Oregon Quitclaim Deed from Corporation to Corporation
Understanding this form
The Quitclaim Deed from Corporation to Corporation is a legal document where one corporation (the Grantor) transfers its interest in a property to another corporation (the Grantee). Unlike other types of deeds, a quitclaim deed does not guarantee that the title is free of claims or liabilities. This form effectively conveys property rights while excluding specific natural resources from the transfer, making it distinct in its function and use.
What’s included in this form
- Names and addresses of both the Grantor and Grantee corporations
- Description of the property being conveyed
- Reservation clause for any oil, gas, and minerals under the property
- Provisions for prorating tax obligations for the current tax year
- Signature lines for authorized representatives of both corporations
Common use cases
This form is commonly used when one corporation wishes to transfer its interest in a property to another corporation without making any warranties about the title. It is particularly useful in corporate restructuring, mergers, or when transferring assets in business transactions where there is familiarity with the property title.
Who this form is for
This form is suitable for:
- Corporations planning to transfer property ownership to another corporation
- Corporate legal teams managing asset transfers
- Business owners involved in corporate mergers or acquisitions
How to complete this form
- Identify the Grantor and Grantee corporations by entering their full legal names and addresses.
- Describe the property being transferred clearly, including its legal description.
- Include the reservation clause regarding oil, gas, and minerals if applicable.
- Specify how taxes for the current tax year will be prorated or paid.
- Have authorized representatives of both corporations sign the document to finalize the transfer.
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.
Common mistakes
- Failing to include a complete legal description of the property.
- Not obtaining proper signatures from authorized representatives of both corporations.
- Neglecting to specify tax payment responsibilities for the year of transfer.
- Omitting the reservation clause for oil, gas, and minerals when applicable.
Why use this form online
- Convenience of accessing and completing the form from any location.
- Editable formats allow for easy customization to fit specific needs.
- Reliability of having a document drafted in compliance with legal standards.
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FAQ
When done properly, a deed is recorded anywhere from two weeks to three months after closing. However, there are many instances where deeds are not properly recorded. Title agents commit errors, lose deeds, and even go out of business. Even county offices sometimes fail to record deeds that were properly submitted.
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.
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.
Signing - The selling party must sign the quit claim deed in front of a Notary Public (ORS 93.410). Recording - Once notarized, the quit claim deed must be filed with the County Court Clerk's Office in the jurisdiction in which the property is located, along with any adjoining fees.
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.
They are commonly used to add/remove someone to/from real estate title or deed (divorce, name changes, family and trust transfers). The quitclaim deed is a legal document (deed) used to transfer interest in real estate from one person or entity (grantor) to another (grantee).
A Quitclaim Deed must be notarized by a notary public or attorney in order to be valid.Consideration in a Quitclaim Deed is what the Grantee will pay to the Grantor for the interest in the property.
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.
