Washington Warranty Deed from Corporation to Two Individuals
About this form
The Warranty Deed from Corporation to Two Individuals is a legal document used to transfer ownership of real property from a corporation (the Grantor) to two individuals (the Grantees). This specific deed ensures that the Grantor conveys the property with certain warranties and exceptions, including the reservation of oil, gas, and minerals. It serves a distinct purpose compared to similar forms by specifying joint tenancy with rights of survivorship for the Grantees, ensuring clarity in ownership rights.
Key parts of this document
- Identification of Grantor (the corporation)
- Identification of Grantees (the two individuals)
- Legal description of the property being transferred
- Reservations regarding oil, gas, and minerals
- Warranties and covenants pertaining to the title
- Provisions regarding tax obligations between parties
- Execution by a Notary Public
Common use cases
This form should be used when a corporation wishes to transfer ownership of property to two individuals. It is particularly useful in situations where the corporation is selling assets or redistributing property ownership among its stakeholders or members. The specification of joint tenancy is crucial when intending for the property to automatically pass to the surviving Grantee upon the death of one party.
Who this form is for
- Corporations looking to transfer property ownership
- Individuals receiving property from a corporation
- Real estate attorneys facilitating the transaction
- Anyone involved in estate planning with joint tenancy considerations
How to complete this form
- Identify the parties involved by filling in the names of the Grantor (corporation) and the Grantees (individuals).
- Provide a detailed description of the property being transferred, including the tax parcel number.
- Specify any reservations regarding oil, gas, and minerals under the property.
- Indicate the proration of taxes between Grantor and Grantees for the tax year.
- Ensure all parties sign the document in the presence of a Notary Public.
Notarization requirements for this form
Notarization is required for this form to take effect. Our online notarization service, powered by Notarize, lets you verify and sign documents remotely through an encrypted video session, 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.
Common mistakes
- Failing to accurately describe the property and its legal boundaries.
- Omitting key details, such as tax parcel numbers.
- Not securing notarization, which may invalidate the deed.
- Forgetting to clarify tax responsibilities.
- Leaving out signatures of all required parties.
Quick recap
- The Warranty Deed allows a corporation to transfer property to two individuals.
- It includes specific provisions regarding ownership types and reservations.
- Notarization is essential for the form's validity.
- Proper completion prevents common legal errors.
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FAQ
A statutory warranty deed is different from a warranty deed because it is a shorter form made available through your state's statutes and it may not outright list the promise that the title is guaranteed to be clear. Instead, because it is a statutory form, this guarantee is implied and is still legally enforceable.
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.
A Washington special warranty deed form conveys Washington real estate from the current owner (grantor) to a new owner (grantee) with a warranty of title that is limited to the period that the grantor owned the property.It has no legislative origin and is not explicitly recognized in the Washington statutes.
Let's start with the definition of a deed: DEED: A written instrument by which one party, the Grantor, conveys the title of ownership in property to another party, the Grantee. A Warranty Deed contains promises, called covenants, that the Grantor makes to the Grantee.
What is a Washington Bargain and Sale Deed? A Washington bargain and sale deed form transfers Washington real estate from the current owner (grantor) to a new owner (grantee) with a warranty of title that is limited to the time period that the grantor owned the property.
A warranty deed is a deed in which the grantor warrants good, clear title. It is a deed which explicitly contains covenants concerning the quality of title it conveys. Yes, it is a conveyance ("transfer") of title.
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.
A general warranty deed covers the property's entire history.With a special warranty deed, the guarantee covers only the period when the seller held title to the property. Special warranty deeds do not protect against any mistakes in a free-and-clear title that may exist before the seller's ownership.
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
