Legal Question in Real Estate Law in California
Quitclaim forms
On a quitclaim form, how would you list 3 people under
grantee(s). example: Would you say Smith and Barney and
Moore with right of survivorship or would you insert ''or'' in
place of ''and''.
2 Answers from Attorneys
Re: Quitclaim forms
I wouldn't generally quitclaim real estate to three people as joint tenants. This is generally tax stupid. Talk to a lawyer about what you are doing and why.
Re: Quitclaim forms
Three grantees (assuming no grantee is married to any other grantee) could take title as joint tenants with right of survivorship or as tenants in common. The latter is more common.
The wording would be, "....to A, B and C, as joint tenants with right of survivorship" or "to A, B and B as tenants in common, each with a 1/3 undivided interest."
However, your question leaves out much too much for anything ohter than the foregoing skeletal and theoretical answer. If you want useful real-world advice, provide more particulars.
Whenever two or more unrelated persons become cotenants, they should first enter into a written agreement specifying what their respective rights and obligations are (payment of principal, interest, collecting rent, paying taxes, maintenance, who gets possession, decision-making on a future development or sale, how the inevitable disputes will be handled, inheritance of interests, etc.
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