Paterson New Jersey Warranty Deed from Corporation to Two Individuals

• Category: New Jersey Real Estate - Deeds - Warranty
• State: New Jersey
• City: Paterson
• Control #: NJ-014-78
• Format: Word; Rich Text

Description

This Warranty Deed from Corporation to Two Individuals form is a Warranty Deed where the Grantor is a corporation and the Grantees are two individuals. Grantors conveys and warrants the described property to Grantees 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 Paterson New Jersey Warranty Deed from a Corporation to Two Individuals is a legal document that transfers ownership of a property from a corporation to two individual recipients within the Paterson area, ensuring the transfer is backed by a warranty of clear title. This type of deed provides significant protection to the individuals by guaranteeing that the corporation has the legal right to transfer the property and that it is free from any liens or encumbrances. There are two main types of Paterson New Jersey Warranty Deed from Corporation to Two Individuals: 1. General Warranty Deed: This type of deed offers the highest level of protection to the individuals. It guarantees that the corporation has an unclouded title to the property and ensures that the corporation will defend against any future claims on the property by third parties. General Warranty Deeds often include covenants, such as the covenant of basin (the corporation has legal ownership), the covenant of right to convey (the corporation has the authority to transfer ownership), the covenant against encumbrances (the property is free from any outstanding liens), the covenant of quiet enjoyment (the individuals will not be disturbed in their ownership), and the covenant of warranty (the corporation will defend against any claims). 2. Special Warranty Deed: This type of deed provides a limited warranty of title to the individuals. It guarantees that the corporation has not created any defects in title during its ownership period. However, it does not cover any defects or claims that might have arisen before the corporation acquired the property. Special Warranty Deeds are commonly used in commercial transactions. When drafting a Paterson New Jersey Warranty Deed, it is essential to include all pertinent information such as the legal description of the property, the names and addresses of the individuals receiving ownership, the consideration (monetary value) for the transfer, and the corporation's details. The deed should be signed and notarized by authorized representatives of the corporation and the individuals, and then filed with the appropriate county registrar. Overall, a Paterson New Jersey Warranty Deed from Corporation to Two Individuals is a critical legal document that ensures the lawful transfer of property ownership while providing protection to the individuals against any potential claims or encumbrances.

A Paterson New Jersey Warranty Deed from a Corporation to Two Individuals is a legal document that transfers ownership of a property from a corporation to two individual recipients within the Paterson area, ensuring the transfer is backed by a warranty of clear title. This type of deed provides significant protection to the individuals by guaranteeing that the corporation has the legal right to transfer the property and that it is free from any liens or encumbrances. There are two main types of Paterson New Jersey Warranty Deed from Corporation to Two Individuals: 1. General Warranty Deed: This type of deed offers the highest level of protection to the individuals. It guarantees that the corporation has an unclouded title to the property and ensures that the corporation will defend against any future claims on the property by third parties. General Warranty Deeds often include covenants, such as the covenant of basin (the corporation has legal ownership), the covenant of right to convey (the corporation has the authority to transfer ownership), the covenant against encumbrances (the property is free from any outstanding liens), the covenant of quiet enjoyment (the individuals will not be disturbed in their ownership), and the covenant of warranty (the corporation will defend against any claims). 2. Special Warranty Deed: This type of deed provides a limited warranty of title to the individuals. It guarantees that the corporation has not created any defects in title during its ownership period. However, it does not cover any defects or claims that might have arisen before the corporation acquired the property. Special Warranty Deeds are commonly used in commercial transactions. When drafting a Paterson New Jersey Warranty Deed, it is essential to include all pertinent information such as the legal description of the property, the names and addresses of the individuals receiving ownership, the consideration (monetary value) for the transfer, and the corporation's details. The deed should be signed and notarized by authorized representatives of the corporation and the individuals, and then filed with the appropriate county registrar. Overall, a Paterson New Jersey Warranty Deed from Corporation to Two Individuals is a critical legal document that ensures the lawful transfer of property ownership while providing protection to the individuals against any potential claims or encumbrances.