Rhode Island Warranty Deed from two Individuals to Corporation
About this form
The Warranty Deed from two Individuals to Corporation is a legal document used to transfer property ownership from two individuals (Grantors) to a corporation (Grantee). This form assures the Grantee that the property is free of encumbrances and outlines the rights and responsibilities related to the property, distinguishing it from other real estate transfer documents by reserving certain rights to minerals, oil, and gas to the Grantors.
What’s included in this form
- Description of the property being transferred.
- Prior instrument reference for tracking previous ownership documents.
- Reservation clause for oil, gas, and mineral rights by Grantors.
- Covenant assuring the title is clear of encumbrances.
- Notary acknowledgment section for legal validation.
- Signature lines for Grantors and witness acknowledgment.
When to use this document
This form is typically used when two individuals wish to transfer real estate to a corporation. Situations may include family businesses expanding their asset portfolio or property investments being formalized under a corporate entity. It ensures that the rights to any subsurface resources are retained by the original owners.
Who can use this document
- Individuals transferring property to their corporation.
- Business owners looking to formalize ownership structures.
- Real estate developers who need to document property transfer to a corporate entity.
How to prepare this document
- Identify the parties involved: the Grantors (two individuals) and the Grantee (the corporation).
- Provide a detailed description of the property being transferred.
- Specify any prior ownership references for the property.
- Include the reservation of rights for oil, gas, and minerals, if applicable.
- Sign the form in the presence of a notary public to complete the transaction.
Does this form need to be notarized?
Yes, this form must be notarized to be legally valid. US Legal Forms offers integrated online notarization services, providing 24/7 availability and secure video calls, ensuring the process is straightforward and efficient.
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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 to avoid
- Failing to accurately describe the property, which can lead to disputes.
- Not including prior instrument references, making the deed harder to verify.
- Neglecting to reserve mineral rights if that is the intention of the Grantors.
- Not having the document notarized, which is essential for legal validation.
Benefits of using this form online
- Convenience of accessing and downloading the form at any time.
- Editability allows users to customize according to specific needs.
- Provides reliable legal formatting and language drafted by licensed attorneys.
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FAQ
Typically, the lender will provide you with a copy of the deed of trust after the closing. The original warranty deeds are often mailed to the grantee after they are recorded. These are your original copies and should be kept in a safe place, such as a fireproof lockbox or a safe deposit box at a financial institution.
If you've recently married and already own a home or other real estate, you may want to add your new spouse to the deed for your property so the two of you own it jointly. To add a spouse to a deed, all you have to do is literally fill out, sign and record a new deed in your county recorder's office.
File the deed form at your county's deed assessor or property records department. Pay the filing fee, which is $25 to $40 depending on your county. The deed is official once you pay the filing fee.
A warranty deed guarantees that: The grantor is the rightful owner of the property and has the legal right to transfer the title.The title would withstand third-party claims to ownership of the property. The grantor will do anything to ensure the grantee's title to the property.
Let's start with the definition of a deed: DEED: A written instrument by which one party, the Grantor, conveys the title of ownership in property to another party, the Grantee. A Warranty Deed contains promises, called covenants, that the Grantor makes to the Grantee.
Both the warranty deed and deed of trust are recorded with the county clerk or recorder. Generally, the lender sends the documents to be recorded after the closing.The original warranty deeds are often mailed to the grantee after they are recorded.
It's important to note that a warranty deed does not actually prove the grantor has ownership (a title search is the best way to prove that), but it is a promise by the grantor that they are transferring ownership and if it turns out they don't actually own the property, the grantor will be responsible for compensating
In order to make the Warranty Deed legally binding, the Seller needs to sign it front of a notary public. Then signed and notarized deed must be filed at the city or county office for recording property documents. Before filing with this office all previously billed property taxes must be paid in full.
