This Warranty Deed from Corporation to Individual form is a Warranty Deed where the Grantor is a corporation and the Grantee is an individual. Grantor conveys and warrants the described property to Grantee less and except all oil, gas and minerals, on and under the property owned by Grantor, if any, which are reserved by Grantor. This deed complies with all state statutory laws.
Michigan Warranty Deed from Corporation to Individual
Category:
State:
Michigan
Control #:
MI-011-78
Format:
Word;
Rich Text
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FAQ
Laws § 565.151. Recording (A§ 565.201) Must be filed with the Registry of Deeds. Signing (A§ 565.8) Must be signed with the Grantor(s) in front of a Notary Public or Officer of the court. Step 1 Insert the name of the grantor in the first line. Step 2 Next, fill in the grantor's address.
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.
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 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.
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.
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.
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
Find the most recent deed to the property. Create the new deed. Sign and notarize the deed. File the deed in the county land records.
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.