Property ownership by two or more people can take several forms, such as joint tenants with rights of survivorship and tenancy in common. The property deed that is transferred from the seller to the buyer will generally specify the type of joint ownership desired by the buyers. However, state law will generally specify the default type of ownership if two or more buyers purchase real property and the type of ownership is not specified in the deed. Research the default rule for joint ownership in your state. In your forum share the codified default rule for joint ownership of real property if the preferred type of ownership is not specified in the deed. The best source for this type of information is your state’s statutes but there are certainly other sources. Next, in your own words assess and give an example of at least two of the grantors warrantees in reference to a deed for real property.
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