West Virginia Warranty Deed from Corporation to Corporation
What this document covers
The Warranty Deed from Corporation to Corporation is a legal document that transfers property ownership from one corporation to another. This form ensures that the Grantor (the selling corporation) conveys full rights of the specified property to the Grantee (the purchasing corporation). Unlike other types of deeds, this warranty deed provides a guarantee of title, meaning the Grantor assures that the property is free from any undisclosed encumbrances, though certain rights like mineral rights may be reserved. This deed complies with all state statutory laws, making it a reliable choice for corporate transactions.
Key components of this form
- Identification of the Grantor and Grantee corporations, including their legal status and state of incorporation.
- A detailed legal description of the property being transferred.
- Clauses concerning the reservation of rights, such as oil, gas, and mineral rights.
- Covenants of the Grantor regarding their title and assurance of free and clear ownership.
- Statements regarding the consideration paid for the property.
- Execution section, including required signatures and notarization details.
When to use this form
This form should be used when a corporation wishes to transfer property ownership to another corporation. It is commonly applicable in situations such as corporate mergers, asset sales, or when one business entity acquires real property from another. This form provides the necessary legal framework to ensure that the transaction is conducted legally and securely.
Who should use this form
- Corporations involved in real estate transactions.
- Corporate legal representatives or agents responsible for property transfers.
- Business owners looking to transfer corporate assets to another corporation.
- Attorneys drafting documentation for corporate property transfers.
How to prepare this document
- Identify the Grantor and Grantee by filling in the full corporate names and states of incorporation.
- Specify the property being transferred using the legal description attached as Exhibit A.
- Declare any reservations of rights, such as carbon, oil, or mineral rights.
- Indicate the consideration for the property transfer and complete the declaration of consideration section.
- Sign the deed in the presence of a notary public, who must also complete their part of the form.
Notarization requirements for this form
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.
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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.
Typical mistakes to avoid
- Failing to include a complete legal description of the property.
- Not properly identifying both the Grantor and Grantee corporations.
- Neglecting to reserve any mineral rights if applicable.
- Missing signatures or notarization, which are essential for validity.
- Inaccurately stating the consideration for the property.
Advantages of online completion
- Easy access to legally vetted forms drafted by licensed attorneys.
- Convenience of downloading and filling out the form from any location.
- Editable fields allow users to tailor the document to specific needs.
- Fast and efficient compared to traditional methods of obtaining legal documents.
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FAQ
A statutory warranty deed is different from a warranty deed because it is a shorter form made available through your state's statutes and it may not outright list the promise that the title is guaranteed to be clear. Instead, because it is a statutory form, this guarantee is implied and is still legally enforceable.
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.
A warranty deed, also known as a general warranty deed, is a legal real estate document between the seller (grantor) and the buyer (grantee). The deed protects the buyer by pledging that the seller holds clear title to the property and there are no encumbrances, outstanding liens, or mortgages against it.
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.
A special warranty deed is a deed to real estate where the seller of the propertyknown as the grantorwarrants only against anything that occurred during their physical ownership. In other words, the grantor doesn't guarantee against any defects in clear title that existed before they took possession of the property.
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.
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.
A warranty deed is a higher level of protection produced by the seller upon the real estate closing. It includes a full legal description of the property, and confirms the title is clear and free from all liens, encumbrances, or title defects. Most property sales make use of a warranty deed.
