Oklahoma Warranty Deed from Corporation to Two Individuals
Understanding this form
The Warranty Deed from Corporation to Two Individuals is a legal document that transfers ownership of real estate from a corporation (the Grantor) to two individual parties (the Grantees). This specific type of warranty deed ensures that the property is free from encumbrances, except for noted exceptions, and provides a guarantee of a clear title to the property being transferred. It is essential to use this form when a corporation is selling or transferring property directly to two individual buyers, ensuring legal clarity and protection for both parties involved in the transaction.
Main sections of this form
- Description of the property being conveyed.
- Reference to prior instrument details, including book and page numbers.
- Reservation clauses for oil, gas, and minerals.
- Joint tenancy clause with right of survivorship.
- Tax proration agreement between the Grantor and Grantees.
- Signatures of the authorized corporate representatives and the notary public.
Common use cases
This form should be used when a corporation intends to transfer ownership of property to two individuals. Situations where this warranty deed is appropriate include real estate sales, property gifts, or any transaction where a corporation is divesting its interest in real estate to individual buyers, providing them with legal assurance of ownership rights.
Who this form is for
- Corporations looking to transfer real estate ownership.
- Individuals receiving property from a corporation.
- Real estate attorneys handling property transactions involving corporate ownership.
- Individuals who are not familiar with complex legal documents but require a clear and straightforward warranty deed.
Completing this form step by step
- Identify the parties: Enter the name of the corporation as the Grantor and the names of the two individuals as Grantees.
- Describe the property: Provide the specific details and legal description of the property being transferred.
- Fill in reference information: Complete the prior instrument details, including book, page number, and document number.
- Specify tax arrangements: Indicate how taxes for the current tax year will be divided between the Grantor and Grantees.
- Sign and notarize: Have the authorized corporate representative sign the document and complete the notarization process as required.
Notarization guidance
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
- Not accurately describing the property being transferred, which can lead to disputes.
- Failing to include all required signatures, especially from the authorized corporate representative.
- Omitting prior instrument details, making the deed less enforceable.
- Incorrectly handling tax prorations, which can lead to financial disagreements later.
Why complete this form online
- Convenience: Downloadable forms allow you to complete your legal documents from anywhere, at any time.
- Editability: You can easily modify the template to suit your specific transaction needs.
- Reliability: Forms are drafted by licensed attorneys, ensuring compliance with current legal standards.
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FAQ
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.
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.
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.
Laws § 16-40. Recording (A§ 16-16) Must be filed with the Register of Deeds in the County where the property is located. Signing (A§ 16-26) The Grantor(s) are required to sign this form in the presence of a Notary Public. Step 1 Write in the date of the deed. Step 2 Fill in the name of the person selling.
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.
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.
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.
