Summary
A second grantee on a Quit Claim Deed in New York is an additional person receiving property interest. Ownership division depends on how grantees are listed: Joint Tenants have equal shares with survivorship rights, while Tenants in Common can have unequal shares without survivorship rights. The Social Security Remainder Interest Table is not used for Quit Claim Deeds. To list grantees and ownership percentages, specify each grantees name and ownership percentage. If not Joint Tenants or Tenants in Common, ownership percentages can still be specified. New York lacks a specific form for Quit Claim Deed dissolution; a new deed must be drafted to transfer ownership.Full Conversation
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Is your concern related to how the ownership is divided among the grantees, or are you facing a different issue with the quit claim deed?
How is the ownership divided?
In New York, ownership division among grantees on a Quit Claim Deed depends on how the grantees are listed:
- Joint Tenants: Equal ownership shares with rights of survivorship.
- Tenants in Common: Ownership shares can be unequal, and there's no right of survivorship.
Is there a specific way the grantees are listed on your deed?
Is the Social Security Remainder Interest Table used for making a Quit Claim Deed?
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The Social Security Remainder Interest Table is generally not used for determining ownership or creating a Quit Claim Deed. It is more commonly used for calculating the present value of future interests in annuities, life estates, and similar interests for tax purposes.
Would you like more detailed information on how to list grantees on your Quit Claim Deed or any other aspect related to it?
Yes.
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The Social Security Remainder Interest Table is not typically used in creating a Quit Claim Deed. Listing grantees depends on your intention of ownership division.
Would you like more information on how to list grantees or any other specific detail regarding your quit claim deed?
How do I list Grantees and ownership percentages on a Quit Claim Deed?
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To list grantees and their ownership percentages on a Quit Claim Deed in New York, follow these steps:
*. Specify Grantees: Clearly list each grantee's full name.
*. Ownership Percentages: Indicate the percentage of ownership for each grantee.
*. Type of Ownership: Define whether the ownership is as Joint Tenants or Tenants in Common.
Would you like more details on any of these steps?
We are neither Joint Tenants or Tenants in common. I will be *% owner and my married daughter will be *% owner. I will live in the house by myself.
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In New York, if you're neither Joint Tenants nor Tenants in Common, you can still specify ownership percentages directly on the Quit Claim Deed.
- Clearly list each grantee's full name.
- Specify the ownership percentage for each grantee.
Would you like more detailed information on drafting the Quit Claim Deed or any other aspect?
No. Thank you.
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It seems your query about listing grantees and ownership percentages on a Quit Claim Deed in New York has been addressed. If you have any more questions or need further assistance in the future, feel free to reach out.
Is there a form for a Quit Claim Deed dissolution in New York State?
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New York State does not have a specific form for the dissolution of a Quit Claim Deed. However, you can use a similar process to create a new deed to transfer ownership. Here are the steps:
- Draft a new Quit Claim Deed.
- Clearly list the current owners as the grantors.
- Specify the new ownership arrangement.
Is there any particular detail or aspect you need help with regarding the dissolution process?
No.
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Your quit claim deed questions seem resolved. If you have more legal queries or need further assistance, feel free to ask!
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