North Dakota Warranty Deed from Corporation to Two Individuals
What is this form?
The Warranty Deed from Corporation to Two Individuals is a legal document used to transfer ownership of real property from a corporation (the Grantor) to two individuals (the Grantees). This form guarantees that the Grantor has the legal right to convey the property, and it ensures the Grantees receive it free of encumbrances, except for specified reservations such as oil, gas, and mineral rights. This deed differs from other deed types by involving a corporate entity as the seller and designating joint tenants with rights of survivorship for the Grantees.
What’s included in this form
- Identification of the Grantor (the corporation) and the Grantees (the two individuals).
- Legal description of the property being transferred, included as Exhibit A.
- Statement reserving oil, gas, and mineral rights to the Grantor.
- Covenant that the property is free from encumbrances and the Grantor will defend the title.
- Joint tenancy clause specifying the rights of the Grantees after one party passes away.
- Space for signatures and notarization details.
When to use this form
This Warranty Deed is typically used when a corporation is transferring property to two individuals, particularly when they wish to hold the property as joint tenants. It is relevant in situations involving real estate transactions between corporate entities and private individuals, especially if the Grantees intend to manage the property together and want the right of survivorship.
Who needs this form
- Corporations looking to transfer property to individuals.
- Individuals who are co-owners of property being transferred from a corporation.
- Real estate attorneys assisting clients in corporate property transactions.
- Accountants or financial advisors advising corporate clients on asset transfers.
How to prepare this document
- Identify the parties involved: the corporation as the Grantor and the two individuals as Grantees.
- Provide the legal description of the property being transferred.
- Clearly state any reserved rights, particularly oil, gas, and minerals.
- Sign the document in the presence of a notary public, ensuring the correct dates are filled in.
- Make copies for all parties involved and for public records as required.
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 to avoid
- Failing to include the complete legal description of the property.
- Not reserving rights appropriately or misunderstanding what is being reserved.
- Skipping notarization or not signing in the presence of a notary public.
- Leaving out the date of the transaction.
Why use this form online
- Convenience of downloading and customizing the document from anywhere at any time.
- Editability allows users to tailor the form to their specific transaction needs.
- Access to professionally drafted content ensures legal compliance and validity.
Key takeaways
- This form transfers real estate from a corporation to two individuals.
- It includes important clauses about mineral rights and joint tenancy.
- Notarization is required for the deed to be legally effective.
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FAQ
If you've recently married and already own a home or other real estate, you may want to add your new spouse to the deed for your property so the two of you own it jointly. To add a spouse to a deed, all you have to do is literally fill out, sign and record a new deed in your county recorder's office.
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 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.
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.
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.
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 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.
