This Warranty Deed from Corporation to Corporation form is a Warranty Deed where the Grantor is a corporation and the Grantee is a corporation. Grantor conveys and warrants the described property to Grantee less and except all oil, gas and minerals, on and under the property owned by Grantor, if any, which are reserved by Grantor. This deed complies with all state statutory laws.
North Dakota Warranty Deed from Corporation to Corporation
Category:
State:
North Dakota
Control #:
ND-013-78
Format:
Word;
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FAQ
A warranty deed is a higher level of protection produced by the seller upon the real estate closing. It includes a full legal description of the property, and confirms the title is clear and free from all liens, encumbrances, or title defects. Most property sales make use of a 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.
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
A special warranty deed is a deed to real estate where the seller of the propertyknown as the grantorwarrants only against anything that occurred during their physical ownership. In other words, the grantor doesn't guarantee against any defects in clear title that existed before they took possession of the property.
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 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.
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.
A warranty deed, also known as a general warranty deed, is a legal real estate document between the seller (grantor) and the buyer (grantee). The deed protects the buyer by pledging that the seller holds clear title to the property and there are no encumbrances, outstanding liens, or mortgages against it.
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.