West Virginia Warranty Deed from two Individuals to LLC
Understanding this form
This Warranty Deed from two Individuals to LLC is a legal document that transfers ownership of property from two individuals (the Grantors) to a limited liability company (the Grantee). This form specifically ensures the Grantors convey the property while reserving rights to minerals and resources beneath the surface. This form is crucial for legally documenting the transaction in real estate, distinguishing it from other types of deeds that may not involve an LLC or may not reserve mineral rights.
Key components of this form
- Grantors and Grantee: Names and details of the two individuals transferring the property and the LLC receiving it.
- Property Description: A legal description of the property being conveyed, typically attached as an exhibit.
- Consideration: The amount of money or value exchanged for the property, including a declaration of consideration.
- Reservation of Rights: Statement reserving any mineral rights beneath the property.
- Notarization Section: Space for a notary public to acknowledge the signatures of the Grantors.
Common use cases
This form is used when two individuals wish to transfer property they own to a limited liability company. This could occur during business formation, when consolidating property under an LLC, or for estate planning purposes. Additionally, this deed can be necessary when individuals intend to manage assets more effectively or limit personal liability tied to property ownership.
Who should use this form
- Individuals transferring ownership of their property to an LLC.
- LLC owners who need to document property contributions from multiple individuals.
- Real estate professionals looking to formalize property transactions involving an LLC.
How to prepare this document
- Identify the Grantors: Enter the names and details of the two individuals transferring the property.
- Specify the Grantee: Provide the name and details of the LLC receiving the property.
- Describe the Property: Include a legal description of the property, usually attached as Exhibit A.
- Enter Consideration: State the amount for which the property is being transferred.
- Complete Notary Information: Ensure the form is signed before a notary public who will verify the Grantors' identities.
Does this form need to be notarized?
Yes, this form must be notarized to be legally valid. The signatures of the Grantors must be acknowledged by a notary public. This process ensures the authenticity of the document and protects against fraudulent transactions. US Legal Forms offers integrated online notarization services that are available 24/7, secure through a video call, and recognized as legally equivalent to traditional notarization.
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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 include a clear legal description of the property.
- Not properly notarizing the document, which can invalidate it.
- Leaving out or incorrectly stating the reservation of mineral rights.
- Incorrectly filling out the consideration details or omitting them altogether.
Benefits of completing this form online
- Convenience of downloading and filling the form at your own pace.
- Editability ensures that you can make necessary changes before finalizing it.
- Peace of mind knowing the document is drafted by licensed attorneys.
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FAQ
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.
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.
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.
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.
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
To sign over property ownership to another person, you'll use one of two deeds: a quitclaim deed or a warranty deed.
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.
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.