An Ohio Warranty Deed for Surface and Mineral Interests with Multiple Granters is a legal document used in Ohio to transfer ownership of both surface and mineral interests from the granters to the grantee. This type of deed provides a warranty that the granters have clear title to the property and have the authority to transfer the surface and mineral rights to the grantee. The Ohio Warranty Deed for Surface and Mineral Interests with Multiple Granters is commonly used in situations where there are multiple owners or granters who collectively own and wish to transfer both the surface and mineral rights of a property. This may occur in cases where multiple family members or business partners collectively own the property and want to convey their interests to a single individual or entity. There are several types of Ohio Warranty Deed for Surface and Mineral Interests with Multiple Granters, each suited for specific situations. Some common variations include: 1. Joint Tenancy: This type of deed is used when the granters hold equal shares in the property and want to transfer those shares to the grantee. The grantee becomes a tenant in common with the remaining granters, and each party holds an undivided interest in the property. 2. Tenancy in Common: This type of deed is used when the granters hold varying shares or percentages of the property and want to transfer those interests to the grantee. The grantee becomes a tenant in common with the remaining granters but may hold different percentages of ownership. 3. Community Property: This type of deed is used when the granters are married and live in a community property state. It allows the granters to transfer their community property interests in the surface and mineral rights to the grantee. It is important to consult with a qualified attorney or real estate professional when executing an Ohio Warranty Deed for Surface and Mineral Interests with Multiple Granters to ensure compliance with Ohio laws and to address any specific considerations or requirements related to the property or the granters' interests.
Ohio Warranty Deed for Surface and Mineral Interests with Multiple Grantors
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FAQ
The guarantees of a general warranty deed are known as covenants. Traditionally, there are six covenants of title which can be divided into present covenants and future covenants.
Hear this out loud PauseWhen properly executed, delivered and accepted, a deed transfers title to real property from one person (the grantor) to another person (the grantee). Transfer may be voluntary, or involuntary by act of law, such as a foreclosure sale.
The grantor offers six specific warranties to the grantee that are not offered by any other deed. The seller offers the greatest level of buyer protection with a general warranty deed through six specific warranties. The seller promises that he/she owns the property and has the legal right to sell it.
Hear this out loud PauseQuitclaim Deed This deed conveys to the grantee only that which the grantor has in the property at the time of the conveyance, which could be nothing at all. There are no covenants or warranties by the grantor and this deed offers the lowest amount of protection to the grantee.
Hear this out loud PauseWhich type of deed merely implies but does NOT specifically warrant that the grantor holds good title to the property? Bargain and sale. By giving a bargain and sale deed, the grantor implies ownership and possession of the property, but there are no express warranties against encumbrances.
A quitclaim deed conveys whatever interest the grantor has in the property, as distinguished from a grant of the fee or other estate with warranty of title. The grantee takes the title "as is." A quitclaim deed is sometimes called a release deed.
The grantor is generally bound by several covenants, including: The covenant of seizin?the grantor warrants that they own the property and has a legal right to convey it. The covenant against encumbrances?the grantor warrants that the property is free of liens or encumbrances.
Hear this out loud PauseQuitclaim definition: A quitclaim deed is a legal document that lets an owner (grantor) transfer their ownership interest in a piece of property to a recipient (grantee), but offers no guarantee of ownership.