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Pennsylvania Warranty Deed from Individual to Corporation

Pennsylvania Warranty Deed from Individual to Corporation

Name: Pennsylvania Warranty Deed from Individual to Corporation
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.55 (334 reviews)

Category:

Pennsylvania Real Estate - Deeds - Warranty

State:

Pennsylvania

Control #:

PA-06-78

Format:

Instant download

Description

This Warranty Deed from Individual to Corporation form is a Warranty Deed where the grantor is an individual and the grantee is a corporation. Grantor conveys and warrants the described property to grantee less and except all oil, gas and minerals, on and under the property owned by Grantors, if any, which are reserved by Grantors.

LegalLife Multistate Guide and Handbook for Selling or Buying Real Estate

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FAQ

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.

Contrary to normal expectations, the Deed DOES NOT have to be recorded to be effective or to show delivery, and because of that, the Deed DOES NOT have to be signed in front of a Notary Public. However, if you plan to record it, then it does have to be notarized as that is a County Recorder requirement.

A warranty deed guarantees that: The grantor is the rightful owner of the property and has the legal right to transfer the title.The title would withstand third-party claims to ownership of the property. The grantor will do anything to ensure the grantee's title to the property.

To transfer property in Pennsylvania, you'll need to prepare and execute a deed and record it in the county where the property is located. If the transfer was in exchange for money, you'll have to pay transfer tax.

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.

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

All deeds are to be signed in front of a Notary Public (just the Grantor) and the Grantee is to also sign the Certificate of Residency. Afterwards the deed may be filed with the Recorder's Office in the jurisdiction of the property.

The State of Pennsylvania charges 1% of the sales price and the municipality and school district USUALLY charge 1% between them for a total of 2% (i.e. 2% X 100,000 = $2,000). By custom, the buyer and seller split the cost. 1% to buyer, 1% to seller; however payment is dictated by the sales contract.

In order to make the Warranty Deed legally binding, the Seller needs to sign it front of a notary public. Then signed and notarized deed must be filed at the city or county office for recording property documents. Before filing with this office all previously billed property taxes must be paid in full.

Pennsylvania Warranty Deed from Individual to Corporation

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FAQ

Who keeps original warranty deed?

Does a warranty deed need to be recorded?

Does a warranty deed mean you own the property?

How do you transfer a deed in PA?

What is the difference between a deed and a warranty deed?

Does a warranty deed prove ownership?

How do I record a deed in PA?

How much does it cost to transfer a deed in PA?

How do I write a warranty deed?

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Pennsylvania Warranty Deed from Individual to Corporation

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