A Grant deed is a deed where the grantor of property makes certain guarantees to the person whom he or she is conveying the property to, the grantee. The grantor guarantees that he/she holds clear title to a piece of real estate and has the right to sell it. This guarantee extends beyond the grantors own possession of the property, and all the way back to its origins. This Grant deed also guarantees the property is free from all encumbrances, except as set forth in the document, that the Grantee will be able to quietly enjoy the property; and that the grantor will forever warrant and defend the title to the property against any lawful claims and demands.
Some States, such as California, use Grant deeds, while other states, such as Oregon, use Warranty deeds. Before deciding on which deed document to use be sure to check with the laws of the state where the property to be conveyed is located.
Joint tenants own equal shares to property and like tenants in common, they have the right to possess the whole. The major difference is that joint tenants have rights of survivorship. The death of one joint tenant causes the entire property interest to pass to the other joint tenant or tenants. However, a joint tenant may, during his lifetime, transfer his interest to a third party. The affect of this transfer is that the transferee becomes a tenant in common with the remaining joint tenants. If there were more than two joint tenants to begin with, the joint tenancy relationship between the non transferring owners is not disturbed with regard to each other, only with regard to the transferee.
Use this document to create a Grant deed conveying property to multiple parties who wish to take title as joint tenants with rights of survivorship.