[// GUIDANCE: This template is drafted for use in North Carolina only. Verify all bracketed information, legal descriptions, and execution formalities prior to closing and recording. Excise-tax computation, font size, margin, and paper requirements vary by county; confirm local Register of Deeds specifications.]
GENERAL WARRANTY DEED
(North Carolina – N.C. Gen. Stat. Chs. 47 & 105)
Prepared by and Return to:
[NAME OF DRAFTING ATTORNEY OR TITLE AGENT]
[ADDRESS]
[BAR NUMBER (if applicable)]
Parcel Identifier No. (PIN): [____]
Mail After Recording To: [GRANTEE NAME & ADDRESS]
Excise Tax (Revenue Stamps)¹: $[__]
Date: [____, 20__]
TABLE OF CONTENTS
- Document Header
- Definitions
- Operative Conveyance
- Representations & Warranties
- Covenants & Restrictions
- Default & Remedies
- Risk Allocation
- Dispute Resolution
- General Provisions
- Execution & Acknowledgment
1. DOCUMENT HEADER
THIS GENERAL WARRANTY DEED (this “Deed”) is made and entered into as of the [Effective Date], by and between [Grantor Legal Name], a [state & entity type] (“Grantor”), whose address is [____], and [Grantee Legal Name], a [state & entity type] (“Grantee”), whose address is [____] (each a “Party,” and collectively, the “Parties”).
RECITALS
A. Grantor is lawfully seized and possessed of the real property more particularly described herein (the “Property”).
B. Grantee has paid to Grantor the sum of [Consideration Amount] Dollars ($[__]) and other good and valuable consideration (the “Consideration”), the receipt and sufficiency of which are acknowledged.
C. The Parties desire to transfer title to the Property pursuant to the terms and conditions of this Deed, subject only to permitted exceptions set forth herein.
NOW, THEREFORE, for and in consideration of the foregoing, the mutual covenants herein, and the Consideration, Grantor hereby conveys the Property to Grantee in fee simple with general warranty covenants as follows.
2. DEFINITIONS
“Applicable Law” – All federal, state, and local statutes, regulations, ordinances, and common-law principles governing the conveyance, ownership, and recording of real property in North Carolina, including without limitation N.C. Gen. Stat. §§ 47-17 et seq. (conveyances) and §§ 105-228.28 et seq. (excise tax).
“Consideration” – The total monetary or other value paid by Grantee to Grantor for the Property, as stated in the Recitals and used for calculating the excise tax.
“Deed” – This instrument, together with all exhibits, schedules, and acknowledgments.
“Permitted Exceptions” – Only those encumbrances, easements, restrictions, and matters of record expressly listed in Section 5.1 of this Deed.
“Property” – The real property located in [County Name] County, North Carolina, and legally described in Exhibit A attached hereto, together with all appurtenances, improvements, and hereditaments thereon.
3. OPERATIVE CONVEYANCE
3.1 Grant. Grantor hereby grants, bargains, sells, conveys, and warrants unto Grantee, and Grantee’s heirs, successors, and assigns, in fee simple, the Property, subject to the Permitted Exceptions.
3.2 Consideration; Revenue Stamps. The Consideration paid equals or exceeds the amount shown in the excise-tax computation on page 1, and Grantor shall cause the appropriate North Carolina excise-tax stamps to be affixed to this Deed at or prior to recording.
3.3 Conditions Precedent. Delivery of this Deed is conditioned upon full payment of the Consideration and compliance with all obligations expressly stated in any purchase agreement between the Parties dated [__] (the “Purchase Agreement”). In the event of conflict between this Deed and the Purchase Agreement, the terms of this Deed control solely with respect to title.
3.4 Possession. Possession of the Property shall be delivered to Grantee upon recordation, free of any parties in possession not disclosed in writing to Grantee prior to closing.
4. REPRESENTATIONS & WARRANTIES
4.1 Grantor’s Representations. Grantor represents and warrants that, as of the Effective Date and continuing through recordation:
(a) Authority. Grantor is duly organized, validly existing, and in good standing under the laws of its state of formation and has full power and authority to execute and deliver this Deed.
(b) Title. Grantor is seized of indefeasible fee-simple title to the Property.
(c) No Further Conveyances. Grantor has not previously conveyed the Property or any interest therein, except as may be disclosed in the Permitted Exceptions.
(d) No Litigation. To Grantor’s knowledge, no litigation or condemnation proceeding affecting the Property is pending or threatened.
4.2 Survival. The representations and warranties contained in this Section survive delivery and recordation and run with title for the benefit of Grantee and Grantee’s successors and assigns.
5. COVENANTS & RESTRICTIONS
5.1 Permitted Exceptions. Title is conveyed subject only to the following (collectively, the “Permitted Exceptions”):
(a) Ad valorem real property taxes not yet due and payable;
(b) Easements, covenants, and restrictions of record as of the Effective Date, specifically: [list instrument book/page numbers];
(c) Matters that would be disclosed by an accurate survey of the Property.
5.2 Warranty Covenants. Grantor covenants to Grantee that Grantor:
(i) is seized of the Property in fee simple;
(ii) has the right to convey the same;
(iii) the Property is free from all encumbrances other than the Permitted Exceptions;
(iv) Grantee shall quietly and peaceably hold the Property; and
(v) Grantor will execute such further assurances as may be reasonably required.
These covenants are made in accordance with N.C. Gen. Stat. § 47-1 et seq. and shall bind Grantor and inure to the benefit of Grantee.
6. DEFAULT & REMEDIES
6.1 Events of Default. A Party’s failure to comply with any material covenant, representation, or obligation herein constitutes an “Event of Default.”
6.2 Notice and Cure. The non-defaulting Party must provide written notice describing the default. The defaulting Party shall have ten (10) days to cure monetary defaults and thirty (30) days to cure non-monetary defaults, subject to extension if cure is commenced and diligently pursued.
6.3 Remedies. If an Event of Default is uncured within the applicable period, the non-defaulting Party may:
(a) Seek specific performance or reformation;
(b) Pursue damages capped as provided in Section 7.2;
(c) Invoke quiet-title or ejectment proceedings; and/or
(d) Recover reasonable attorneys’ fees and costs, which are hereby declared to be an element of damages.
7. RISK ALLOCATION
7.1 Indemnification. Grantor shall indemnify, defend, and hold Grantee harmless from all losses, costs, and claims (including reasonable attorneys’ fees) arising from any breach of Grantor’s representations, warranties, or covenants herein.
7.2 Limitation of Liability. Except for fraud or intentional misrepresentation, the aggregate liability of either Party under this Deed is limited to the Consideration actually paid plus statutory interest.
7.3 Force Majeure. No Party is liable for delays caused by events beyond its reasonable control, excluding monetary obligations.
8. DISPUTE RESOLUTION
8.1 Governing Law. This Deed is governed by and construed in accordance with the laws of the State of North Carolina, without regard to conflict-of-law principles.
8.2 Forum Selection. Any suit, action, or proceeding arising out of or relating to this Deed shall be brought exclusively in the Superior Court or District Court of the county where the Property is located.
8.3 Arbitration & Jury Trial. Arbitration is expressly excluded, and the Parties do not waive the right to a jury trial.
8.4 Injunctive Relief. Nothing herein limits either Party’s right to seek injunctive or equitable relief, including quiet-title actions.
9. GENERAL PROVISIONS
9.1 Entire Agreement. This Deed, together with Exhibit A and any excise-tax declaration affixed hereto, constitutes the entire agreement of the Parties regarding conveyance of the Property and supersedes all prior oral or written agreements.
9.2 Amendment. This Deed may be modified only by a writing executed with the same formalities as this Deed.
9.3 Severability. If any provision is held unenforceable, the remainder shall be enforced to the fullest extent permitted.
9.4 Successors and Assigns. This Deed binds and inures to the benefit of the Parties and their respective heirs, successors, and assigns.
9.5 Counterparts; Electronic Signatures. This Deed may be executed in counterparts, each of which is deemed an original. Signatures transmitted electronically or by facsimile are deemed original signatures for all purposes.
10. EXECUTION & ACKNOWLEDGMENT
IN WITNESS WHEREOF, Grantor has executed this General Warranty Deed as of the Effective Date.
GRANTOR:
[GRANTOR NAME]
By: ______
Name: [_]
Title: [_]
[Corporate Seal, if any]
[// GUIDANCE: Repeat signature blocks if multiple Grantors.]
STATE OF NORTH CAROLINA
COUNTY OF [____]
I, the undersigned Notary Public of said County and State, hereby certify that [Grantor Name], personally appeared before me this day and acknowledged the due execution of the foregoing instrument.
Witness my hand and official seal, this the _ day of _, 20__.
Notary Public
My commission expires: __
[// GUIDANCE: Use the following acknowledgment if Grantor is a LLC, corporation, or other entity.]
STATE OF NORTH CAROLINA
COUNTY OF [____]
I, the undersigned Notary Public of said County and State, certify that [Name of Authorized Signatory], [Title] of [Entity Grantor Name], a [state] [entity type], personally came before me and acknowledged that he/she is authorized to act on behalf of the entity and that he/she executed the foregoing instrument on its behalf.
Witness my hand and official seal, this the _ day of _, 20__.
Notary Public
My commission expires: __
Acceptance by Grantee
Grantee hereby accepts delivery of this Deed and agrees to be bound by the covenants herein.
[GRANTEE NAME]
By: ______
Name: [_]
Title: [_]
EXHIBIT A
(Legal Description of the Property)
[Insert metes-and-bounds, lot and block, or other legally sufficient description. Reference recorded plat(s) if applicable.]
¹ North Carolina excise tax is presently $1.00 per $500.00 (or fractional part) of the Consideration. See N.C. Gen. Stat. § 105-228.28. Confirm the current rate prior to closing.
[// GUIDANCE: Confirm page-margin, font-size (minimum 10-point), and “Drafted By” legends required by N.C. Gen. Stat. § 161-14(b) and § 47-17.1. Include any county-specific cover sheets as applicable.]