1. Parties. [Name and address of joint tenant] and [name and address of joint tenant] hold the Property located at [address, county, state, legal description of property] as joint tenants.
2. Status of Property. The parties agree that from the date of this Agreement, the Property held by them at [address] shall be held by them as follows:
a. [Name] shall hold an undivided ........ percent (........%) interest in [address of property]. His assigns and transfers shall be entitled to all of his right, title, and interest in this Property.
b. [Name] shall hold an undivided ........ percent (........%) interest in [address of property].
His assigns and transfers shall be entitled to all of his right, title, and interest in this Property.
3. Other Instruments. The parties agree to execute and deliver any other instruments necessary to effectuate this Agreement.
IN WITNESS WHEREOF, the parties have set their hands this [date].