Michigan Warranty Deed from Corporation to Individual
About this form
The Warranty Deed from Corporation to Individual is a legal document used to transfer ownership of real property from a corporation (the Grantor) to an individual (the Grantee). This deed ensures that the property is conveyed free from encumbrances, with specific reservations like oil, gas, and mineral rights. It differs from other forms of warranty deeds by specifying the parties involved, providing legal protection that the Grantor holds the title and has the authority to transfer the property.
Main sections of this form
- Grantor and Grantee information: Includes names and addresses of both parties.
- Property description: Detailed legal description of the property being transferred.
- Reservation clause: Specifies any reserved rights, such as oil and gas interests.
- Covenants: Assurances from the Grantor regarding title and encumbrances.
- Notary section: For official acknowledgment of the signing parties.
When to use this document
This form is needed when a corporation wishes to transfer property ownership to an individual. It is commonly used in real estate transactions where corporate assets are sold to individual buyers, ensuring a clear title and legally binding protection for the Grantee.
Who this form is for
- Corporations seeking to sell or transfer real estate to individuals.
- Individuals purchasing property from a corporate entity.
- Real estate attorneys assisting with property transactions involving corporate ownership.
Steps to complete this form
- Identify the Grantor: Enter the corporation's legal name and state of incorporation.
- Enter the Grantee's details: Fill in the individual's name and marital status.
- Describe the property: Provide a complete legal description of the property being conveyed.
- Include any exceptions: Clearly note any reserved rights such as oil, gas, and minerals.
- Sign in the presence of a notary: Ensure all parties sign the form and have it notarized.
Does this document require notarization?
This document requires notarization to meet legal standards. US Legal Forms provides secure online notarization powered by Notarize, allowing you to complete the process through a verified video call, available 24/7.
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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 provide a complete legal description of the property.
- Not including the reservations correctly, leading to potential future disputes.
- Omitting notarization, which may invalidate the deed.
- Leaving fields blank or incorrectly filled out, which can cause legal issues.
Benefits of using this form online
- Convenience: Download the form instantly and complete it at your convenience.
- Editability: Customize the document to fit your specific needs easily.
- Reliability: Use forms drafted by licensed attorneys to ensure legal accuracy.
Quick recap
- The Warranty Deed from Corporation to Individual is essential for transferring property ownership legally and clearly.
- Ensure accurate and complete information to avoid any future legal issues.
- Notarization is a critical step for the deed's validity.
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FAQ
Laws § 565.151. Recording (A§ 565.201) Must be filed with the Registry of Deeds. Signing (A§ 565.8) Must be signed with the Grantor(s) in front of a Notary Public or Officer of the court. Step 1 Insert the name of the grantor in the first line. Step 2 Next, fill in the grantor's address.
The mortgage company usually prepares this deed as part of the loan package and delivers it to the title company for you to sign at closing. The title company is commonly the trustee to the deed and holds legal title to the property until the loan gets fully repaid.
A warranty deed, also known as a general warranty deed, is a legal real estate document between the seller (grantor) and the buyer (grantee). The deed protects the buyer by pledging that the seller holds clear title to the property and there are no encumbrances, outstanding liens, or mortgages against it.
The original deed is returned to the owner of the property from the office of the recorder after proper entry. The office of the Recorder of Deeds maintains a set of indexes about each deed recorded, for an easy search. Almost all states have a grantor-grantee index including a reference to all documents recorded.
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.
After your Warranty Deed has been recorded at the County Clerk's Office, it can be sent to the grantee. However, any person or corporation can be designated as the recipient of the recorded Warranty Deed.
It's important to note that a warranty deed does not actually prove the grantor has ownership (a title search is the best way to prove that), but it is a promise by the grantor that they are transferring ownership and if it turns out they don't actually own the property, the grantor will be responsible for compensating
Find the most recent deed to the property. Create the new deed. Sign and notarize the deed. File the deed in the county land records.
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.
