This Warranty Deed from Individual to a Trust form is a Warranty Deed where the grantor is an individual and the grantee is a trust. Grantor conveys and warrants the described property to trustee of trust less and except all oil, gas and minerals, on and under the property owned by Grantor, if any, which are reserved by Grantor. This deed complies with all state statutory laws.
West Virginia Warranty Deed from Individual to a Trust
Category:
State:
West Virginia
Control #:
WV-015-77
Format:
Word;
Rich Text
Instant download
Description Warranty Deed Form West Virginia
Free preview West Virginia Warranty Deed
How to fill out West Virginia Warranty Deed From Individual To A Trust?
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FAQ
Trustee's deeds convey real estate out of a trust.This type of conveyance is named for the person using the form the trustee who stands in for the beneficiary of the trust and holds title to the property.
A trustee deed offers no such warranties about the title.
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.
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 protects property owners from future claims that someone else actually owns a portion (or all) of their property, while trustee deeds protect lenders when borrowers default on their mortgage loans.
A special warranty deed to real estate offers protection to the buyer through the seller's guarantee that the title has been free and clear of encumbrances during their ownership of the property. It does not guarantee clear title beyond their 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.
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.