Pennsylvania Warranty Deed from Corporation to Corporation
Understanding this form
The Warranty Deed from Corporation to Corporation is a legal document that transfers ownership of property from one corporation (the Grantor) to another corporation (the Grantee). This deed includes explicit warranties regarding the title of the property, ensuring the Grantee that the property is free of encumbrances, except for specified reservations like oil, gas, and minerals. It is distinct from other types of deeds, such as quitclaim deeds, as it guarantees a higher level of assurance about the property's title.
Key parts of this document
- Identification of the Grantor and Grantee corporations.
- Description of the property being transferred, including legal descriptions.
- Reservation clause for oil, gas, and minerals under the property.
- Covenant of warranty that assures the Grantee of clear title.
- Signatures of authorized representatives from the Grantor corporation.
- Date of execution of the deed.
Situations where this form applies
This form is ideal when one corporation is transferring property ownership to another corporation. Common scenarios include corporate mergers, asset acquisitions, or sale of property between corporations. It provides legal proof of the transfer and outlines any conditions or reservations regarding the property.
Who needs this form
This form is intended for:
- Corporations involved in property transactions.
- Corporate lawyers facilitating property transfers.
- Business executives responsible for managing corporate assets.
- Real estate professionals working with corporate clients.
Steps to complete this form
- Identify and enter the names of the granting and receiving corporations.
- Provide a detailed legal description of the property being transferred.
- Include any reservations for oil, gas, and minerals, if applicable.
- Have authorized representatives of the Grantor sign the document.
- Fill in the date of execution.
- Ensure all required fields are accurately completed before submission.
Notarization guidance
To make this form legally binding, it must be notarized. Our online notarization service, powered by Notarize, lets you verify and sign documents remotely through an encrypted video session.
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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.
Mistakes to watch out for
- Failing to include the full legal description of the property.
- Not securing the necessary signatures from corporate representatives.
- Omitting details regarding any reservations or encumbrances.
- Using outdated versions of the deed form.
Why complete this form online
- Easy access to customized legal documents prepared by licensed attorneys.
- Time-saving as it allows for quick completion and editing.
- Convenient digital download that can be printed or filled out on a computer.
- Regular updates to ensure compliance with changing laws.
Legal use & context
- This warranty deed provides a legal guarantee that the Grantor holds clear title to the property being conveyed.
- It is essential for ensuring the Grantee's rights to the property and any appurtenances.
- The form protects both parties and can be used as evidence in property disputes.
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FAQ
The State of Pennsylvania charges 1% of the sales price and the municipality and school district USUALLY charge 1% between them for a total of 2% (i.e. 2% X 100,000 = $2,000). By custom, the buyer and seller split the cost. 1% to buyer, 1% to seller; however payment is dictated by the sales contract.
To transfer property in Pennsylvania, you'll need to prepare and execute a deed and record it in the county where the property is located. If the transfer was in exchange for money, you'll have to pay transfer tax.
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.
A deed must be in writing, state the name of the current owner, include the legal description for the real estate being transferred and state the name of the new owner.The type of improvements on the real estate, such as a single-family home, does not affect the deed.
Fill in the deed form. Print it out. Have the grantor(s) and grantee(s) sign and get the signature(s) notarized. Fill out a Statement of Value form, if necessary. Get the Uniform Parcel Number (UPI) on the deed certified, if required by your county.
What is required for a valid deed in Pennsylvania? The actual, visible, hostile, notorious, exclusive and continuous possession of another's land under claim of title. You just studied 39 terms!
The basic requirements of a valid deed are (1) written instrument, (2) competent grantor, (3) identity of the grantee, (4) words of conveyance, (5) adequate description of the land, (6) consideration, (7) signature of grantor, (8) witnesses, and (9) delivery of the completed deed to the grantee.
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.