This form is a Special Warranty Deed where the grantor and the grantee are individuals. Grantor conveys and specially warrants the described property to the grantee. The grantor only warrants and will defend the property only as to claims of persons claiming by, through or under grantor, but not otherwise. This deed complies with all state statutory laws.
Charlotte North Carolina Special Warranty Deed - Individual to Individual
Category:
State:
North Carolina
City:
Charlotte
Control #:
NC-021-78
Format:
Word;
Rich Text
Instant download
Description
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FAQ
In most cases, the fees will amount to between £100 and £500 +VAT. Your conveyancer may or may not include cover for additional charges within their service.
A deed, of course, is a legal document representing property ownership. But you might be wondering if an owner can transfer a deed to another person without a real estate lawyer. The answer is yes. Parties to a transaction are always free to prepare their own deeds.
A general warranty deed is used to transfer real property from one person to another. This type of deed offers the greatest protection for the buyer and has specific requirements for what must be included in the document.
12. Who benefits the most from recording a warranty deed? D. Explanation: The grantee is the one who has acquired an interest in the land, and she is the one who benefits the most from recording the deed to provide constructive (legal) notice of that interest.
A North Carolina special warranty deed is used to convey property from a grantor (seller) to a grantee (buyer) with a limited guarantee that there are no liens or encumbrances on the title during the grantor's ownership. Although, the deed does not guarantee clean title from past owners.
North Carolina's transfer tax rates are straightforward ? expect to pay $1 for every $500 of the sale price. For the state's average home value of $320,291, the transfer tax would amount to $640.58.
General warranty deeds give the grantee the most protection, special warranty deeds give the grantee more limited protection, and a quitclaim deed gives the grantee the least protection under the law.
Understand that adding someone to your deed changes you from a ?sole owner? to a ?joint owner? and should never be done without legal advise and direction. NOTE: When gifting a share of real estate by way of adding a name to the deed, you may be subjecting the added person to capital gains taxes.
To transfer ownership of land in North Carolina, the owner must execute and file a new deed with the register of deeds for the North Carolina county where the property is located.
How to transfer property ownership Identify the donee or recipient. Discuss terms and conditions with that person. Complete a change of ownership form. Change the title on the deed. Hire a real estate attorney to prepare the deed. Notarize and file the deed.