A Philadelphia Pennsylvania Warranty Deed from Corporation to Husband and Wife is a legal document that signifies the transfer of real estate ownership rights from a corporation to a married couple. This type of deed is commonly used when a corporation wishes to sell property to a husband and wife jointly, ensuring a warranty of title to the buyers. Such a warranty ensures that the title is clear and free from any undisclosed encumbrances or defects. The Philadelphia area has different types of warranty deeds, each serving specific purposes based on the requirements of the parties involved. Some variations of Philadelphia Pennsylvania Warranty Deed from Corporation to Husband and Wife include: 1. General Warranty Deed: This variant provides the most comprehensive protection for the husband and wife as it guarantees the title against any claims, both past, and future. The corporation assumes full responsibility for defending against any claims that may arise. 2. Special Warranty Deed: Similar to a general warranty deed, a special warranty deed guarantees the title but limits the corporation's responsibility to issues that occurred only during their ownership. This means that any issues or defects that existed prior to the corporation's ownership are not covered. 3. Quitclaim Deed: A quitclaim deed transfers the corporation's interest in the property to the husband and wife without any warranty or guarantee of title. It merely transfers whatever interest the corporation has, leaving the husband and wife at risk of undisclosed defects or claims. When preparing a Philadelphia Pennsylvania Warranty Deed from Corporation to Husband and Wife, it is essential to consult with a qualified real estate attorney who can guide you through the process and ensure compliance with local laws and regulations. This legal professional will ensure that the transfer is executed correctly, protecting the interests of both the corporation and the husband and wife. Furthermore, it is vital to conduct a thorough title search and examination to uncover any potential issues or liens on the property before finalizing the transaction.
Philadelphia Pennsylvania Warranty Deed from Corporation to Husband and Wife
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A general warranty deed is the most common type of warranty deed in the United States. It offers the highest level of protection to the buyer because it guarantees that there are absolutely no problems with the home ? even dating back to prior property owners.
General warranty deeds give the grantee the most protection, special warranty deeds give the grantee more limited protection, and a quitclaim deed gives the grantee the least protection under the law.
To transfer property in Pennsylvania, you'll need to prepare and execute a deed and record it in the county where the property is located. If the transfer was in exchange for money, you'll have to pay transfer tax.
A Warranty Deed is the best of the best. It protects you from all future and past issues with property title and any outstanding debts or liens.
If you've recently married and already own a home or other real estate, you may want to add your new spouse to the deed for your property so the two of you own it jointly. To add a spouse to a deed, all you have to do is literally fill out, sign and record a new deed in your county recorder's office.
The recording charge is set by the county and we charge a administative fee. For counties from Erie, Elk, Franklin and Centre to Bucks, Berks, and Butler, the charge for a deed transfer across Pennsylvania is $700, with the sole exception of Philadelphia, which is $800. How long does it take?
To add, remove, or change a name on a deed, have a lawyer, title company, or other real estate professional prepare the deed. Then, record the new deed with the Department of Records. Note: We recommend that you do not prepare a deed on your own. We also recommend that you get title insurance.
The General Warranty Deed A general warranty deed provides the highest level of protection for the buyer because it includes significant covenants or warranties conveyed by the grantor to the grantee.
To add, remove, or change a name on a deed, have a lawyer, title company, or other real estate professional prepare the deed. Then, record the new deed with the Department of Records. Note: We recommend that you do not prepare a deed on your own. We also recommend that you get title insurance.
To change, add or remove a name on your deed a new deed needs to be recorded reflecting the change. Many people think they can come into the office and change the present recorded deed with a form, but that is not the case. Once a deed is recorded it cannot be changed.