A Boston Massachusetts Warranty Deed from Husband and Wife to Corporation is a legal document that serves as evidence of the transfer of ownership of a property from a married couple to a corporation in Boston, Massachusetts. It guarantees that the property is free from any encumbrances, except those specifically stated in the deed. This type of deed is typically used when a married couple jointly owns a property and decides to transfer the ownership to a corporation. It ensures the corporation obtains complete and unrestricted ownership rights to the property. The Boston Massachusetts Warranty Deed from Husband and Wife to Corporation typically includes the following crucial elements: 1. Granter: The deed identifies the couple, referred to as the granters, who currently own the property and wish to transfer it to the corporation. 2. Grantee: The deed also identifies the corporation, known as the grantee, which will become the new owner of the property. 3. Property Description: A detailed and accurate description of the property being transferred is included in the deed. It includes the property's legal description, such as lot numbers, block numbers, and any other relevant information required to identify the property. 4. Consideration: The deed states the consideration, which is the exchange of value between the granters and the grantee. This can be the purchase price paid by the corporation to the couple or any other form of valuable consideration agreed upon. 5. Covenants: This type of warranty deed offers various covenants or promises from the granters to the grantee, ensuring the property is conveyed with clear title. Common covenants include the covenant of basin, covenant of the right to convey, and covenant against encumbrances, among others. Different variations of Boston Massachusetts Warranty Deed from Husband and Wife to Corporation include: 1. General Warranty Deed: This type of deed provides the broadest form of protection to the grantee by guaranteeing clear title and protection against any claims or defects, even if they have arisen before the granters owned the property. 2. Limited or Special Warranty Deed: This variation guarantees that only the granters have not done anything to encumber the property during their ownership. It provides protection against claims arising only during their period of ownership. 3. Quitclaim Deed: A Quitclaim Deed transfers the granters' rights, interests, and claims in the property to the corporation, without any guarantees or warranties regarding title. It is often used when a married couple wants to transfer ownership but does not wish to assume any liability for possible defects in the title. 4. Bargain and Sale Deed: This type of deed implies that the granters have the rights to sell the property but does not provide any warranties. It transfers the property's ownership but does not guarantee the grantee's protection against any claims. It is essential to consult with a legal professional specializing in real estate law to ensure the appropriate form of Boston Massachusetts Warranty Deed from Husband and Wife to Corporation is selected and properly executed.
Boston Massachusetts Warranty Deed from Husband and Wife to Corporation
Description
How to fill out Boston Massachusetts Warranty Deed From Husband And Wife To Corporation?
If you are looking for a legitimate form template, it’s hard to find a more accessible place than the US Legal Forms site – one of the largest collections on the web.
With this collection, you can obtain numerous templates for both business and personal use by categories, states, or keywords.
With our enhanced search capability, acquiring the most recent Boston Massachusetts Warranty Deed from Husband and Wife to Corporation is as straightforward as 1-2-3.
Complete the payment. Use your credit card or PayPal account to finalize the registration process.
Obtain the template. Choose the file format and download it to your computer. Edit the document. Complete, modify, print, and sign the obtained Boston Massachusetts Warranty Deed from Husband and Wife to Corporation.
- Furthermore, the relevance of every record is confirmed by a group of proficient attorneys who regularly assess the templates on our site and update them to align with the latest state and county requirements.
- If you are already familiar with our system and have a registered account, all you have to do to get the Boston Massachusetts Warranty Deed from Husband and Wife to Corporation is to Log In to your account and click the Download button.
- If you are using US Legal Forms for the first time, simply adhere to the guidelines outlined below.
- Ensure you have located the form you seek. Review its details and utilize the Preview function to examine its contents. If it does not fulfill your requirements, employ the Search box at the top of the screen to find the suitable document.
- Validate your selection. Click the Buy now button. Then, select your preferred pricing plan and provide the necessary details to create an account.
Form popularity
FAQ
In Massachusetts, there are three types of property deeds used for real estate transactions: warranty deeds, quitclaim deeds and release deeds. Each type of deed offers varying levels of protection and guarantees against flaws in the title of the transferred real estate.
Real estate conveyances in Massachusetts are governed under Massachusetts General Laws Chapters 183 and 184. Quitclaim deeds with limited covenants are used to transfer the rights, title, and interest in real estate, if any, from the grantor (seller) to the grantee (buyer).
The quitclaim deed is the most commonly used deed in the purchase and sale of residential property in Massachusetts. It plays a fundamental role in the types of assurances the seller makes when transferring its rights, and in how the buyer takes title.
In Massachusetts, there are three types of property deeds used for real estate transactions: warranty deeds, quitclaim deeds and release deeds. Each type of deed offers varying levels of protection and guarantees against flaws in the title of the transferred real estate.
The seller typically pays the deed stamps (a tax paid at the registry of deeds $4.56 per thousand of purchase price) realtor commissions, fees for clearing title, mortgage payoff and fees associated with the mortgage.
How Much Are Transfer Taxes in Massachusetts? The amount of the transfer tax depends on how much the property sells for and its location. The basic transfer tax rate in Massachusetts is $2.28 per $500 of property value. However, some counties charge additional transfer taxes.
No guarantees to the new owner: Unlike a warranty deed, a quitclaim deed does not guarantee that a property is free from title defects such as tax liens or title claims from third parties. For this reason, it is a poor legal instrument to use when selling a piece of property for cash considerations.
The registry of deeds charges a fee of $125 to record the deed which the buyer pays. All deeds must be notarized by a notary public who must verify the sellers' identification through a state issued driver's license or acceptable form of identification.
Recording ? All deeds must be brought to the Registry of Deeds Office in the district where the property is located along with the Required Filing Fee. Signing (M.G.L.A. 183 § 29) ? All deeds that are to be recorded in the State of Massachusetts must be acknowledged in the presence of a notary public.
Document must be signed with an original signature and notarized if required. Signers' and notaries' names must be printed under the signature. Notary expiration date is required. Do not put social security numbers or personal identification numbers on any recorded document.