Michigan Warranty Deed from Corporation to Two Individuals
This Warranty Deed from Corporation to Two Individuals is a legal document used when a corporation (the Grantor) transfers real property ownership to two individuals (the Grantees). This form guarantees that the Grantor warrants the property title, ensuring the Grantees have rightful ownership. Unlike other types of deeds, this specific warranty deed includes unique provisions regarding the right of survivorship for the Grantees and exclusions for certain resources beneath the property, such as oil and gas.
- Grantor information: Includes the corporation's name and address.
- Grantee details: Names and addresses of the two individuals receiving the property.
- Property description: A legal description of the property is essential and should be attached as Exhibit A.
- Transfer of rights: Specifies the right of survivorship between the Grantees.
- Reservation clause: Indicates any reserved rights by the Grantor, including oil, gas, and minerals.
- Acknowledgment: Requires notarization by an officer of the corporation.
This form should be used when a corporation intends to transfer ownership of property to two individuals. It is particularly useful in situations where the property will be held jointly, allowing the surviving Grantee to assume full ownership upon the other's passing. This deed is ideal for transferring assets as part of estate planning or personal transactions between parties.
This form is intended for:
- Corporations transferring property to individual owners.
- Individuals receiving property as joint tenants.
- Real estate professionals facilitating property transactions.
To complete this form, follow these steps:
- Identify the parties: Fill in the corporationâs name as Grantor and the two individuals as Grantees.
- Specify the property: Attach the legal description of the property as Exhibit A.
- Include addresses: Provide the addresses for both the Grantor and Grantees.
- Detail survivorship: Ensure the right of survivorship clause is included and correct.
- Gather signatures: Have the document signed in the presence of a notary public.
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To make this form legally binding, it must be notarized. Our online notarization service, powered by Notarize, lets you verify and sign documents remotely through an encrypted video session.
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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.
- Failing to include a legal description of the property.
- Not specifying the right of survivorship correctly.
- Neglecting to have the document notarized before submission.
- Leaving out addresses for any party involved.
- Convenience: This form can be easily downloaded and completed online.
- Editability: Users can tailor the document to fit specific needs before printing.
- Reliability: Forms drafted by licensed attorneys ensure compliance with legal norms.
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FAQ
The main difference between a warranty deed and a quitclaim deed in Michigan lies in the level of protection offered to the buyer. A Michigan Warranty Deed from Corporation to Two Individuals provides guarantees regarding the title's validity, while a quitclaim deed transfers whatever interest the seller has without any warranties. This means that warranty deeds offer greater security for buyers compared to quitclaim deeds.
To add your spouse to your property deed: Have your lawyer do a Michigan Quit Claim Deed for you and then record it with your County's Register of Deeds. If you croak before you get it recorded, your property goes into probate, instead of to your spouse.
Adding someone to your house deed requires the filing of a legal form known as a quitclaim deed. When executed and notarized, the quitclaim deed legally overrides the current deed to your home. By filing the quitclaim deed, you can add someone to the title of your home, in effect transferring a share of ownership.
A In order to make your partner a joint owner you will need to add his name at the Land Registry, for which there is a fee of £280 (assuming you transfer half the house to him). You won't, however, have to pay capital gains tax, as gifts between civil partners (and spouses) are tax free.
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.
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.
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.
Adding someone to your house deed requires the filing of a legal form known as a quitclaim deed. When executed and notarized, the quitclaim deed legally overrides the current deed to your home. By filing the quitclaim deed, you can add someone to the title of your home, in effect transferring a share of ownership.
If you've recently married and already own a home or other real estate, you may want to add your new spouse to the deed for your property so the two of you own it jointly. To add a spouse to a deed, all you have to do is literally fill out, sign and record a new deed in your county recorder's office.
In California, all property bought during the marriage with income that was earned during the marriage is deemed "community property." The law implies that both spouses own this property equally, regardless of which name is on the title deed.
