Tennessee Warranty Deed from Corporation to Two Individuals
About this form
This Warranty Deed from Corporation to Two Individuals is a legal document that facilitates the transfer of property from a corporation (the Grantor) to two individuals (the Grantees). Unlike other types of deeds, this form explicitly reserves all oil, gas, and minerals beneath the property, thereby protecting the Grantor's rights to those resources. This deed is crucial for clarifying ownership and ensuring that the title is conveyed safely and legally.
Form components explained
- Identification of Grantor (Corporation) and Grantees (Two Individuals).
- Description of the property being transferred.
- Reservation of oil, gas, and minerals under the property.
- Guarantee of clear title and rights to convey property by the Grantor.
- Provision for joint tenancy and rights of survivorship for the Grantees.
- Notary acknowledgment section for legal validation.
When this form is needed
This form should be used when a corporation is transferring ownership of real estate to two individuals. It is commonly needed in transactions such as inheritance, property sales, or succession planning within businesses. If the corporation wishes to convey property while retaining subsurface rights, this specific warranty deed is the appropriate choice.
Intended users of this form
- Corporations looking to transfer property to individual owners.
- Individuals who are receiving real estate as part of a partnership or inheritance.
- Real estate professionals facilitating property transfers for corporate clients.
- Attorneys or legal representatives handling property transactions involving corporations.
Completing this form step by step
- Identify the parties involved: the corporation and the two individuals.
- Provide a detailed description of the property being transferred.
- Indicate the reservation of all oil, gas, and minerals owned by the corporation.
- Specify the rights of survivorship for the Grantees.
- Have the designated corporate officer sign the deed and affix the corporate seal.
- Complete the notary acknowledgment section and have it notarized to validate the deed.
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.
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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.
- Omitting the reservation clause for subsurface rights.
- Not having the deed notarized, making it legally ineffective.
- Inaccurate signatures or titles of corporate officers.
Why use this form online
- Easy access to a professionally drafted document tailored to your needs.
- Convenience of downloading and completing the form at your own pace.
- Editable template that allows for customization based on specific transaction details.
- Reliability of using a form compliant with state laws, reducing legal risks.
Legal use & context
- This form is legally binding once completed and notarized, providing clear evidence of property transfer.
- It protects both the Grantor and Grantees by outlining rights and obligations explicitly.
- This deed helps prevent future disputes over property ownership or subsurface rights.
What to keep in mind
- The Warranty Deed from Corporation to Two Individuals is essential for transferring corporate property.
- This form includes crucial components such as property description, rights reservation, and survivorship terms.
- Ensure notarization for the deed to maintain its legal validity.
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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.
To add a co-owner, the bank would have to create a new home loan agreement, which must be registered after paying the due stamp duty and registration charges. The bank would also insist on making the co-owner a co-borrower in the home loan applicable.
Contrary to normal expectations, the Deed DOES NOT have to be recorded to be effective or to show delivery, and because of that, the Deed DOES NOT have to be signed in front of a Notary Public. However, if you plan to record it, then it does have to be notarized as that is a County Recorder requirement.
It is possible to be named on the title deed of a home without being on the mortgage. However, doing so assumes risks of ownership because the title is not free and clear of liens and possible other encumbrances. Free and clear means that no one else has rights to the title above the owner.
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.
Yes you can. This is called a transfer of equity but you will need the permission of your lender. If you are not married or in a civil partnership you may wish to consider creating a deed of trust and a living together agreement which we can explain to you.
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.
In order to convey any real property or an interest in property in Tennessee, the deed must be in writing, acknowledged by the grantor, and registered in the county where the property is located. The Annotated Code of Tennessee allows for the transfer of real property through the usage of a variety of deeds.
