The Greensboro North Carolina General Warranty Deed from Individual to a Trust is a legally binding document that transfers ownership of real estate from an individual to a trust. This deed provides the trust with full protection against any claims or liens on the property and ensures clear and marketable title. A General Warranty Deed offers the highest level of protection to the buyer (trust) as it guarantees that the granter (individual) holds clear title to the property and has the right to sell it. It also assures the grantee (trust) that the property is free from encumbrances, defects, or undisclosed liens, both past and present. In Greensboro, North Carolina, there are two main types of General Warranty Deeds: 1. Traditional General Warranty Deed: This type of deed is commonly used to transfer property ownership from an individual to a trust. It includes several covenants that protect the grantee, such as the covenant of basin (a guarantee that the granter holds the title to the property), the covenant of quiet enjoyment (the assurance that the grantee will not face interference or disturbance in the use of the property), the covenant of encumbrances (guaranteeing that there are no undisclosed liens), the covenant of further assurances (a promise to rectify any potential title flaws that may arise), and the covenant of warranty (the granter guarantees to defend the grantee against any possible future claims on the property). 2. Joint Tenancy with Right of Survivorship (TWOS) General Warranty Deed: This type of deed is specifically used when property ownership is transferred from an individual to a trust with joint tenants. In Greensboro, North Carolina, this deed variant grants co-owners equal rights to the property and ensures that if one co-owner passes away, their share automatically passes on to the surviving joint tenants without going through probate. When drafting a Greensboro North Carolina General Warranty Deed from Individual to a Trust, it is crucial to include accurate property descriptions, details of the individuals involved, the trust's name and address, and an acknowledgment of the granter's signature. It is highly recommended consulting a qualified real estate attorney with expertise in North Carolina laws to ensure compliance and accuracy in executing the deed. Remember, understanding and utilizing the appropriate General Warranty Deed variant is essential to secure the trust's interests and preserve the property's marketability and free transferability.
Greensboro North Carolina General Warranty Deed from Individual to a Trust
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FAQ
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.
North Carolina's transfer tax rates are straightforward ? expect to pay $1 for every $500 of the sale price. For the state's average home value of $320,291, the transfer tax would amount to $640.58.
A. North Carolina law allows you to prepare a Deed of Conveyance for any real property to which you have legal title. However, the conveyance of real property is a legal matter that should be given under and with the advice of legal counsel.
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.
Almost all instruments presented for recordation first must be acknowledged (notarized) before the Register of Deeds can record the instrument. Notary Publics are authorized by North Carolina law to perform this duty.
Signing - For a quitclaim deed to be accepted by the state of North Carolina, it must be signed by the seller of the property in the presence of a Notary Public (§ 47-38). Recording - After being notarized, this legal form should be filed with the Register of Deeds in the county where the property is located.
Signing (N.C.G.S.A. § 47-38) ? All quit claim deeds are required to be signed with the Grantor(s) being witnessed by a Notary Public.
In North Carolina, a deed of trust or mortgage acts as a conveyance of the real estate. Upon repayment of the debt or performance of the obligation, the conveyance becomes void.
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.