Wisconsin 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 (the Grantors) to a corporation (the Grantee). This form ensures that the Grantors are conveying clear title to the corporate entity while reserving rights to any oil, gas, and minerals beneath the property. Unlike other types of deeds, this form specifically involves two individual Grantors and a corporate Grantee, outlining the terms under which the property is transferred.
Main sections of this form
- Identification of the parties: Names of the Grantors and the Grantee (corporation).
- Description of property: Specific details about the property being transferred, including a parcel identification number.
- Reservation of rights: Stipulates that Grantors retain rights to oil, gas, and minerals under the property.
- Warranties: Assurance that the title is clear and free from encumbrances, with exceptions noted.
- Tax obligations: Information regarding property taxes and how they are to be prorated between parties.
- Acknowledgment: Signature and acknowledgment by a notary public or authentication details if not notarized.
Situations where this form applies
This Warranty Deed should be used when two individuals wish to transfer property ownership to a corporation. This situation often arises in real estate transactions where individuals are forming a business entity to hold the property. It's essential when ensuring that the corporation holds the title of the property and that the previous owners reserve certain rights, particularly regarding subsurface resources like minerals.
Who should use this form
- Individuals who are co-owners of a property and want to transfer ownership to a corporation.
- Corporate representatives seeking a formal mechanism for acquiring property from individuals.
- Real estate professionals facilitating property transfers between individuals and corporate entities.
- Attorneys advising clients on real property transactions involving business entities.
How to complete this form
- Identify the Grantors: Clearly write the names of the two individuals transferring the property.
- Specify the Grantee: Enter the name of the corporation receiving the property.
- Describe the property: Provide a detailed description and parcel identification number for the property.
- State the reservations: Indicate any reserved rights to oil, gas, and minerals as specified.
- Sign the document: Ensure both Grantors sign the deed and complete the notarization section if required.
Is notarization required?
To make this form legally binding, it must be notarized. Our online notarization service, powered by Notarize, lets you verify and sign documents remotely through an encrypted video session.
Get your form ready online
Our built-in tools help you complete, sign, share, and store your documents in one place.
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.
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 accurately describe the property, leading to future disputes.
- Not including necessary reservations or rights retained by the Grantors.
- Missing signatures or not notarizing the document when required.
- Overlooking tax obligations related to property transfer.
Why use this form online
- Convenient access: Download the form anytime from the comfort of your home.
- Editability: Easily fill in the required fields without the need for physical forms.
- Legal reliability: Forms drafted by licensed attorneys ensure compliance with state laws.
- Time-saving: Avoid long waits at legal offices to obtain the necessary documentation.
Quick recap
- The Warranty Deed from Two Individuals to Corporation is essential for transferring property ownership to a corporation.
- This document ensures that specific rights, such as mineral rights, can be retained by the grantors.
- Proper notarization is required for legal effectiveness.
- Understanding local regulations is crucial for effective use of this form.
Looking for another form?
Form popularity
FAQ
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.
Corporate warranty deeds offer the seller's guarantee to the buyer in regards to the validity of the chain of title. Generally, special warranty deeds only protect against problems occurring since the seller purchased the property.
To officially prove ownership of a property, you will require Official Copies of the register and title plan; these are what people commonly refer to as title deeds because they are the irrefutable proof of ownership of a property. Note, this only applies to registered property.
A property deed, or house deed, is a legal document that transfers ownership of real estate from the grantor (seller) to the grantee (buyer). Property deeds are the legal tool of defining ownership. When a property or house is sold, the buyer and seller sign the deed to transfer ownership.
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.
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
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.
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.
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.
