A Charlotte North Carolina General Warranty Deed from Corporation to Corporation is a legal document that transfers ownership of real estate property between two corporations. This type of deed guarantees that the property is free of any encumbrances, except those specifically stated in the deed. The general warranty deed provides comprehensive protection to the buyer, known as the grantee, from any claims or legal issues that may arise in the future. The corporation selling the property, referred to as the granter, is responsible for defending the title against any third-party claims, even if they originated before the granter acquired the property. There are several types of Charlotte North Carolina General Warranty Deed from Corporation to Corporation that can be distinguished based on specific conditions or circumstances: 1. Special Warranty Deed: This type of deed provides limited warranty or guarantee only for the period when the granter owned the property. It does not cover any issues or claims that may have existed before the granter's ownership. 2. Quitclaim Deed: Unlike a general warranty deed, a quitclaim deed does not provide any warranties or guarantees. It simply transfers whatever interest the granter has in the property, without any assurances regarding title defects or encumbrances. 3. Bargain and Sale Deed: This type of deed transfers ownership of the property from the granter to the grantee, but does not provide any warranties or guarantees. It is commonly used in foreclosure or tax sale situations where the granter may not have complete knowledge or control over the property's history. 4. Executor's Deed: An executor's deed is used when the granter is an executor or personal representative of an estate transferring the property to a corporation. It typically includes language indicating that the granter has the legal authority to sell the property. 5. Trustee's Deed: A trustee's deed is used when the granter is a trustee of a trust and is transferring the property to a corporation. It includes language indicating that the trustee has the legal authority to sell the property on behalf of the trust. In conclusion, a Charlotte North Carolina General Warranty Deed from Corporation to Corporation is a legal document that facilitates the transfer of ownership of real estate property between two corporations, providing comprehensive warranties and guarantees from the granter to the grantee. Different types of these deeds exist, including special warranty deeds, quitclaim deeds, bargain and sale deeds, executor's deeds, and trustee's deeds.
Charlotte North Carolina General Warranty Deed from Corporation to Corporation
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FAQ
A General Warranty Deed is a deed in which the party conveying the property (the ?Grantor?) warrants and guarantees to the party receiving the conveyance (the ?Grantee?) that the title to the property he is conveying is good and unencumbered as against all persons.
The basic requirements of a valid deed are (1) written instrument, (2) competent grantor, (3) identity of the grantee, (4) words of conveyance, (5) adequate description of the land, (6) consideration, (7) signature of grantor, (8) witnesses, and (9) delivery of the completed deed to the grantee.
A South Carolina general warranty deed is used to convey the title of real property from a seller to a buyer in South Carolina. This type of deed comes with a guarantee that the seller has the legal right and authority to sell the property.
What Are the Steps to Transfer a Deed Yourself? Retrieve your original deed.Get the appropriate deed form.Draft the deed.Sign the deed before a notary.Record the deed with the county recorder.Obtain the new original deed.
A deed is a legal instrument that evidences legal ownership of a parcel of real property, which includes land and any buildings on the land. 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.
Non-Warranty Deeds In a Non-Warranty or Quitclaim Deed, the seller merely is giving the buyer whatever rights, if any, that the seller has in the property and the seller makes no warranties of any nature about the seller's rights in the property.
A North Carolina special warranty deed is used to convey property from a grantor (seller) to a grantee (buyer) with a limited guarantee that there are no liens or encumbrances on the title during the grantor's ownership. Although, the deed does not guarantee clean title from past owners.
A general warranty deed protects the grantee against any title defects or claims arising at any point in time. Whereas, a special warranty deed only protects the grantee against title defects arising from the actions or omissions of the grantor during its ownership.
A general warranty deed must include the following to be valid: The name and address of the seller (called the grantor) The name and address of the buyer (called the grantee) A legal description of the property (found on the previous deed) A statement that the grantor is transferring the property to the grantee.