North Carolina General Warranty Deed from two Individuals to Corporation
Overview of this form
The General Warranty Deed from two Individuals to Corporation is a legal document that facilitates the transfer of real property ownership from two individual grantors to a corporate grantee. This form ensures that the grantors are conveying clear title to the property and provides warranties against any claims. Unlike other deeds, this warranty deed provides the grantee with the highest level of protection, assuring that the property is free from encumbrances, except as noted in the deed.
Form components explained
- Grantors and Grantee: The form identifies the two individuals as grantors and the corporation as the grantee.
- Description of Property: A legal description of the property being conveyed, including its location.
- Warranties: Grantors warrant that they hold clear title to the property and agree to defend against any claims.
- Exemptions: The deed specifies exceptions, such as the reservation of oil, gas, and minerals.
- Signatures and Notarization: The document requires signatures from both grantors and must be notarized for validity.
State law considerations
This form can be used in various states, but specific requirements for execution and recording may vary. Ensure to comply with local laws regarding deed transactions in your state.
Common use cases
This form should be used when two individuals wish to transfer their property ownership to a corporation. Common scenarios include transferring real estate owned by partners or individuals to their business entity. Using this warranty deed provides legal assurances to the corporation that the title to the property is not encumbered, making it an essential tool in corporate real estate transactions.
Who can use this document
- Individuals who own real property and wish to transfer ownership to a corporation.
- Business owners looking to formalize property ownership under their corporate entity.
- Real estate professionals involved in corporate transactions requiring clear title transfer.
How to complete this form
- Identify the parties involved: Clearly write the names of the two grantors and the corporate grantee.
- Specify the property: Include a detailed description of the real property being transferred as instructed.
- Outline warranties: Acknowledge and affirm the covenants made by the grantors regarding clear title.
- Enter the date and sign: Both grantors must sign and date the form in the designated sections.
- Notarize the document: Have the deed notarized to ensure it is legally valid and enforceable.
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.
Typical mistakes to avoid
- Failure to provide complete legal descriptions of the property.
- Not having both grantors sign the form.
- Neglecting to notarize the document before submission.
- Omitting any exceptions or reservations regarding the title.
Why complete this form online
- Convenient access to legal forms that can be downloaded and completed at any time.
- Editability to personalize the form as needed before finalizing.
- Reliability, knowing the forms are drafted by licensed attorneys to ensure compliance with legal standards.
Legal use & context
- The general warranty deed is recognized across legal jurisdictions and provides protections to the grantee.
- It is enforceable in court, ensuring that the title is defended against any future claims for as long as the grantee holds the property.
- Specific warranties offered may vary; always ensure you understand the implications of the warranties provided.
Main things to remember
- The General Warranty Deed is essential for transferring property from individuals to a corporation.
- This deed offers strong legal protection for the grantee regarding ownership and title.
- Proper execution, including notarization, is crucial for the deed's validity.
Form popularity
FAQ
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.
Recording All deeds must be filed in the Register of Deeds in the County where the real estate is located. Signing (§ 47-38) All deeds must be signed with the Grantor(s) signing in front of a Notary Public.
Let's start with the definition of a deed: DEED: A written instrument by which one party, the Grantor, conveys the title of ownership in property to another party, the Grantee. A Warranty Deed contains promises, called covenants, that the Grantor makes to the Grantee.
Under the Grantor section of the deed, write the name of the person transferring title. Under Grantee, write the name of the person receiving title. Describe the parcel of land. Use the street address and include the North Carolina County where the land is located.
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.
A warranty deed is a common real estate deed in North Carolina used to transfer title to real property. A typical warranty deed contains covenants of seisin, right to convey, marketability of title, freedom from encumbrances, and covenants of warranty from the grantor to the grantee.
The name and address of the seller (called the grantor) The name and address of the buyer (called the grantee) A legal description of the property (found on the previous deed) A statement that the grantor is transferring the property to the grantee.
To make the form legally binding, you must sign it in front of a notary public. You must then file your signed and notarized deed with the county office that's in charge of recording property documents. Once the grantee signs the warranty deed, he/she legally has ownership and claim to the property.
