West Virginia Warranty Deed from Corporation to Two Individuals
Understanding this form
The Warranty Deed from Corporation to Two Individuals is a legal document used to transfer property ownership from a corporation (the Grantor) to two individuals (the Grantees). This type of warranty deed provides assurance that the corporation holds clear title to the property and has the right to convey the property, while also reserving rights to oil, gas, and minerals beneath the land, if applicable. It is a specific conveyance that differs from other types of deeds, such as quitclaim deeds, which do not guarantee clear title.
Key parts of this document
- Identification of the Grantor (corporation) and Grantees (two individuals).
- A description of the property being transferred, including improvements.
- Clauses stating the Grantorâs warranty of title and assurance of a clear title.
- Declaration of consideration (value exchanged for the property).
- Provisions regarding the survivorship rights of the Grantees.
- Notary acknowledgment for the execution of the deed.
Situations where this form applies
This warranty deed should be used when a corporation is transferring real estate to two individuals, whether for personal use, investment, or inheritance purposes. It is particularly relevant when the property involved has significant value and the Grantor wishes to ensure the Grantees receive full legal rights to the property including any improvements made. Additionally, this deed is suitable in situations where the parties desire joint tenancy with rights of survivorship, ensuring that if one Grantee passes away, the other automatically inherits the entire property.
Who can use this document
- Corporations seeking to transfer property to individual owners.
- Individuals receiving property from a corporation and wanting to establish joint ownership.
- Real estate professionals involved in the transfer of property from a corporation.
- Lawyers assisting clients with property transactions.
How to prepare this document
- Identify the parties: fill in the names of the corporation as Grantor and the two individuals as Grantees.
- Specify the property: provide a detailed description of the property, potentially as an attachment.
- Complete the declaration of consideration: state the total amount exchanged for the property.
- Sign the document: ensure that the corporation representative and Grantees sign the deed as required.
- Notarize the deed: a notary public must acknowledge the signatures for the deed to be valid.
Does this document require notarization?
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.
Get your form ready online
Our built-in tools help you complete, sign, share, and store your documents in one place.
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.
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 to avoid
- Failing to accurately describe the property being transferred.
- Not including all required parties or making spelling errors in names.
- Neglecting to have the document notarized, if required by state law.
- Forgetting to complete the declaration of consideration correctly.
Advantages of online completion
- Immediate access to a template drafted by licensed attorneys, ensuring legal compliance.
- Convenient downloadable format allows for easy editing and customization.
- Time-saving: complete and file your legal documents without unnecessary delays.
- Cost-effective solution compared to hiring a lawyer for simple transactions.
Looking for another form?
Form popularity
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.
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.
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 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.
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.
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.
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.
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.
Corporate warranty deeds offer the seller's guarantee to the buyer in regards to the validity of the chain of title. Generally, special warranty deeds only protect against problems occurring since the seller purchased the property.
