Fill and Sign the Iowa Warranty Deed 497304880 Form

© 2016 - U.S. Legal Forms, Inc.       IOWA WARRANTY DEED [Two Individuals to Two Individuals] Control Number: IA-020-78 I. TIPS ON COMPLETING THE FORMS The form(s) in this packet may contain “form fields” created using Microsoft Word or Adobe Acrobat (“.pdf” format). “Form fields” facilitate completion of the forms using your computer. They do not limit your ability to print the form “in blank” and complete with a typewriter or by hand. It is also helpful to be able to see the location of the form fields. Go to the View menu, click on Toolbars, and then select Forms. This will open the Forms toolbar. Look for the button on the Forms toolbar that resembles a shaded letter “a”. Click this button and the form fields will be visible. By clicking on the appropriate form field, you will be able to enter the needed information. In some instances, the form field and the line will disappear after information is entered. In other cases, it will not. The form was created to function in this manner. II. 428A.2 Exceptions. The tax imposed by this chapter shall not apply to: 1. Any executory contract for the sale of land under which the vendee is entitled to or does take possession thereof, or any assignment or cancellation thereof. 2. Any instrument of mortgage, assignment, extension, partial release, or satisfaction thereof. 3. Any will. 4. Any plat. 5. Any lease. 6. Any deed, instrument, or writing in which the United States or any agency or instrumentality thereof or the state of Iowa or any agency, instrumentality, or governmental or political subdivision thereof is the grantor, assignor, transferor, or conveyor; and any deed, instrument or writing in which any of such unit of government is the grantee or assignee where there is no consideration. 7. Deeds for cemetery lots. 8. Deeds which secure a debt or other obligation, except those included in the sale of real property. 9. Deeds for the release of a security interest in property excepting those pertaining to the sale of real estate. 10. Deeds which, without additional consideration, confirm, correct, modify, or supplement a deed previously recorded. 11. Deeds between husband and wife, or parent and child, without actual consideration. A cancellation of indebtedness alone which is secured by the property being transferred and which is not greater than the fair market value of the property being transferred is not actual consideration within the meaning of this subsection. 12. Tax deeds. 13. Deeds of partition where the interest conveyed is without consideration. However, if any of the parties take shares greater in value than their undivided interest a tax is due on the greater values, computed at the rate set out in section 428A.1. 14. The making or delivering of instruments of transfer resulting from a corporate merger, consolidation, or reorganization or a merger, consolidation, or reorganization of a limited liability company under the laws of the United States or any state thereof, where such instrument states such fact on the face thereof. 15. Deeds between a family corporation, partnership, limited partnership, limited liability partnership, or limited liability company and its stockholders, partners, or members for the purpose of transferring real property in an incorporation or corporate dissolution or the organization or dissolution of a partnership, limited partnership, limited liability partnership, or limited liability company under the laws of this state, where the deeds are given for no actual consideration other than for shares or for debt securities of the corporation, partnership, limited partnership, limited liability partnership, or limited liability company. For purposes of this subsection, a family corporation, partnership, limited partnership, limited liability partnership, or limited liability company is a corporation, partnership, limited partnership, limited liability partnership, or limited liability company where the majority of the voting stock of the corporation, or of the ownership shares of the partnership, limited partnership, limited liability partnership, or limited liability company is held by and the majority of the stockholders, partners, or members are persons related to each other as spouse, parent, grandparent, lineal ascendants of grandparents or their spouses and other lineal descendants of the grandparents or their spouses, or persons acting in a fiduciary capacity for persons so related and where all of its stockholders, partners, or members are natural persons or persons acting in a fiduciary capacity for the benefit of natural persons. 16. Deeds for the transfer of property or the transfer of an interest in property when the deed is executed between former spouses pursuant to a decree of dissolution of marriage. 17. Deeds transferring easements. 18. Deeds giving back real property to lienholders in lieu of forfeitures or foreclosures. 19. Deeds executed by public officials in the performance of their official duties. 20. Deeds transferring distributions of assets to heirs at law or devisees under a will. 21. Deeds in which the consideration is five hundred dollars or less. II. DESIGNATING HOW THE GRANTEES WILL HOLD THE PROPERTY: A. In the State of Iowa, real property can be held by more than one person (concurrent estates) in the following ways: 1. If the Grantees ARE NOT married to each other, they can hold the property as: a. Tenants in Common: a type of concurrent estate in which each party owns an undivided interest in the property that will pass to their heirs when the tenant in common dies. Generally their shares are “equal” but may differ in size. b. Joint Tenants with the Right of Survivorship ( JTWROS) : is a type of concurrent estate in which co-owners have a right of survivorship , meaning that if one owner dies, that owner's interest in the property will pass to the surviving owner or owners by operation of law, and avoiding probate. 2. If the Grantees ARE married to each other, they can hold the property as: a. Tenants in Common – See above b. Joint Tenants with the Right of Survivorship – See above 3. In the attached deed, the preparer will need to indicate how the Grantees will hold the property: as Tenants in Common or Joint Tenants with Right of Survivorship. B. For additional information on the above see the definitions at: http://lawdigest.uslegal.com/ C. For example: “as Tenants in Common ,” III. DISCLAIMER These materials were developed by U.S. Legal Forms, Inc. based upon statutes and forms for the State of Iowa. All information and Forms are subject to this Disclaimer: All forms in this package are provided without any warranty, express or implied, as to their legal effect and completeness. Please use at your own risk. If you have a serious legal problem, we suggest that you consult an attorney in your state. U.S. Legal Forms, Inc. does not provide legal advice. The products offered by U.S. Legal Forms (USLF) are not a substitute for the advice of an attorney. THESE MATERIALS ARE PROVIDED “AS IS” WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND INCLUDING WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OF INTELLECTUAL PROPERTY, OR FITNESS FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL U.S. LEGAL FORMS, INC. OR ITS AGENTS OR OFFICERS BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OR PROFITS, BUSINESS INTERRUPTION, LOSS OF INFORMATION) ARISING OUT OF THE USE OF OR INABILITY TO USE THE MATERIALS, EVEN IF U.S. LEGAL FORMS, INC. HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. Document Cover Sheet Type of Document:             Preparer Information : (Individual’s Name, Street Address, City, Zip Phone)       Tax Payer Information : (Individual/Company Name, Street Address, City, Zip Phone)       Return Document to : (Individual/Company Name, Street Address, City, Zip Phone) Grantors:                         Grantees:                         Legal Description:       Book and Page Reference:       WARRANTY DEED (Two Individuals to Two Individuals) KNOW ALL MEN BY THESE PRESENTS THAT: FOR VALUABLE CONSIDERATION OF TEN DOLLARS ($10.00), and other good and valuable consideration, cash in hand paid, the receipt and sufficiency of which is hereby acknowledged,       and      , hereinafter referred to as “Grantors”, do hereby sell, convey, and warrant unto       and       , individuals, as       , hereinafter “Grantees”, the following lands and property, together with all improvements located thereon, lying in the County of       , State of Iowa, to-wit:       Warranty Deed Page 1 of 3 Prior instrument reference: Book ______ , Page ______ , Document No. ______ , of the Recorder of ______________________ County, Iowa. SUBJECT to all easements, rights-of-way, protective covenants and mineral reservations of record, if any. GRANTORS do for Grantors and Grantor’s, personal representatives, executors and assigns forever hereby covenant with GRANTEES that Grantors are lawfully seized in fee simple of said premises; that the premises are free from all encumbrances, unless otherwise noted above; that Grantors have a good right to sell and convey the same as aforesaid; and to forever warrant and defend the title to the said lands against all claims whatever. WORDS AND PHRASES HEREIN, including acknowledgment hereof, shall be construed as in the singular or plural number, and as masculine or feminine gender, according to the context. IN WITNESS WHEREOF, this deed was executed on the day and year set forth below. (1 st Grantor’s Signature) (2 nd Grantor’s Signature)             Print Name Print Name State of Iowa , County of       On this       day of       , 20       , before me, the undersigned, a Notary Public in and for said state, personally appeared       , to me known to be the identical person named in and who executed the within and foregoing instrument, and acknowledged that he/she executed the same as his/her voluntary act and deed. Signature Warranty Deed Page 2 of 3       Title of Officer (Seal, if any) State of Iowa , County of       On this       day of       , 20       , before me, the undersigned, a Notary Public in and for said state, personally appeared       , to me known to be the identical person named in and who executed the within and foregoing instrument, and acknowledged that he/she executed the same as his/her voluntary act and deed. Signature       Title of Officer (Seal, if any) Warranty Deed Page 3 of 3