This Warranty Deed from two Individuals to Corporation form is a Warranty Deed where the Grantors are two individuals and the Grantee is a corporation. Grantors convey and warrant the described property to Grantee less and except all oil, gas and minerals, on and under the property owned by Grantors, if any, which are reserved by Grantors.
Oregon Warranty Deed from two Individuals to Corporation
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Description
Definition and meaning
A Warranty Deed is a legal document that conveys ownership of real property from one party to another, typically providing guarantees regarding the title. In the case of an Oregon Warranty Deed from two Individuals to Corporation, two individuals (the grantors) transfer their property to a corporation (the grantee). This type of deed ensures that the grantors defend the title against any claims, offering security to the corporation receiving the property.
Who should use this form
This form is suitable for individuals looking to transfer property ownership to a corporation in Oregon. It is generally used by:
- Property owners who want to convey their property to a business entity.
- Individuals forming partnerships or corporations that require legal ownership of real estate.
- Real estate agents or attorneys assisting in property transfers.
How to complete the form
Completing the Oregon Warranty Deed form involves several detailed steps:
- Enter the names of the grantors (the individuals) and the grantee (the corporation).
- Provide the legal description of the property being transferred.
- State the consideration (amount paid) for the transfer.
- Sign the document in the presence of a notary public.
Ensure all parts of the form are filled out accurately to prevent delays or issues in the transfer process.
Key components of the form
Some important components of the Oregon Warranty Deed from two Individuals to Corporation include:
- Grantors and Grantee: The individuals transferring the property and the receiving corporation.
- Legal Description: A detailed description of the property, necessary for legal clarity.
- Consideration: The monetary value exchanged for the property.
- Notarization: The requirement for a notary public to witness signatures, validating the document.
Legal use and context
The Oregon Warranty Deed is legally binding and ensures the transfer of property title is secure. It is commonly used in real estate transactions where individuals wish to transfer property to a corporation. This deed protects the new owner from potential disputes and establishes legal ownership in a formalized manner.
What to expect during notarization or witnessing
During the notarization process, the following steps typically occur:
- The grantors will present valid identification to the notary public.
- All signatures on the Warranty Deed must be signed in the presence of the notary.
- The notary will complete the notarization by signing and affixing a seal to the document.
This ensures the document meets legal standards for authenticity and can be recorded with local government offices.
Common mistakes to avoid when using this form
When filling out the Oregon Warranty Deed, avoid the following errors:
- Incorrect legal description of the property, which may lead to disputes.
- Failure to include required signatures from all grantors.
- Not having the document properly notarized, which could invalidate the deed.
- Omitting the consideration amount, which is crucial for legal purposes.
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How to fill out Oregon Warranty Deed From Two Individuals To Corporation?
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FAQ
Retrieve your original deed. Get the appropriate deed form. Draft the deed. Sign the deed before a notary. Record the deed with the county recorder. Obtain the new original deed.
The Oregon special warranty deed is a legal document transferring property from an owner of an interest in property to another person. This is a warranty deed, but the warranty is limited to the time frame involving seller's ownership of the property.
Discuss the terms of the deed with the new owners. Hire a real estate attorney to prepare the deed. Review the deed. Sign the deed in front of a notary public, with witnesses present. File the deed on public record.
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.
A conveyance of land in Oregon, or of any estate or interest therein located in Oregon, can be created, transferred, or declared by a deed in writing and should be signed by the person of lawful age (or their agent) from whom the estate or interest is intended to pass.
A warranty deed conveys an interest in real property to the named grantee with full warranties of title. Warranty deeds are statutory in Oregon under ORS 93.850, and they convey real property in fee simple with the most assurance of title.Generally, real property is owned in either sole ownership or in co-ownership.
Bargain and sale deeds are statutory in Oregon under ORS 93.860. A bargain and sale deed conveys the grantor's "entire interest in the described property at the date of the deed which the deed purports to convey" but does not provide covenants of title (ORS 93.860(2, 3)).
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.
Generally, someone else cannot remove you from title without your consent and/or knowledge. You should speak to a local real estate attorney to see how to return your name to title and how it was removed in the first place.