New York Quitclaim Deed from Corporation to Two Individuals
What is this form?
The Quitclaim Deed from Corporation to Two Individuals is a legal document that allows a corporation to transfer its interest in a property to two individual grantees. This type of deed conveys ownership without guaranteeing a clear title, meaning that the grantor (the corporation) is not liable for any claims to the property. This form differs from warranty deeds, which provide more assurances regarding the title.
What’s included in this form
- Legal description of the property being transferred.
- Provision that reserves oil, gas, and mineral rights for the grantor.
- Statement regarding existing easements and rights-of-way affecting the property.
- Signatures of authorized corporate representatives and requirements for notarization.
- Notary acknowledgment to validate the document.
Common use cases
This form is used when a corporation wants to transfer ownership of real estate to two individuals, such as in cases of family property division, partnership dissolutions, or estate planning. It is particularly useful when the corporation seeks to relinquish its claim to the property without providing any title guarantees.
Who needs this form
This form is intended for:
- Corporations that own real property they wish to transfer.
- Individuals who are receiving property as part of a legal transfer from a corporation.
- Real estate professionals assisting clients with corporate property transfers.
Instructions for completing this form
- Identify the parties involved: clearly state the corporation as the grantor and the two individuals as grantees.
- Provide a detailed legal description of the property to be transferred.
- Specify any reserved rights for the corporation, such as oil, gas, and mineral rights.
- Ensure the form is signed by an authorized representative of the corporation.
- Obtain notarization to validate the document, if required by state law.
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.
Get your form ready online
Our built-in tools help you complete, sign, share, and store your documents in one place.
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.
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 include a complete legal description of the property.
- Not specifying reserved mineral rights, if applicable.
- Not having the deed notarized, which may invalidate the transfer.
- Omitting the signatures of both the corporation's authorized representative and the notary.
Why use this form online
- Convenience of downloading and filling out the form from anywhere.
- Editability allows you to customize the document easily before printing.
- Access to a reliable and legally compliant form drafted by licensed attorneys.
Looking for another form?
Form popularity
FAQ
Fees to File a Quitclaim Deed in New York As of 2018, the basic fee for filing a quitclaim deed of residential or farm property is $125, while the fee for all other property is $250. These fees are for the RP-5217 form.
Fill in the deed form. Print it out. Have the grantor(s) sign and get the signature(s) notarized. Complete a transfer tax form, Form TP-584. Complete and print out Form RP-5217 (or, if you are in New York City, Form RP-5217NYC).
If the quitclaim deed requires the signature of all co-owners, the deed is invalid unless all co-owners have signed it and the deed is then delivered to the grantee.If one individual owns real estate and desires to add a co-owner such as a spouse, a quitclaim deed might be used.
The drawback, quite simply, is that quitclaim deeds offer the grantee/recipient no protection or guarantees whatsoever about the property or their ownership of it. Maybe the grantor did not own the property at all, or maybe they only had partial 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.A quitclaim deed, for example, is far simpler than a warranty deed.
Fill out the quit claim deed form, which can be obtained online, or write your own using the form as a guide. The person giving up the interest in the property is the grantor, and the person receiving the interest is the grantee.
It's usually a very straightforward transaction, but it's possible for a quitclaim deed to be challenged. If a quitclaim deed is challenged in court, the issue becomes whether the property was legally transferred and if the grantor had the legal right to transfer the property.
Fill in the deed form. Print it out. Have the grantor(s) sign and get the signature(s) notarized. Complete a transfer tax form, Form TP-584. Complete and print out Form RP-5217 (or, if you are in New York City, Form RP-5217NYC).
