Alabama Warranty Deed from two Individuals to Corporation
About this form
This Warranty Deed from two Individuals to Corporation is a legal document that transfers property ownership from two individuals (the Grantors) to a corporation (the Grantee). It guarantees the property title and includes specific provisions about the property being transferred. Unlike other deeds, this form explicitly states that oil, gas, and minerals are reserved by the Grantors, making it unique in property transactions.
What’s included in this form
- Identification of the Grantors and Grantee.
- Legal description of the property being conveyed.
- Covenant of seisin, assuring the Grantors' lawful ownership and free title.
- Reservations regarding oil, gas, and minerals owned by the Grantors.
- Proration of taxes between Grantors and Grantee for the current tax year.
- Signature and acknowledgment by a Notary Public.
When to use this form
This form is used when two individuals wish to transfer property to a corporation while ensuring that they retain rights to any oil, gas, and minerals beneath the property. It is particularly applicable in real estate transactions where a business entity is involved in acquiring property from individual owners.
Who this form is for
- Individuals who own property and want to transfer it to a corporation.
- Corporations looking to acquire property from individual owners.
- Real estate professionals facilitating transactions involving corporations.
- Legal representatives assisting clients with property transfers.
Instructions for completing this form
- Identify the Grantors (individuals) and the Grantee (corporation) involved in the transaction.
- Provide the legal description of the property in the designated area.
- State the reservations for oil, gas, and minerals, if applicable.
- Enter the date of the transfer and ensure all parties sign the document.
- Have the document notarized to ensure legal validity.
Is notarization required?
This form must be notarized to be legally valid. US Legal Forms provides secure online notarization powered by Notarize, allowing you to complete the process through a verified video call.
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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 to avoid
- Failing to include the legal description of the property accurately.
- Not specifying the reservation of oil, gas, and minerals, leading to misunderstandings.
- Forgetting to notarize the document, which may invalidate the deed.
- Not prorating taxes correctly between the Grantors and Grantee.
Advantages of online completion
- Convenience: Easily download and complete the form from the comfort of your home.
- Editability: Modify the document as needed to fit specific circumstances.
- Reliability: Forms are drafted by licensed attorneys, ensuring legal compliance.
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FAQ
A warranty deed, also known as a general warranty deed, is a legal real estate document between the seller (grantor) and the buyer (grantee). The deed protects the buyer by pledging that the seller holds clear title to the property and there are no encumbrances, outstanding liens, or mortgages against it.
The Alabama statutory warranty deed form provides a limited warranty of title. With a statutory warranty deed, the person transferring the property guarantees that he or she has done nothing that would cause title problems, but makes no guarantees about what might have happened before he or she acquired the property.
Adding someone to your house deed requires the filing of a legal form known as a quitclaim deed. When executed and notarized, the quitclaim deed legally overrides the current deed to your home. By filing the quitclaim deed, you can add someone to the title of your home, in effect transferring a share of ownership.
Retrieve your original deed. Get the appropriate deed form. Draft the deed. Sign the deed before a notary. Record the deed with the county recorder. Obtain the new original deed.
Quit Claim Deeds in Alabama So not only is the grantor not guaranteeing that there are no liens or encumbrances on the property, they aren't even guaranteeing they own the property. Our local property deed attorneys are currently charging $250 to prepare your quit claim deed for you to record yourself.
The only way to forcibly change the ownership status is through a legal action and the resultant court order. However, if an owner chooses to be removed from the deed, it is simply a matter of preparing a new deed transferring that owner's interest in the property.
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.
Find the most recent deed to the property. Create the new deed. Sign and notarize the deed. Record the signed, notarized original deed with the Office of the Judge of Probate.
Quit Claim Deeds in Alabama It is called a Quitclaim Deed because when the grantor transfers the property to the buyer (i.e., the grantee), it terminates the grantor's rights and claims to the property. Unlike with Warranty Deeds, Quitclaim Deeds contain no title covenants.
