Nevada Grant, Bargain, Sale Deed - Two Individuals to Corporation
About this form
The Grant, Bargain, Sale Deed - Two Individuals to Corporation is a legal document used to transfer ownership of property from two individuals (the Grantors) to a corporation (the Grantee). This form serves as a Warranty Deed, ensuring that Grantors convey and warrant the described property to the Grantee, with specific exclusions regarding oil, gas, and minerals. It is crucial for those transferring property to a corporate entity and differs from other deeds by its specific provisions regarding reservations and the nature of the parties involved.
What’s included in this form
- Identification of the Grantors (two individuals) and Grantee (corporation).
- Description of the property being conveyed.
- Reservations made by Grantors regarding oil, gas, and minerals.
- Covenants made by Grantors ensuring they own the property free from encumbrances.
- Signature lines for Grantors to formalize the transfer.
When this form is needed
This form is useful when two individuals wish to transfer property ownership to a corporation. It is commonly used in real estate transactions, especially when individuals are involved in setting up a business or partnership under a corporate structure. Situations such as transferring a family property to a newly formed corporation or selling personal property to a business entity would necessitate this form.
Who this form is for
- Individuals who are part of a business partnership and need to transfer real estate to their corporation.
- Owners of property who form a corporation and want to formally convey ownership to that corporation.
- Real estate professionals assisting clients in transferring property to corporate entities.
How to complete this form
- Identify the Grantors by providing their full names and relevant details.
- Specify the Grantee by entering the official name of the corporation.
- Clearly describe the property being transferred, including any legal descriptions if necessary.
- Include the reservation clause regarding oil, gas, and minerals as applicable.
- Have both Grantors sign and date the form to finalize the transfer.
Is notarization required?
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.
Common mistakes to avoid
- Failing to specify the proper legal description of the property.
- Not including reservations for oil, gas, and minerals when required.
- Overlooking the need for all Grantors to sign the document.
- Using improper names or incorrect details for the Grantee (corporation).
Why use this form online
- Convenient access and instant download from US Legal Forms.
- Editable format allows users to tailor the document to their specific needs.
- Reliability of professionally drafted forms by licensed attorneys.
- Time-saving as the form can be completed and executed at the user's convenience.
Quick recap
- The Grant, Bargain, Sale Deed is essential for transferring property from individuals to a corporation.
- It includes warranties and declarations regarding the property being transferred.
- Ensure all details are accurate and the document is signed by all Grantors.
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FAQ
Bargain and sale deeds are most often used when property is transferred after a foreclosure, tax sale, or the settlement of a deceased person's estate. They may also be used in the same situations as a quitclaim deed, although they give the grantee a little more protection.
Bargain and sale deeds, as the term suggests, is used in a sale. Unlike a quitclaim, the bargain and sale deed indicates that the grantor has the title and can convey it to a buyer.The bargain and sale deed indicates that the grantor has title; but property might come with encumbrances and defects.
A bargain and sale deed doesn't warrant against any encumbrances. It simply implies that the grantor holds title to the property.A bargain and sale deed is much like a quitclaim deed in this respect. It conveys property, but it makes no guarantees that no one else has a stake in that property.
Buying property with this type of deed is not necessarily a bad idea, but it is advisable to take some precautions. If possible, a title search should be conducted to look for any clouds on the title and to see how difficult it would be to release them.
