Oklahoma Quitclaim Deed by Two Individuals to Corporation
What this document covers
The Quitclaim Deed by Two Individuals to Corporation is a legal document used to transfer property ownership. In this form, two individuals, referred to as Grantors, relinquish their rights to a property and convey it to a corporation, the Grantee. Unlike other types of deeds, a quitclaim deed does not provide any warranties regarding the title of the property. This means that the Grantors do not guarantee that the property is free of claims or liens, making it distinct from warranty deeds that offer such protections.
Main sections of this form
- Details of the Grantors (the individuals transferring the property).
- Information about the Grantee (the corporation receiving the property).
- Description of the property being transferred, including its physical address.
- Reservation of rights concerning oil, gas, and minerals beneath the property.
- Signatures of the Grantors and notarization section for validation.
Common use cases
This form is typically used when two individuals wish to transfer property ownership to a corporation without the need for a warranty. Scenarios may include family members transferring a property for business purposes, partnerships forming a new company, or individuals restructuring property ownership within a corporate framework.
Intended users of this form
- Property owners looking to transfer their interest to a corporation.
- Individuals forming a business entity that requires property ownership.
- Partners who need to clarify ownership of shared real estate.
How to prepare this document
- Identify both Grantors by filling in their full names and addresses.
- Specify the corporation's name and address as the Grantee.
- Provide a detailed description of the property being conveyed.
- Indicate any reservations related to oil, gas, and minerals.
- Sign the form in the presence of a notary public.
Notarization requirements for this form
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 include a detailed property description.
- Not having both Grantors sign the document if married.
- Ignoring the need for notarization, if applicable.
Why use this form online
- Convenience of completing the form from home or office.
- Editability to ensure all information is accurate before printing.
- Immediate access to legal form templates developed by licensed attorneys.
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FAQ
Quitclaim deeds are most often used to transfer property between family members. Examples include when an owner gets married and wants to add a spouse's name to the title or deed, or when the owners get divorced and one spouse's name is removed from the title or deed.
A quitclaim deed affects ownership and the name on the deed, not the mortgage. Because quitclaim deeds expose the grantee to certain risks, they are most often used between family members and where there is no exchange of money.Quitclaim deeds transfer title but do not affect mortgages.
A quitclaim deed is a deed (proof of ownership) that is passed from a grantor (the existing property owner) to a grantee (the new property owner) that does not have a warranty.A quitclaim deed has no guarantees for the grantor or grantee.
A quitclaim deed is quick and easy because it transfers all of one person's interest in the property to another.The deed transfers all claims the seller has to the property, if any. If the seller has no interest in the real estate, no interest is transferred.
A quitclaim deed transfers title but makes no promises at all about the owner's title.A person who signs a quitclaim deed to transfer property they do not own results in no title at all being transferred since there is no actual ownership interest. The quitclaim deed only transfers the type of title you own.
How to Quitclaim Deed to LLC. A quitclaim deed to LLC is actually a very simple process. You will need a deed form and a copy of the existing deed to make sure you identify titles properly and get the legal description of the property.
Yes, you can use a Quitclaim Deed to transfer a gift of property to someone. You must still include consideration when filing your Quitclaim Deed with the County Recorder's Office to show that title has been transferred, so you would use $10.00 as the consideration for the property.
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.
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.
