West Virginia 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 warranty deed ensures that the Grantors guarantee clear title to the property, conveying ownership while specifying any exceptions, such as reserved mineral rights. It is distinct from other deeds as it involves a corporate entity as the recipient of the property.
Main sections of this form
- Parties involved: Identifies the Grantors (two individuals) and Grantee (a corporation).
- Description of property: Specifies the land and any improvements being transferred.
- Consideration: States the value exchanged for the property, typically a nominal amount plus any other considerations.
- Covenant of title: Guarantees that the Grantors hold clear title and can legally sell the property.
- Notarization requirements: Indicates if notarization is needed for the deed to be valid.
Common use cases
This form is used when two individuals wish to transfer ownership of property to a corporation. It's relevant in transactions where real estate is being used for business purposes or when forming a company that requires property ownership. This deed guarantees that the individuals transferring the property can assure the corporation of a clear title, minimizing future legal disputes over ownership.
Who this form is for
- Individuals who currently own property and wish to transfer it to a corporation.
- Business owners establishing a legal entity that requires property ownership.
- Real estate professionals facilitating property transfers involving corporations.
How to prepare this document
- Identify the parties: Enter the names of the two individuals (Grantors) and the name of the corporation (Grantee).
- Specify the property: Include a detailed legal description of the property being transferred.
- Outline the consideration: Indicate the amount being exchanged for the property.
- Add signatures: Both Grantors must sign the document in the presence of a notary public.
- Handle notarization: Arrange for notarization if required to finalize the deed.
Is notarization required?
Notarization is required for this form to take effect. Our online notarization service, powered by Notarize, lets you verify and sign documents remotely through an encrypted video session, available 24/7.
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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.
Common mistakes
- Failing to include a full legal description of the property.
- Not obtaining the necessary notarization before filing.
- Leaving out the consideration amount, which can invalidate the deed.
- Neglecting to verify the existence of any easements or rights-of-way that may affect the property.
Advantages of online completion
- Convenient access to legal forms without needing to consult a lawyer for basic transactions.
- Editable templates allow for easy customization to fit specific needs.
- Instant downloading saves time and ensures the form is readily available.
Key takeaways
- The Warranty Deed from two Individuals to Corporation is essential for transferring property ownership legally.
- It protects both parties by outlining their rights and responsibilities regarding the property.
- Proper completion and notarization of this form are critical for ensuring its validity.
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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.
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.
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.
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 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.
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.
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.
To sign over property ownership to another person, you'll use one of two deeds: a quitclaim deed or a warranty deed.