Wilmington Corporation

• Category: North Carolina Real Estate - Deeds - Warranty
• State: North Carolina
• City: Wilmington
• Control #: NC-011-78
• Format: Word; Rich Text

Description

This Warranty Deed from Corporation to Individual form is a Warranty Deed where the Grantor is a corporation and the Grantee is an individual. Grantor conveys and warrants the described property to Grantee 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. A general warranty deed is a legal document used to transfer the ownership of real estate property from a corporation to an individual in Wilmington, North Carolina. This type of deed guarantees that the corporation owns the property, has the right to sell it, and the property is free from any liens or encumbrances. The Wilmington North Carolina General Warranty Deed from Corporation to Individual ensures that the buyer/person receiving the property gets full legal protection and ownership rights. It implies that the corporation is willing to defend against any claims that may arise regarding the property before or after the transfer. There are several subtypes or variations of the general warranty deed used in Wilmington, North Carolina. These variations may include: 1. General Warranty Deed with Encumbrance: This type of deed transfers the property to an individual, but with certain encumbrances or limitations. The encumbrances could include mortgages, liens, or easements that the property may have. These encumbrances are clearly mentioned in the deed to inform the buyer. 2. Special Warranty Deed: Unlike the general warranty deed, a special warranty deed only guarantees that the corporation has not caused any defects in the title during their ownership period. It does not protect against defects that may have existed before the corporation acquired the property. 3. Quitclaim Deed: Although not a general warranty deed, this type of deed can also be used to transfer property from a corporation to an individual. However, a quitclaim deed provides the least amount of protection for the buyer. It simply transfers the corporation's interest in the property without any guarantee or warranty of title. It is important for individuals considering purchasing property in Wilmington, North Carolina to carefully review the type of general warranty deed being used and seek legal advice if needed. This will help ensure that their rights as the new property owners are fully protected and that there are no encumbrances or defects that can affect their ownership in the future.

A general warranty deed is a legal document used to transfer the ownership of real estate property from a corporation to an individual in Wilmington, North Carolina. This type of deed guarantees that the corporation owns the property, has the right to sell it, and the property is free from any liens or encumbrances. The Wilmington North Carolina General Warranty Deed from Corporation to Individual ensures that the buyer/person receiving the property gets full legal protection and ownership rights. It implies that the corporation is willing to defend against any claims that may arise regarding the property before or after the transfer. There are several subtypes or variations of the general warranty deed used in Wilmington, North Carolina. These variations may include: 1. General Warranty Deed with Encumbrance: This type of deed transfers the property to an individual, but with certain encumbrances or limitations. The encumbrances could include mortgages, liens, or easements that the property may have. These encumbrances are clearly mentioned in the deed to inform the buyer. 2. Special Warranty Deed: Unlike the general warranty deed, a special warranty deed only guarantees that the corporation has not caused any defects in the title during their ownership period. It does not protect against defects that may have existed before the corporation acquired the property. 3. Quitclaim Deed: Although not a general warranty deed, this type of deed can also be used to transfer property from a corporation to an individual. However, a quitclaim deed provides the least amount of protection for the buyer. It simply transfers the corporation's interest in the property without any guarantee or warranty of title. It is important for individuals considering purchasing property in Wilmington, North Carolina to carefully review the type of general warranty deed being used and seek legal advice if needed. This will help ensure that their rights as the new property owners are fully protected and that there are no encumbrances or defects that can affect their ownership in the future.