Texas Warranty Deed from Corporation to Two Individuals
Overview of this form
The Warranty Deed from Corporation to Two Individuals is a legal document that facilitates the transfer of property from a corporation to two individual buyers. This deed serves as proof that the corporation (the grantor) has conveyed and guaranteed the property to the individuals (the grantees), while specifying that any oil, gas, and minerals beneath the land are not included in the transfer. Unlike other deeds, this document is particularly crafted for instances involving a corporate entity and joint tenants with rights of survivorship.
Form components explained
- Identification of Grantor and Grantees: Details of the corporation transferring property and the two individuals receiving it.
- Property Description: Specifies the property being conveyed, including any relevant legal description.
- Covenant of Title: Assurances from the grantor regarding the legal status of the property.
- Reservation Clause: Exclusions for oil, gas, and minerals under the property.
- Joint Tenancy: Clarification that the grantees hold the property as joint tenants with rights of survivorship.
- Notarization Section: Required acknowledgments for legal validation.
Situations where this form applies
This form is used when a corporation wishes to transfer ownership of real estate to two individuals. Common scenarios include a corporate property sale, estate planning where a corporation distributes property to heirs, or joint investments where two individuals acquire property from a corporate entity. It ensures that both parties understand their rights to the property and its limitations.
Who this form is for
- Corporations that are divesting real estate assets.
- Individuals who are purchasing property from a corporate owner.
- Estate executors managing property transfers to heirs.
- Real estate professionals facilitating corporate transactions.
How to prepare this document
- Identify the parties: Fill in the name of the corporation as the grantor and the two individuals as grantees.
- Specify the property: Provide a detailed description of the property being transferred.
- Enter any exclusions: Clearly note any reserved rights regarding oil, gas, and minerals.
- Complete the notarization section: Have the appropriate corporate officer sign and notarize the deed.
- Record the deed: Submit the completed document to the local recording office to ensure the transfer is officially recognized.
Is notarization required?
This document requires notarization to meet legal standards. US Legal Forms provides secure online notarization powered by Notarize, allowing you to complete the process through a verified video call, available 24/7.
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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 can lead to disputes later.
- Not including the reservation clause for oil, gas, and minerals when applicable.
- Omitting necessary signatures or notarization requirements.
- Not clarifying the type of tenancy, which may cause confusion about property rights.
Benefits of completing this form online
- Convenience of downloading the form instantly from anywhere.
- Editability allows for customization to fit specific needs.
- Access to forms drafted by licensed attorneys ensures legal validity.
- Protected storage of completed forms for future reference.
Quick recap
- This warranty deed is crucial for ensuring a lawful property transfer from a corporation to individuals.
- You must accurately fill out all identifying information, property details, and signatures.
- Notarization is required to affirm the validity of the deed.
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FAQ
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.
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.
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
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.
Find the most recent deed to the property. It is best to begin with a copy of the most recent deed to the property (the deed that transferred the property to the current grantor). Create a new deed. Sign and notarize the deed. File the documents in the county land records.
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.
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.
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.