Raleigh North Carolina General Warranty Deed from Five Individuals to Five Individuals

State:
North Carolina
City:
Raleigh
Control #:
NC-027-78
Format:
Word; 
Rich Text
Instant download

Description

This form is a General Warranty Deed where the Grantors are five individuals and the Grantees are five individuals. Grantors convey and generally warrant the described property to the Grantees. This deed complies with all state statutory laws.

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  • Preview General Warranty Deed from Five Individuals to Five Individuals
  • Preview General Warranty Deed from Five Individuals to Five Individuals
  • Preview General Warranty Deed from Five Individuals to Five Individuals
  • Preview General Warranty Deed from Five Individuals to Five Individuals
  • Preview General Warranty Deed from Five Individuals to Five Individuals
  • Preview General Warranty Deed from Five Individuals to Five Individuals

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FAQ

Yes you can. This is called a transfer of equity but you will need the permission of your lender.

Adding someone to your house deed requires the filing of a legal form known as a quitclaim deed. When executed and notarized, the quitclaim deed legally overrides the current deed to your home. By filing the quitclaim deed, you can add someone to the title of your home, in effect transferring a share of ownership.

You will need to have the quitclaim deed notarized with the signatures of you and your spouse. Once this is done, the quitclaim deed replaces your former deed and the property officially is in both of your names. You must record the deed at your county office.

B. The general warranty deed provides the buyer with the greatest protection. A bargain and sale deed carries no warranties against liens or other encumbrances, but assures that the grantor has the right to sell or convey the property.

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 buyer, or grantee, of a property benefits the most from obtaining a warranty deed. Through the recording of a warranty deed, the seller is providing assurances to the buyer should anything unexpected happen.

12. Who benefits the most from recording a warranty deed? D. Explanation: The grantee is the one who has acquired an interest in the land, and she is the one who benefits the most from recording the deed to provide constructive (legal) notice of that interest.

?Adding someone to a deed? means transferring ownership to that person. The transfer of ownership can occur during life (with a regular quitclaim deed, for example) or at death (using a lady bird deed, transfer-on-death-deed, or life estate deed).

Can I prepare my own deed and have it recorded? 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 advise of legal counsel.

As a homeowner, you have the ability to execute a quitclaim deed to change ownership, and you don't need to refinance the mortgage loan to file a quitclaim deed. Filing a quitclaim deed will change only the property's ownership and title, not anything regarding the loan.

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Raleigh North Carolina General Warranty Deed from Five Individuals to Five Individuals