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North Carolina General Warranty Deed from Individual to Corporation

General Warranty Deed

Name: North Carolina General Warranty Deed from Individual to Corporation
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.57 (351 reviews)

Category:

North Carolina Real Estate - Deeds - Warranty

State:

North Carolina

Control #:

NC-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.

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FAQ

To transfer ownership of land in North Carolina, the owner must execute and file a new deed with the register of deeds for the North Carolina county where the property is located.

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.

Under the Grantor section of the deed, write the name of the person transferring title. Under Grantee, write the name of the person receiving title. Describe the parcel of land. Use the street address and include the North Carolina County where the land is located.

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 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.

When ownership in North Carolina real estate is transferred, an excise tax of $1 per $500 is levied on the value of the property. For example, a $600 transfer tax would be imposed on the sale of a $300,000 home. Transfer taxes in North Carolina are typically paid by the seller.

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.

General Warranty Deed

Description

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How to fill out North Carolina General Warranty Deed From Individual To Corporation?

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FAQ

How do you transfer a deed in NC?

Is a general warranty deed the same as a deed?

How do I fill out a NC general warranty deed?

What happens to the original warranty deed after it has been recorded?

Does a warranty deed prove ownership?

Who keeps the original deed?

Who keeps original warranty deed?

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

Who prepares a warranty deed?

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General Warranty Deed

Description

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How to fill out North Carolina General Warranty Deed From Individual To Corporation?

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