Tennessee Warranty Deed from two Individuals to Corporation
What is 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). Unlike other deeds, this form specifically addresses the interests of both individuals in conveying the property, while reserving certain rights related to oil, gas, and minerals. It provides essential protections and disclosures about the property being transferred, making it a vital document in real estate transactions involving corporations.
Key components of this form
- Description of the property being conveyed.
- Exemption of rights to oil, gas, and minerals under the property.
- Covenants of the grantors regarding title and encumbrances.
- Details on the source of title.
- Signature lines for the grantors and a notary public.
Situations where this form applies
This Warranty Deed should be used when two individuals wish to transfer their ownership of real estate to a corporation. It is applicable in scenarios such as business property acquisitions, estate planning, or joint ventures, where individual owners consolidate their property under a corporation's name while ensuring legal rights regarding any oil, gas, or minerals are reserved to the original owners.
Who can use this document
This form is suitable for:
- Individuals or partners holding title to property who want to transfer ownership to a corporation.
- Corporations looking to acquire real estate from individuals.
- Legal representatives involved in property transactions.
How to complete this form
- Identify the parties involved, including the names of the grantors and the corporation receiving the property.
- Clearly describe the property being transferred, including any legal descriptions if applicable.
- Indicate the reservation of rights for oil, gas, and minerals under the property.
- Enter the source of title and relevant deed details.
- Have all parties sign the form in front of a notary public and ensure the notary's information is completed.
Notarization guidance
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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 provide a complete property description, which can lead to transfer issues.
- Not including the reservation of oil, gas, and mineral rights if applicable.
- Neglecting to obtain proper notarization of the document.
- Omitting to record the deed with the local Register of Deeds after completing the transfer.
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FAQ
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
When recorded, a special warranty deed conveys an interest in real property to the named grantee with limited warranties of title. In Tennessee, special warranty deeds are statutory.This means that the deed will not protect the grantee against title issues that arose prior to the time the grantor acquired title.
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.
The original deed is returned to the owner of the property from the office of the recorder after proper entry. The office of the Recorder of Deeds maintains a set of indexes about each deed recorded, for an easy search. Almost all states have a grantor-grantee index including a reference to all documents recorded.
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.
After your Warranty Deed has been recorded at the County Clerk's Office, it can be sent to the grantee. However, any person or corporation can be designated as the recipient of the recorded Warranty Deed.
Tennessee deed forms convey interest in property from one party (the Grantor) to another (the Grantee). The documents can be prepared by anyone as long as the required information is written in the deed as outlined in § 66-5-103.
Retrieve your original deed. Get the appropriate deed form. Draft the deed. Sign the deed before a notary. Record the deed with the county recorder. Obtain the new original deed.
In order to convey any real property or an interest in property in Tennessee, the deed must be in writing, acknowledged by the grantor, and registered in the county where the property is located. The Annotated Code of Tennessee allows for the transfer of real property through the usage of a variety of deeds.