deed of correction

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rdema19403

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This is a deed of correction
(father in law) as to 75.0% interest (son)as to 25% interest (hereinafter the Grantees), as joint tenants with Rights of Survivorship's as to respective interests.
Mother in law passed away 2009 making father in law the sole legal owner of said property and
whereas now father in law for consideration described herein below wishes to convey a partial interest in said property to his son and

Whereas a deed was recorded in the office of recorder of deeds 2010 in which the incorrect partial interest for each respective party to said Deed were described therein;and

Whereas the parties herein now wish to correct said deed by stipulating to the correct partial interests to be conveyed to each party.


This is in Pennsylvania there are 2 more siblings my wife and my sister in law do they get anything out of this or does my brother in law get everything if my father in law passes on
I do not quite understand what the document is saying.
Thanks in advance
 
This is a deed of correction
(father in law) as to 75.0% interest (son)as to 25% interest (hereinafter the Grantees), as joint tenants with Rights of Survivorship's as to respective interests.
Mother in law passed away 2009 making father in law the sole legal owner of said property and
whereas now father in law for consideration described herein below wishes to convey a partial interest in said property to his son and

Whereas a deed was recorded in the office of recorder of deeds 2010 in which the incorrect partial interest for each respective party to said Deed were described therein;and

Whereas the parties herein now wish to correct said deed by stipulating to the correct partial interests to be conveyed to each party.


This is in Pennsylvania there are 2 more siblings my wife and my sister in law do they get anything out of this or does my brother in law get everything if my father in law passes on
I do not quite understand what the document is saying.
Thanks in advance

One person (A) owned the property alone.
That one person (A) subsequently claimed a 3/4 interest in the property, thereby giving a 1/4 interest to the other party, B.
There is noting left for anyone else to own.
If (A) were to predecease (B), (A's) 3/4 interest would revert to (B) by rights to survivorship; (B) would now own 100%.
Contrarily, if (B) were to predecease (A), (A) would onec again own 100% of the property.

If (A) or (B) ended up owning 100% due to the demise of the other party, and (A) or (B) should expire, the property would pass per their wil (if either had one), or it would pass via intestacy.

I suggest to you speak with a lawyer and have him or her review the entire document, don't take my answer as the gospel.
I have not read the complete document in its entirety, and do not plan on doing so.
If you desire a complete answer, you need to make sure the deed is completely understood and that it is legal.
 
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