This form is a Warranty Deed where the Grantor is an individual and the Grantees are two individuals or husband and wife. Grantor conveys and warrants the described property to the Grantees. The Grantees take the property as tenants in common, joint tenants with the right of survivorship, or tenants by the entirety. This deed complies with all state statutory laws.
Virginia Warranty Deed from an Individual to Two Individuals or Husband and Wife
Category:
State:
Virginia
Control #:
VA-030-78
Format:
Word;
Rich Text
Instant download
Description
Definition and meaning
A Virginia Warranty Deed from an Individual to Two Individuals or Husband and Wife is a legal document that facilitates the transfer of real property ownership. This form is specifically used when one individual, referred to as the Grantor, transfers their interest in a property to two individuals, who may be named or specified as a couple. The Warranty Deed ensures that the Grantor is affirming their rightful ownership of the property and warrants that it is free from encumbrances or claims from others, providing protection to the Grantees.
Key components of the form
The Virginia Warranty Deed consists of several essential components that outline the terms of the property transfer:
- Grantor and Grantee information: The names and current addresses of both the Grantor and Grantees must be clearly stated.
- Property description: A legal description of the property being transferred, including its location and any accompanying improvements.
- Consideration: The amount of money or other valuable consideration paid for the property, often stated as ten dollars.
- Covenants from the Grantor: An assurance that the Grantor holds clear title to the property and will defend that title against any future claims.
- Notarization section: An area for a Notary Public to validate the identities of those signing the document.
Who should use this form
This form is suitable for individuals who wish to transfer their property ownership to two other individuals, especially in cases where the individuals are partners or spouses. It is ideal for personal situations involving families, friends, or couples looking to ensure shared ownership rights in real estate. This Warranty Deed provides a legally binding way to establish ownership without the complications that could arise from informal agreements.
Legal use and context
The Virginia Warranty Deed is recognized in the state of Virginia as a primary legal instrument for property transactions. It is essential when the Grantor wants to provide the Grantees with full ownership rights, ensuring that any future claims against the property are managed. Typically, this form is used in real estate transactions involving family members or partners and is critical for maintaining clear title and ownership records with the local government.
What to expect during notarization or witnessing
Notarization is an important step in finalizing a Virginia Warranty Deed. The Grantor must sign the document in the presence of a Notary Public, who verifies their identity and ensures they are signing voluntarily. The Notary will then complete their section of the deed, including their signature and seal, which confirms the validity of the document. This notarization process helps to prevent fraud and adds an additional layer of protection for the parties involved.
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FAQ
All deeds must be prepared by the owner of the property or by an attorney licensed to practice in Virginia. The requirements are listed below in the code section. Click here to read about e-Recording. § 17.1-223.
If you live in a common-law state, you can keep your spouse's name off the title the document that says who owns the property.You can put your spouse on the title without putting them on the mortgage; this would mean that they share ownership of the home but aren't legally responsible for making mortgage payments.
A warranty deed is a document often used in real estate that provides the greatest amount of protection to the purchaser of the property. The deed pledges or warrants that the owner owns the property free and clear of any outstanding liens, mortgages, or other encumbrances.
When it comes to reasons why you shouldn't add your new spouse to the Deed, the answer is simple divorce and equitable distribution. If you choose not to put your spouse on the Deed and the two of you divorce, the entire value of the home is not subject to equitable distribution.
Locate the most recent deed to the property. Create the new deed. Sign and notarize the new deed. Record the deed in the land records of the clerk's office of the circuit court in the jurisdiction where the property is located.
You will need to have the quitclaim deed notarized with the signatures of you and your spouse. Once this is done, the quitclaim deed replaces your former deed and the property officially is in both of your names. You must record the deed at your county office.
The Virginia general warranty deed is a form that warrants property conveyed from a Seller (the Grantor) to a Buyer (the Grantee).Afterwards, the deed may be filed with the Circuit Court in the jurisdiction of where the property is located.
To add a co-owner, the bank would have to create a new home loan agreement, which must be registered after paying the due stamp duty and registration charges. The bank would also insist on making the co-owner a co-borrower in the home loan applicable.
How do I add someone or remove someone from my deed? To make changes to ownership of property, a new deed will need to be prepared and recorded in the Clerk's Office where the property is located. The Commonwealth of Virginia does not provide any forms for deed transfers.