Tennessee Warranty Deed from two Individuals to Corporation
What this document covers
This Warranty Deed from two Individuals to Corporation form is a legal document used to transfer property ownership from two individuals (the Grantors) to a corporation (the Grantee). It ensures that the Grantors have the right to sell the property and that the title is free from encumbrances, while also reserving any oil, gas, or mineral rights if applicable. This form is distinct from other deeds as it specifies the transfer from individuals to a corporation, addressing their unique legal requirements.
Key parts of this document
- Identification of Grantors and Grantee, including their names and addresses.
- Description of the property being transferred, with an attached detailed description.
- Reservation of oil, gas, and mineral rights owned by the Grantors.
- Covenant assuring the Grantee of a clear title with no encumbrances.
- Notarization requirements to validate the form.
- Affidavit of consideration stating the value of the property transferred.
Situations where this form applies
Intended users of this form
- Individuals who co-own property and wish to transfer it to a corporation.
- Representatives or officers of a corporation receiving property from individuals.
- Legal professionals managing property transfers that involve both private individuals and corporate entities.
How to prepare this document
- Identify the parties involved: enter the names and addresses of both the Grantors and Grantee.
- Specify the property: provide a detailed description of the property being transferred, ensuring accuracy.
- Indicate any reserved rights: clearly note any retention of oil, gas, or mineral rights by the Grantors.
- Enter necessary dates and sign: ensure that all parties sign and date the form in the specified sections.
- Obtain notarization: have the form notarized to ensure its legal validity.
Notarization requirements for this form
Yes, this form must be notarized to be legally valid. Notarization verifies the identity of the parties involved and ensures that the form was executed freely. US Legal Forms offers integrated online notarization through secure video calls, available 24/7, making the process simple 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.
Avoid these common issues
- Failing to provide a complete and accurate description of the property.
- Not reserving any necessary rights, such as oil or mineral rights.
- Omitting signatures or dates, which may render the document invalid.
- Neglecting to notarize the form, when required.
Advantages of online completion
- Convenience of downloading and printing the form directly from your device.
- Editability allows for customization to fit specific legal needs.
- Reliability, knowing the form is prepared by licensed attorneys.
Key takeaways
- This form is specifically designed for transferring property from individuals to a corporation.
- It includes necessary legal protections, such as the reservation of mineral rights.
- Notarization is required for the form to be enforceable.
- Careful completion of the form can prevent legal disputes regarding ownership.
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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.