New Mexico Warranty Deed from Individual to Corporation
What this document covers
This Warranty Deed from Individual to Corporation is a legal document where an individual, known as the grantor, transfers property ownership to a corporation, the grantee. Unlike other deeds, this form specifically outlines that the grantor conveys the property while reserving all oil, gas, and minerals beneath the surface. This deed ensures that the corporation receives a clear title to the property, free from encumbrances, while clarifying the rights retained by the grantor regarding subsurface resources.
Key parts of this document
- Identification of the grantor and grantee
- Description of the property being transferred
- Reservation of oil, gas, and minerals by the grantor
- Covenant of title assurance from the grantor
- Tax obligations and proration details
- Notary section for formal validation
When this form is needed
This form is useful when an individual wishes to transfer real estate ownership to a corporation. Typical scenarios include a sole proprietor transitioning property to a newly formed corporation for liability protection, or when an individual investor sells property to a corporate entity for business purposes. Using this warranty deed helps ensure legal clarity and protects both parties' interests in the transaction.
Intended users of this form
- Individuals who own property and wish to sell or transfer it to a corporation
- Business owners creating a corporate entity to formalize ownership of real property
- Real estate attorneys assisting clients with property transfers
How to complete this form
- Identify and enter the full names and addresses of the grantor and grantee.
- Clearly describe the property being conveyed, including any relevant identifiers.
- Specify any reservations, such as oil, gas, and minerals, intended to remain with the grantor.
- Determine the tax obligations related to the property and how they will be prorated or paid.
- Sign the document in the presence of a notary public to ensure its validity.
Does this document require notarization?
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.
Mistakes to watch out for
- Not fully describing the property, which can lead to disputes.
- Failing to include necessary reservations for subsurface rights.
- Not having the deed notarized, which can render it invalid.
Benefits of completing this form online
- Convenient access allows for easy downloads and modifications.
- Templates are drafted by licensed attorneys for legal reliability.
- Remote completion and notarization can save time and eliminate travel.
Main things to remember
- A warranty deed from individual to corporation conveys ownership while reserving certain rights.
- This form maintains legal clarity in property transactions.
- Proper completion and notarization are crucial for the deed's validity.
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FAQ
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.
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.
Fill out the "grantor" section of the warranty deed. The grantors are the givers, or current owners, of the property. Use the legal name of each grantor and insert current addresses after each grantor's name.
A warranty deed guarantees that: The grantor is the rightful owner of the property and has the legal right to transfer the title.The title would withstand third-party claims to ownership of the property. The grantor will do anything to ensure the grantee's title to 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
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.
Step 1 Write in the name of the grantor or seller. Step 2 Fill in the name and address of the grantee or buyer. Step 3 Specify the property information including county, lot, block and recording information. Step 4 Sign and date in the presence of a notary public.