property!
A general warranty deed must include the following to be valid: The name and address of the seller (called the grantor) The name and address of the buyer (called the grantee) A legal description of the property (found on the previous deed) A statement that the grantor is transferring the property to the grantee.
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A general warranty deed protects the grantee against any title defects or claims arising at any point in time. Whereas, a special warranty deed only protects the grantee against title defects arising from the actions or omissions of the grantor during its ownership.
Joint tenancy is a form of co-ownership in which two or more persons, often husband and wife, own property in equal individual interests. Right of survivorship is the key feature of a joint tenancy.
If property is to be used as a primary residence, I generally advise that title be vested in the individuals names. This provides the buyers homestead protection from judgment creditors, and also allows the buyers to take advantage of the real property tax benefits associated with the homestead.
Unlike most other states, North Carolina allows co-owners, called joint tenants, to own unequal shares. Tenancy by the entirety. This form of joint ownership is like joint tenancy, but it is allowed only for married couples in North Carolina. In North Carolina, tenancy by the entirety is allowed for real estate only.
Non-Warranty Deeds In a Non-Warranty or Quitclaim Deed, the seller merely is giving the buyer whatever rights, if any, that the seller has in the property and the seller makes no warranties of any nature about the sellers rights in the property.

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