Misc. Notes Flashcards
warranty deed with right of survivorship
evidenced by the language for their joint lives and survivor of them
creates a joint tenancy (sometimes called a survivorship tenancy) between two or more grantees
the grantees own an undivided interest in the whole
upon the death of one joint tenant
his interest passes in equal shares to the surviving joint tenants and an affidavit is filed in the country deed records to evidence the transfer
the decedents interst
is not a probate asset, but is included in the estate for ohio tax purposes
a recent change in law permits the joint tenants to hold title in unequal shares
a conveyance by less than all of the joint tenants
may not ultimately vest the new grantee with good title
where husband and wife are in title in survivorship
divorce terminates the survivorship tenancy and creates a tenancy in common between ex-spouses unless the divorce decree specifically provides otherwise
estate by the entireties deed
identical to the warranty deed with survivorship except this deed was limited to a husband and wife
by statute, the estate by the entireties deed form
was eliminated on april 4, 1985 but the legislation was prospective only. that is, persons holding title under this form continue to do so
the key feature of this deed was that creditors of one spouse could not attach the real estate held jointly by both spouses
quit claim deed
most common form of deed in ohio
there are no warranties of title included in this deed as the grantor only conveys whatever interest he has
as a result, the grantee has no recourse by virtue of this type of deed against the grantor for defects in title or for ownership not being as expected
multiple grantees can hold title as tenants in common or, with the required language, as a survivorship tenancy
