North Carolina Fiduciary Deed for use by Executors, Trustees, Trustors, Administrators and other Fiduciaries
What is this form?
The Fiduciary Deed is a legal document used by executors, trustees, trustors, administrators, and other fiduciaries to transfer property ownership under certain conditions. This deed allows the grantor to convey real estate to the grantee, typically in situations where the property is part of an estate or trust. Unlike a standard warranty deed, this form is specifically designed to reflect the authority of the fiduciary acting on behalf of another party, whether due to a will, trust, or legal obligation.
Key parts of this document
- Grantor and Grantee details: Names and addresses of the parties involved.
- Property description: A complete legal description of the real estate being conveyed.
- Consideration: The value or compensation for the property transfer.
- Fiduciary title: Clear indication of the fiduciary's legal capacity when executing the deed.
- Signature and notarization: Required signatures and certification from a notary public.
When to use this document
This Fiduciary Deed should be utilized when transferring ownership of property within the context of estate management or trust execution. Common scenarios include when an executor of a will is distributing assets, a trustee is managing property held in trust, or when a guardian is authorized to convey property on behalf of a ward.
Who can use this document
- Executors managing the estate of a deceased person.
- Trustees distributing assets from a trust.
- Guardians handling property for a minor or incapacitated individual.
- Administrators overseeing an estate without a will.
- Any fiduciaries acting under legal authority to transfer real estate.
How to complete this form
- Identify the parties: Clearly enter the names and addresses of the grantor (fiduciary) and grantee.
- Specify the property: Provide a complete legal description for the property being transferred.
- Enter consideration: Note the monetary or other value offered for the property transfer.
- Sign the deed: The grantor must sign the form in the presence of a notary public.
- Notarize the document: Have the notary complete the certification portion to validate the deed.
- File the deed: Record the completed and notarized Fiduciary Deed with the appropriate county office.
Does this form need to be notarized?
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.
Avoid these common issues
- Failing to include a complete legal description of the property.
- Not notarizing the deed or incorrectly filling out the notarization section.
- Leaving out the consideration amount or providing an unclear value.
- Using outdated forms or not adapting to the latest state requirements.
Why use this form online
- Convenience: Access and fill out the form from anywhere, without the need for in-person visits.
- Editability: Easily make necessary changes to the document before finalizing it.
- Reliability: Use a trusted resource that ensures compliance with North Carolina law for fiduciary deeds.
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FAQ
Three basic types of deeds commonly used are the grant deed, the quitclaim deed, and the warranty deed. A sample grant deed. the property he or she is transferring is implied from such language.
The words with fiduciary covenants means the seller promises to the buyer that he or she is duly appointed, qualified and acting in his or her fiduciary capacity, is duly authorized to make the sale and convey the property to buyer.
A fiduciary deed is for use by a fiduciary such as an executor or administrator of an estate or a trustee of a trust. In this type of deed there is a warranty, but only as a fiduciary. A fiduciary does not own the property, rather they essentially manage it for another.
The General Warranty Deed. A general warranty deed provides the highest level of protection for the buyer because it includes significant covenants or warranties conveyed by the grantor to the grantee. The Special Warranty Deed. The Bargain and Sale Deed. The Quitclaim Deed.
