North Carolina General Warranty Deed from two Individuals to LLC
About this form
The General Warranty Deed from two Individuals to LLC is a legal document used to transfer ownership of real property from two individuals, known as Grantors, to a limited liability company (LLC), referred to as the Grantee. This form guarantees that the Grantors hold clear title to the property, assuring the Grantee against claims from other parties. Unlike other types of deeds, the General Warranty Deed offers the highest level of protection for the Grantee by ensuring the property is free of encumbrances, except for those specifically noted in the document.
Key parts of this document
- Identifying information for the Grantors and Grantee.
- A legal description of the property being transferred.
- Covenants and warranties regarding the title of the property.
- Exclusions regarding oil, gas, and minerals under the property.
- Signature lines for the Grantors and a Notary Public.
When this form is needed
This form is typically used when two individuals wish to convey property to an LLC, providing a clear title to the property while ensuring protection against potential claims. It is especially relevant in real estate transactions involving investment properties, development projects, or business partnerships where ownership needs to be held by an entity rather than individuals. Additionally, it can be used when the Grantors want to reserve rights to specific resources, such as minerals or gas.
Who can use this document
- Two individuals who are transferring property to their limited liability company.
- Real estate investors looking to secure their property ownership through an LLC.
- Business partners who require clear and documented ownership of shared property.
- Individuals aiming to protect their assets by holding property in an LLC.
How to prepare this document
- Identify the parties involved by entering the full names of the Grantors and the Grantee.
- Provide the legal description of the property being transferred.
- Fill in the relevant details, including the date and manner of consideration.
- Review and specify any title exceptions, if applicable.
- Both Grantors must sign the document in the presence of a Notary Public.
Does this form need to be notarized?
This form needs to be notarized to ensure legal validity. US Legal Forms provides secure online notarization powered by Notarize, allowing you to complete the process through a verified video call, available anytime.
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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.
- Not having the document notarized, where required.
- Omitting to specify any exceptions to the title.
- Not having all involved parties sign the document.
Benefits of using this form online
- Convenience of accessing and completing the form from anywhere.
- Editability allows for necessary adjustments before finalizing.
- Reliability of having a form prepared by licensed attorneys ensure compliance with legal standards.
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FAQ
To transfer ownership of land in North Carolina, the owner must execute and file a new deed with the register of deeds for the North Carolina county where the property is located.
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.
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.
A general warranty deed covers the property's entire history. It guarantees the property is free-and-clear from defects or encumbrances, no matter when they happened or under whose ownership.With a special warranty deed, the guarantee covers only the period when the seller held title to the property.
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.
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
The North Carolina general warranty deed is used to transfer property in North Carolina from one person to another legally. A warranty deed comes with a guarantee from the seller that the property has clear title.
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.
