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Tenants In Common Deed

Tenants In Common Deed Template for United States

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Key Requirements PROMPT example:

Tenants In Common Deed

"I need a Tenants In Common Deed to transfer my commercial property in Boston to three investors, with ownership splits of 40%, 35%, and 25%, including specific provisions for property management responsibilities and expense sharing."

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Document background
A Tenants In Common Deed is essential when multiple parties wish to own property together while maintaining individual, transferable interests. This document is commonly used in the United States for investment properties, family holdings, or when unrelated parties purchase property together. The deed specifies each owner's percentage interest, enables independent sale or transfer of interests, and ensures that interests pass to chosen heirs rather than co-owners upon death. Unlike joint tenancy, this arrangement doesn't include automatic rights of survivorship. The deed must conform to state-specific requirements and typically requires proper recording with local authorities.
Suggested Sections

1. Title and Date: Identifies document as Tenants in Common Deed and execution date

2. Parties: Names and addresses of Grantor(s) and Grantee(s)

3. Consideration Statement: Statement of consideration paid for the property transfer

4. Property Description: Legal description of the property being transferred

5. Ownership Interests: Specification of percentage interests held by each tenant in common

6. Habendum Clause: Defines the type of estate being granted (tenancy in common)

7. Execution Block: Signature lines, notary block, and witness provisions

Optional Sections

1. Rights and Responsibilities: Detailed outline of co-owners' rights and obligations when parties want to clarify management responsibilities

2. Transfer Restrictions: Any agreed limitations on future transfers of interests when parties want to restrict future sales or transfers

3. Expense Allocation: Agreement on sharing property expenses when parties want to formalize cost-sharing arrangements

Suggested Schedules

1. Property Survey: Detailed survey of the property boundaries and features

2. Title Report: Current title report showing property ownership and encumbrances

3. Property Tax Assessment: Current tax assessment information

4. Ownership Schedule: Detailed breakdown of ownership percentages and contributions

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Clauses






















Industries

State-Specific Property Laws: Core state legislation governing real property transactions, including specific deed formatting requirements, recording requirements, fees, and state-mandated language for deeds

Property Rights and Ownership Laws: Fundamental legal principles governing tenancy in common, including absence of survivorship rights, individual ownership interests, transferability rights, and co-owner responsibilities

Real Estate Transfer Laws: Regulations governing property transfers, including state transfer taxes, local recording requirements, title insurance considerations, and grantor/grantee requirements

Tax Considerations: Federal and state tax implications, property tax allocations, and gift tax considerations that may affect the tenancy in common arrangement

Marital Property Laws: Legal considerations regarding community property states, spousal rights, and dower/curtesy rights where applicable

Title Standards: State-specific title standards, requirements for marketable title, and chain of title considerations ensuring proper property transfer

Statute of Frauds: Legal requirements for written documentation, signatures, notarization, and witness requirements as specified by state law

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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