West Virginia Warranty Deed from Corporation to Two Individuals
What is this form?
The Warranty Deed from Corporation to Two Individuals is a legal document used to transfer property ownership from a corporation to two individuals. This form ensures that the property is conveyed with legal assurance, typically specifying that the corporation grants the property while reserving certain rights to minerals beneath it. Unlike general deeds, this warranty deed provides additional protection to the grantees (the individuals receiving the property) by warranting the title against potential claims. It is essential for clear property ownership transfer in real estate transactions involving multiple parties.
Key parts of this document
- Names and details of the Grantor (the corporation) and Grantees (the two individuals).
- Legal description of the property being transferred.
- Covenants that affirm the Grantor holds a clear title to the property.
- Provisions for rights of survivorship among the Grantees.
- Declaration of considerations or value for the property transaction.
- Notarization section for legal validation.
When this form is needed
This form is suitable when a corporation wishes to transfer ownership of a property to two individuals. It is often used in situations such as family inheritance or when a corporation is dissolving and distributing its assets. If the individuals want to ensure that property rights are clearly defined and that they will have rights to the property in the event of oneâs death, this warranty deed is the appropriate choice.
Who this form is for
- Corporations looking to transfer real estate to individuals.
- Individuals receiving property as joint tenants with rights of survivorship.
- Real estate professionals facilitating property transfers on behalf of their clients.
- Legal representatives handling the dissolution of a corporation.
How to complete this form
- Identify and fill in the names of the Grantor (corporation) and Grantees (two individuals).
- Specify the legal description of the property being transferred.
- Enter the consideration amount for the property transfer.
- Sign the deed in front of a notary public to validate the transfer.
- Ensure all necessary information is recorded, including dates and notarization details.
Does this document require notarization?
Yes, this form must be notarized to be legally valid. The notarization process verifies the identities of the parties involved and ensures that the deed is executed properly. US Legal Forms offers integrated online notarization services, allowing users to complete the notarization process securely through a video call without the need to travel.
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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 provide a complete legal description of the property.
- Not signing the form in the presence of a notary public.
- Leaving out the declaration of consideration or value.
- Incorrectly stating the names or details of the Grantor or Grantees.
Why use this form online
- Convenient access to professionally drafted legal forms anytime, anywhere.
- Editable templates that allow personalization based on individual needs.
- Reliable and compliant with state regulations to ensure legal validity.
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FAQ
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.
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.
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.
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.
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.
Adding someone to your house deed requires the filing of a legal form known as a quitclaim deed. When executed and notarized, the quitclaim deed legally overrides the current deed to your home. By filing the quitclaim deed, you can add someone to the title of your home, in effect transferring a share of ownership.
Special warranties allow the transfer of property title between seller and buyer. The purchase of title insurance can mitigate the risk of prior claims to the special 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.
