Ohio General Warranty Deed from two Individuals to Corporation
Understanding this form
The General Warranty Deed from two Individuals to Corporation is a legal document used to transfer property ownership from two individuals (the Grantors) to a corporation (the Grantee). This form guarantees that the Grantors have clear title to the property and can convey it free of encumbrances, except as stated in the deed. Unlike other types of deeds, this form includes specific reservations for oil, gas, and minerals beneath the property, ensuring these rights remain with the Grantors.
Key parts of this document
- Parties Involved: Identification of Grantors (the individuals) and Grantee (the corporation).
- Property Description: Details of the property being conveyed, including its legal description.
- Reservation of Rights: A clause specifying that oil, gas, and minerals are reserved by the Grantors.
- Warranties: Assurance that the property is free from encumbrances, with exceptions outlined.
- Signatures: Required signatures of both Grantors and their spouses, if applicable, to validate the deed.
- Date of Execution: The date when the deed is signed, essential for legal record-keeping.
Situations where this form applies
This General Warranty Deed is commonly used when two individuals wish to transfer property ownership to a corporation. Scenarios include the sale of real estate by business partners to their corporation or the reallocation of owned property into a corporate structure for tax or liability benefits. This form is also useful in estate planning, where individuals want to transfer property to a corporate entity for future management or investment purposes.
Who needs this form
- Individuals transferring property to their corporation for business purposes.
- Partners in a business who wish to consolidate property ownership under the corporate entity.
- Business owners engaged in estate planning who want to secure their assets within a corporate structure.
- Real estate professionals or attorneys involved in property transfers that include corporate entities.
How to prepare this document
- Identify the parties involved: Enter the full names and addresses of both Grantors and the Grantee corporation.
- Specify the property: Provide a complete legal description of the property being conveyed.
- Review reservations: Detail any rights being reserved, such as oil, gas, and mineral rights.
- Include relevant encumbrances: Note any existing mortgages or liens that may not be cleared by this transfer.
- Obtain signatures: Ensure all Grantors and their spouses, if applicable, sign the document in the designated areas.
- Date the form: Clearly write the date on which the deed is executed to establish its legal validity.
Is notarization required?
Notarization is required for this form to take effect. Our online notarization service, powered by Notarize, lets you verify and sign documents remotely through an encrypted video session, 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 accurately describe the property, which can lead to legal disputes.
- Omitting signatures from one or more Grantors, invalidating the deed.
- Not including the reservation of mineral rights, if applicable.
- Incorrectly filling out key sections, leading to confusion about the terms of the transfer.
Why complete this form online
- Convenient access to legal forms anytime, from anywhere.
- Editability allows you to fill out the form digitally, ensuring clarity and precision.
- Reliability from professionally drafted templates by licensed attorneys.
- Instant downloads mean you can get started on your legal matters without delay.
Summary of main points
- The General Warranty Deed facilitates the transfer of property from individuals to a corporation.
- It ensures the property is conveyed free of encumbrances, with certain reservations for minerals.
- Proper completion involves clear identification of parties, property description, and obtaining necessary signatures.
- State-specific requirements may apply, particularly in Ohio.
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FAQ
They are (1) covenant for seisin; (2) covenant of the right to convey; (3) covenant against encumbrances; (4) covenant for QUIET ENJOYMENT; (5) covenant of general WARRANTY; and (6) covenant for further assurances.
The answer is yes. Parties to a transaction are always free to prepare their own deeds. If you do so, be sure your deed measures up to your state's legal regulations, to help avert any legal challenge to the deed later.
Ohio Deeds: Warranty Deeds A warranty deed is a type of deed where the grantor (seller) guarantees that he or she holds clear title to a piece of real estate and has a right to sell it to the grantee (buyer).
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 is a document often used in real estate that provides the greatest amount of protection to the purchaser of a property. It pledges or warrants that the owner owns the property free and clear of any outstanding liens, mortgages, or other encumbrances against it.
The name and address of the seller (called the grantor) The name and address of the buyer (called the grantee) A legal description of the property (found on the previous deed) A statement that the grantor is transferring the property to the grantee.
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.
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.
