Maryland Warranty Deed from two Individuals to Corporation
What this document covers
This Warranty Deed from two Individuals to Corporation is a legal document used to transfer ownership of real property from two individuals (Grantors) to a corporation (Grantee). It ensures that the property is conveyed with a promise that the Grantors hold clear title to the property, free from encumbrances, except those specifically noted. This form differs from other deeds, such as quitclaim deeds, because it includes warranties that assure the Grantee of the Grantors' ownership and the absence of legal claims against the property.
Form components explained
- Description of the property being transferred
- Recitals regarding prior instrument references
- Reservation of oil, gas, and minerals
- Covenant of good title and freedom from encumbrances
- Execution by Grantors, including signatures and notary acknowledgment
When to use this form
This form should be used when two individuals wish to transfer their property to a corporation. Situations may include the sale of residential or commercial property, reorganization of business assets, or intra-family transfers of ownership where a corporation is involved. It is essential for ensuring that the title to the property is legally protected and that the entity receiving the title has assurance of its legitimacy.
Who can use this document
- Property owners who are individuals looking to transfer ownership to a corporation
- Business entities acquiring property from individuals
- Real estate professionals assisting clients in property transfers
- Legal representatives preparing property transactions
Instructions for completing this form
- Identify the parties involved, including the two Grantors and the Grantee corporation.
- Clearly describe the property being transferred, including any prior instrument references.
- Specify any reservations, such as oil, gas, and mineral rights.
- Ensure that all Grantors sign the deed and provide printed names.
- Have the document notarized to validate the signatures.
Does this document require notarization?
This form must be notarized to be legally valid. US Legal Forms provides secure online notarization powered by Notarize, allowing you to complete the process through a verified video call.
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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.
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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.
Common mistakes to avoid
- Failing to accurately describe the property, which can lead to confusion or disputes.
- Ignoring the need for notarization, which may affect the deed's validity.
- Not including all required signatures from both Grantors.
- Overlooking encumbrances or reservations that should be noted in the deed.
Why use this form online
- Convenient download and immediate access to the form.
- Editability allows users to tailor the document to their specific transfer needs.
- Reliability, as the form is drafted by licensed attorneys ensuring legal compliance.
Legal use & context
- This warranty deed establishes the transfer of title and is enforceable in a court of law.
- The form contains covenants that guarantee the grantors have the legal authority to convey the property.
- Reservations regarding minerals are critical to protect the grantorsâ interests and must be clearly stated.
- Failure to comply with state specifications can lead to challenges in the enforceability of the deed.
Quick recap
- The Warranty Deed from two Individuals to Corporation is essential for property transfers involving corporate entities.
- Complete the form accurately, including property descriptions and necessary reservations.
- Notarization is a requirement for legal validity in Maryland.
- Using online services enhances accessibility and accuracy in creating legal documents.
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FAQ
To sign over property ownership to another person, you'll use one of two deeds: a quitclaim deed or a warranty deed.
A general warranty deed covers the property's entire history.With a special warranty deed, the guarantee covers only the period when the seller held title to the property. Special warranty deeds do not protect against any mistakes in a free-and-clear title that may exist before the seller's ownership.
A statutory warranty deed is different from a warranty deed because it is a shorter form made available through your state's statutes and it may not outright list the promise that the title is guaranteed to be clear. Instead, because it is a statutory form, this guarantee is implied and is still legally enforceable.
Let's start with the definition of a deed: DEED: A written instrument by which one party, the Grantor, conveys the title of ownership in property to another party, the Grantee. A Warranty Deed contains promises, called covenants, that the Grantor makes to the Grantee.
Typically, the only cost is between $25 and $55 to record the new deed and obtain a certificate from the city/county to show that all taxes are current. The deed should be notarized and must be prepared by one of the parties or under the supervision of a Maryland attorney.
To change the names on a real estate deed, you will need to file a new deed with the Division of Land Records in the Circuit Court for the county where the property is located. The clerk will record the new deed.
A consenting individual may be removed from a deed by filing a quitclaim deed. Under Maryland law each county has a separate procedure and requirements for filing a quitclaim deed.
Typically, the lender will provide you with a copy of the deed of trust after the closing. The original warranty deeds are often mailed to the grantee after they are recorded. These are your original copies and should be kept in a safe place, such as a fireproof lockbox or a safe deposit box at a financial institution.
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.
