A Wilmington North Carolina General Warranty Deed from Individual to Corporation is a legal document that transfers ownership of real property from an individual to a corporation, guaranteeing that the individual holds clear title to the property and assuming the responsibility for any potential title defects. The General Warranty Deed serves as a protection for the corporation, ensuring that it will not encounter any unexpected claims or disputes regarding the property title in the future. This type of deed offers the highest level of protection to the corporation by providing several warranties or guarantees by the individual transferring the property. The key features of a Wilmington North Carolina General Warranty Deed from Individual to Corporation include: 1. Type of Transfer: The General Warranty Deed signifies a transfer of property ownership from an individual (the granter) to a corporation (the grantee). 2. Granter's Title: The deed explicitly states that the individual granter is the lawful owner of the property and has the legal authority to transfer ownership to the corporation. 3. Warranty of Title: The individual granter guarantees that they hold clear title to the property, meaning there are no liens, encumbrances, or legal claims that could affect the corporation's ownership. 4. Covenants and Warranties: The deed includes various covenants and warranties made by the granter to the corporation. These typically comprise the following: a. Covenant of Basin: The granter assures that they legally own the property and possess the right to transfer it. b. Covenant of Right to Convey: The granter guarantees that they have the legal authority to transfer the property. c. Covenant Against Encumbrances: The granter asserts that the property is free from any liens or encumbrances, except as specifically mentioned in the deed. d. Covenant of Quiet Enjoyment: The granter promises that the corporation will have undisturbed possession and peaceful enjoyment of the property without any third-party claims. e. Covenant of Warranty: The granter warrants to defend the corporation against any lawful claims related to the title of the property. Different types of Wilmington North Carolina General Warranty Deeds from Individual to Corporation may include: 1. Residential General Warranty Deed: This type of deed is used when an individual transfers ownership of residential property to a corporation, ensuring full legal protection for the corporation. 2. Commercial General Warranty Deed: This form of deed is utilized when an individual conveys ownership of commercial property to a corporation, providing the corporation with comprehensive title assurances. 3. Industrial General Warranty Deed: When an individual transfers ownership of an industrial property to a corporation, this type of deed guarantees the highest level of title protection for the corporation. In conclusion, a Wilmington North Carolina General Warranty Deed from Individual to Corporation is an important legal document that facilitates the transfer of property ownership while safeguarding the corporation's interests by guaranteeing a clear and defect-free title.
Wilmington North Carolina General Warranty Deed from Individual to Corporation
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