Full question:
On a warranty deed can a person who is, a trustee or a sucessor, along with a corporation can that position be leagally passed down or controlled by blood relative, if its a legal document?
- Category: Real Property
- Subcategory: Deeds
- Date:
- State: Florida
Answer:
A trustee or authorized agent of a corporation can sign or accept a deed to transfer property. However, the appointment of a trustee or corporate officer is governed by documents other than a deed. For instance, a trust document may designate a successor trustee or allow the current trustee to appoint one. In corporations, appointments are typically made through a board resolution.
A deed itself is a written document that transfers ownership or interest in real property. It must describe the property, identify the grantor (the person transferring the property) and the grantee (the person receiving the property), and be signed and notarized by the grantor. To be valid, a deed must be delivered and accepted. Delivery is usually assumed if the grantee possesses the deed, and acceptance can be indicated by actions or words showing intent.
Deeds must be recorded with the county recorder to serve as evidence of ownership. It's common to add or remove names from a deed, such as those of family members. However, removing someone from a deed requires their approval, meaning they must sign and notarize the deed.
There are two main types of deeds: a warranty deed, which guarantees that the grantor owns the title, and a quitclaim deed, which transfers only the interest the grantor has without warranties. A quitclaim deed is often used among family members or to clear title issues.
Joint tenancy allows two or more individuals to own property together, where the surviving joint tenant automatically inherits the property upon the death of another joint tenant. State laws govern joint tenancy creation. Joint tenancy properties pass outside of probate but can be severed to become part of an individual’s estate.
Tenants in common hold an undivided interest in property without the right of survivorship. Upon a tenant's death, their interest must be administered through the court. Unlike joint tenancy, tenants in common can sell or will their interest separately.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.