A Charlotte North Carolina General Warranty Deed from two Individuals to a Corporation is a legal document that transfers ownership of a property from two individuals or sellers to a corporation or buyer, with the guarantee that the property is free from any encumbrances or claims. The General Warranty Deed is a commonly used type of deed in real estate transactions that provides the highest level of protection to the buyer or corporation. It guarantees that the sellers have the legal right to sell the property and that they will defend the buyer or corporation against any claims or disputes that may arise in the future. The deed contains several key elements and information. Firstly, it includes the names of the two individuals who are selling the property, also known as the granters, and the name of the corporation that is purchasing the property, also known as the grantee. The deed also states the legal description of the property, which includes information such as the lot of number, subdivision name, and any additional details necessary to precisely identify the property. Additionally, the General Warranty Deed outlines the consideration, or the agreed-upon purchase price, for the property. It may also specify any conditions or contingencies that need to be satisfied before the deed is considered valid, such as inspections or financing requirements. Furthermore, the deed includes warranties or promises made by the sellers to the corporation. These warranties typically include the following: 1. Covenant of Seizing: This warranty ensures that the sellers have the legal right and authority to transfer ownership of the property. 2. Covenant of Right to Convey: This warranty guarantees that the sellers have the legal power to sell the property. 3. Covenant Against Encumbrances: This warranty assures that the property is free and clear from any liens, claims, or encumbrances, except those explicitly mentioned in the deed. 4. Covenant of Quiet Enjoyment: This warranty promises that the buyer or corporation will have peaceful and uninterrupted possession of the property without any interference. 5. Covenant of Warranty: This warranty pledges that the sellers will defend the buyer or corporation against any legal claims or disputes that may arise concerning the property. It's important to note that while the General Warranty Deed provides extensive protection to the buyer or corporation, the specifics of the deed may vary depending on the circumstances of the transaction or the preferences of the parties involved. There are no specific types of General Warranty Deeds in Charlotte, North Carolina that are exclusively designated for transfers from two individuals to a corporation. However, there may be variations in how the deed is prepared or titled, such as "General Warranty Deed from John Smith and Jane Doe to XYZ Corporation."
Charlotte North Carolina General Warranty Deed from two Individuals to Corporation
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FAQ
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.
Can I prepare my own deed and have it recorded? A. North Carolina law allows you to prepare a Deed of Conveyance for any real property to which you have legal title. However, the conveyance of real property is a legal matter that should be given under and with the advice of legal counsel.
A General Warranty Deed is a deed in which the party conveying the property (the ?Grantor?) warrants and guarantees to the party receiving the conveyance (the ?Grantee?) that the title to the property he is conveying is good and unencumbered as against all persons.
A deed is a legal instrument that evidences legal ownership of a parcel of real property, which includes land and any buildings on the land. 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.
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.
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.
A general warranty deed must include the following to be valid: The name and address of the seller (called the grantor) The name and address of the buyer (called the grantee) A legal description of the property (found on the previous deed) A statement that the grantor is transferring the property to the grantee.
What Are the Steps to Transfer a Deed Yourself? 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.
Non-Warranty Deeds In a Non-Warranty or Quitclaim Deed, the seller merely is giving the buyer whatever rights, if any, that the seller has in the property and the seller makes no warranties of any nature about the seller's rights in the property.