Oregon Warranty Deed from Corporation to Two Individuals
About this form
The Warranty Deed from Corporation to Two Individuals is a legal document that facilitates the transfer of property ownership from a corporation (the Grantor) to two individuals (the Grantees). This type of deed includes specific warranties regarding the titles and is unique in that it allows two individuals to receive property directly from a corporate entity, while also excluding oil, gas, and minerals rights. It is essential for formalizing property transfers and ensuring rightful ownership among the involved parties.
What’s included in this form
- Details of the Grantor (corporation) and Grantees (two individuals).
- Description of the property being transferred.
- Covenant confirming the Grantor's lawful title to the property.
- Warranties against encumbrances, unless noted otherwise.
- Provisions for prorating taxes related to the property.
Situations where this form applies
This form is particularly useful when a corporation is transferring real estate to two individuals. Common scenarios include family members receiving property from a corporate entity or joint ventures where individuals need to formalize their ownership interests in property held by a corporation. It establishes clear ownership and legal rights, reducing potential disputes.
Who can use this document
- Corporations looking to transfer property to individual owners.
- Individuals who are receiving property from a corporate entity.
- Real estate professionals assisting corporations and individuals with property transactions.
Instructions for completing this form
- Identify the parties involved: the corporation (Grantor) and the individuals (Grantees).
- Clearly describe the property being transferred.
- Include a warranty clause that ensures the Grantor has clear title to the property.
- Specify any encumbrances and conditions related to the property.
- Determine how property taxes will be allocated between the parties.
Does this document require notarization?
This form does not typically require notarization unless specified by local law. However, it's advisable to check jurisdiction-specific requirements to ensure the validity of the deed upon execution.
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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
- Failing to accurately describe the property being transferred.
- Not specifying how taxes will be prorated or paid.
- Leaving out important details about encumbrances.
Why complete this form online
- Convenience of downloading and completing forms at your own pace.
- Editable templates that allow customization to meet specific needs.
- Access to legal forms drafted by licensed attorneys, ensuring compliance.
Quick recap
- The Warranty Deed from Corporation to Two Individuals provides legal protection for the Grantees.
- It is essential for documenting property transfers between corporate entities and individuals.
- Completing the form accurately helps avoid common legal pitfalls in property transactions.
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FAQ
A special warranty deed to real estate offers protection to the buyer through the seller's guarantee that the title has been free and clear of encumbrances during their ownership of the property. It does not guarantee clear title beyond their ownership.
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.
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.
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
In order to make the Warranty Deed legally binding, the Seller needs to sign it front of a notary public. Then signed and notarized deed must be filed at the city or county office for recording property documents. Before filing with this office all previously billed property taxes must be paid in full.
Discuss property ownership interests. Access a copy of your title deed. Complete, review and sign the quitclaim or warranty form. Submit the quitclaim or warranty form. Request a certified copy of your quitclaim or warranty deed.
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.
Special warranties allow the transfer of property title between seller and buyer. The purchase of title insurance can mitigate the risk of prior claims to the special warranty deed.
