Oklahoma Warranty Deed from two Individuals to Corporation
About this form
This Warranty Deed from two Individuals to Corporation is a legal document used to transfer ownership of real property from two individuals (the grantors) to a corporation (the grantee). This specific deed is important for ensuring that the corporation receives clear title to the property, while also reserving rights to any oil, gas, and minerals underlying the property, if applicable. Unlike other types of deeds, this one is tailored for transactions involving a corporate entity as the recipient of the property.
Key components of this form
- Identification of Grantors: Names and addresses of the two individuals transferring the property.
- Identification of Grantee: Full name and details of the corporation receiving the property.
- Property Description: Detailed legal description of the property being transferred.
- Consideration Clause: Statement of the payment or value exchanged for the property (if applicable).
- Reservation Clause: Clarifies the reservation of rights to oil, gas, and minerals beneath the property.
- Notarization Section: Required notary signatures to validate the deed.
Common use cases
This form should be used when two individuals wish to transfer ownership of their property to a corporation. This may occur during business transactions, investments in real estate by corporate entities, or when establishing a corporate structure that requires property ownership. Additionally, it is utilized when both grantors need to ensure they are explicitly reserving mineral rights related to the property.
Who this form is for
- Property owners who are transferring ownership to a corporation.
- Individuals involved in real estate investments or business partnerships with a corporate structure.
- Corporate entities acquiring property as part of their business operations.
How to prepare this document
- Identify the parties: Enter the names and addresses of both grantors and the corporation as the grantee.
- Specify the property: Provide a complete legal description of the property being conveyed.
- Enter consideration: Fill in any payment or value exchanged for the property, if applicable.
- Complete the reservation clause: Clearly state any reservations of rights to minerals beneath the property.
- Sign and notarize: Have all parties sign the deed and obtain necessary notarizations as required by law.
Notarization requirements for this form
Yes, this form must be notarized to be legally valid. U.S. Legal Forms offers an integrated online notarization feature that is available 24/7. This secure video service allows you to complete the notarization process conveniently without the need for in-person visits.
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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.
Avoid these common issues
- Failing to include all parties' names and their correct legal addresses.
- Neglecting to provide a complete and accurate legal description of the property.
- Not reserving rights to oil, gas, or minerals when intended.
- Forgetting to get the deed notarized, which may invalidate the transaction.
Benefits of completing this form online
- Convenience: Easily access and complete the form from your computer, making the process quicker.
- Editability: Modify the form as needed before finalizing the details of the transaction.
- Reliability: Forms provided are drafted by licensed attorneys to ensure legal compliance.
Main things to remember
- The Warranty Deed is essential for transferring property to a corporation while ensuring legal protections for the Grantors.
- Both spouses must sign if the property is considered a marital homestead.
- Notarization is required for legal validity of the warranty deed.
- Understanding local property tax laws is critical to avoid unintended costs.
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FAQ
Laws § 16-40. Recording (A§ 16-16) Must be filed with the Register of Deeds in the County where the property is located. Signing (A§ 16-26) The Grantor(s) are required to sign this form in the presence of a Notary Public. Step 1 Write in the date of the deed. Step 2 Fill in the name of the person selling.
Unlike a warranty deed or special warranty deed, a quitclaim deed makes no assurances whatsoever about the property.For example, in a divorce situation where one spouse deeds the house to the other spouse. Quitclaim deeds are commonly used to transfer real property to an LLC or a living trust.
It will not protect against title issues that arose prior to the time the seller took occupancy. Consequently, it offers less protection to buyers, and more protection to sellers, than a general warranty deed, which is the most common option for selling or buying a property.
An Oklahoma (OK) quitclaim deed is the type of deed used when people who trust one another need to transfer ownership or interest in real estate property from one person to the next.If the buyer (grantee) wants a warranty on the title and ownership, the proper form to use is a warranty deed.
Escheat is an example of involuntary alienation.
A special warranty deed to real estate offers protection to the buyer through the seller's guarantee that the title has been free and clear of encumbrances during their ownership of the property. It does not guarantee clear title beyond their ownership.
The Oklahoma general warranty deed is a type of legal document whereby an owner of a piece of property can sell his or her interest to another person.Once deeds are properly filled out and acknowledged by a notary, they are filed with the registrar of deeds in the county in which the property is located.
In Oklahoma, title to real property can be transferred from one party to another by executing a special warranty deed. A special warranty deed conveys an interest in real property to the named grantee with limited warranties of title.Generally, real property is owned in either sole ownership or in co-ownership.
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.
