Alaska Warranty Deed from Corporation to Two Individuals
Understanding this form
The Warranty Deed from Corporation to Two Individuals is a legal document that facilitates the transfer of property ownership from a corporation (the Grantor) to two individuals (the Grantees). This deed guarantees that the property title is clear, and it specifies that the Grantor conveys the property with certain reservations, such as all oil, gas, and mineral rights. Unlike other property transfer documents, this warranty deed provides assurances about the title's validity, protecting the Grantees against future claims.
Key parts of this document
- Parties involved: identifies the Grantor (corporation) and the Grantees (two individuals).
- Property description: includes a detailed legal description of the conveyed property.
- Warranties: outlines the Grantor's assurances regarding the clear title and absence of encumbrances.
- Joint tenancy provision: specifies how ownership is structured between Grantees, including rights of survivorship.
- Execution details: includes space for signatures and notary acknowledgment to validate the deed.
Common use cases
This warranty deed is typically used when a corporation wishes to transfer property to two individuals. It is appropriate in situations such as a corporate asset liquidation, a transfer for estate planning purposes, or when creating joint ownership of property for investment or residential use. This form ensures that both parties are legally protected by documenting the transfer and specifying ownership rights.
Who needs this form
- Corporations looking to transfer real estate to individuals.
- Individuals receiving property from a corporation.
- Real estate attorneys assisting clients with ownership transfers.
Steps to complete this form
- Identify the Grantor: Fill in the corporation's name and relevant legal details.
- Identify the Grantees: Enter the full names and addresses of the two individuals receiving the property.
- Specify the property: Include a detailed legal description of the property being conveyed.
- Complete the warranty clauses: Review and ensure that the warranties about the title and any exceptions are accurately stated.
- Sign and notarize: Have the Grantor sign the deed and obtain notarization to make it legally binding.
Does this document require notarization?
To make this form legally binding, it must be notarized. Our online notarization service, powered by Notarize, lets you verify and sign documents remotely through an encrypted video session.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes
- Failing to include a complete legal description of the property can lead to disputes.
- Neglecting to specify the rights of survivorship in the joint tenancy provision.
- Not obtaining notarization, which is critical for the validity of the deed.
Advantages of online completion
- Convenient access to legally compliant forms from anywhere, at any time.
- Editability allows for customization to meet specific needs without starting from scratch.
- Reliability of templates drafted by licensed attorneys ensures legal precision.
Summary of main points
- This warranty deed allows for the transfer of property from a corporation to two individuals.
- It provides legal assurances about the title, making it a strong option for property conveyances.
- Notarization is required for the deed to be legally valid.
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FAQ
A warranty deed guarantees that: The grantor is the rightful owner of the property and has the legal right to transfer the title.The title would withstand third-party claims to ownership of the property. The grantor will do anything to ensure the grantee's title to the property.
A special warranty deed to real estate offers protection to the buyer through the seller's guarantee that the title has been free and clear of encumbrances during their ownership of the property. It does not guarantee clear title beyond their ownership.
Typically, the lender will provide you with a copy of the deed of trust after the closing. The original warranty deeds are often mailed to the grantee after they are recorded. These are your original copies and should be kept in a safe place, such as a fireproof lockbox or a safe deposit box at a financial institution.
The original deed is returned to the owner of the property from the office of the recorder after proper entry. The office of the Recorder of Deeds maintains a set of indexes about each deed recorded, for an easy search. Almost all states have a grantor-grantee index including a reference to all documents recorded.
It's important to note that a warranty deed does not actually prove the grantor has ownership (a title search is the best way to prove that), but it is a promise by the grantor that they are transferring ownership and if it turns out they don't actually own the property, the grantor will be responsible for compensating
Special warranties allow the transfer of property title between seller and buyer. The purchase of title insurance can mitigate the risk of prior claims to the special warranty deed.
The mortgage company usually prepares this deed as part of the loan package and delivers it to the title company for you to sign at closing. The title company is commonly the trustee to the deed and holds legal title to the property until the loan gets fully repaid.
After your Warranty Deed has been recorded at the County Clerk's Office, it can be sent to the grantee. However, any person or corporation can be designated as the recipient of the recorded Warranty Deed.
Corporate warranty deeds offer the seller's guarantee to the buyer in regards to the validity of the chain of title. Generally, special warranty deeds only protect against problems occurring since the seller purchased the property.
