Ownership Deed
Ownership Deed
This Ownership Deed ("Deed") is made and entered into on [Date], by and between:
[Your Name], located at [Your Company Address] ("Current Owner")
and
[Recipient's Name], located at [Recipient's Address] ("Recipient").
WHEREAS, Current Owner is the lawful owner of the property described as follows:
I. Property Description
A single-family residential property located at 789 Pine Street, Springfield, State of California. The property is legally described as Lot 10, Block 3, Springfield Estates, as per the official plat recorded in the Office of the County Recorder of Springfield County.
AND WHEREAS, Recipient desires to acquire ownership of the aforementioned property;
NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:
II. Transfer of Ownership
The current Owner hereby transfers, conveys, and assigns to the Recipient all of the Current Owner's right, title, and interest in and to the Property, free and clear of any liens, encumbrances, or claims of third parties, effective as of the date of this Deed.
III. Acceptance of Ownership
Recipient acknowledges receipt of the Property and accepts ownership thereof, subject to all the terms and conditions set forth herein.
IV. Rights and Responsibilities
Recipient shall have all rights associated with ownership of the Property, including but not limited to the right to possess, use, and enjoy the Property. Recipient shall be responsible for all taxes, assessments, and other charges levied against the Property from the date of this Deed forward.
V. Indemnification
Each party agrees to indemnify and hold harmless the other party from and against any claims, damages, losses, liabilities, and expenses arising out of or related to any breach of this Deed by such party.
VI. Governing Law
This Deed shall be governed by and construed by the laws of [State/Country], without regard to its conflicts of law principles.
IN WITNESS WHEREOF, the parties hereto have executed this Deed as of the date first above written.
[Your Name]
[Date]
Owner
[Recipient's Name]
[Date]
Recipient
Witness 1
[Witness 1 Name]
[Date]
Witness 2
[Witness 2 Name]
[Date]
VII. Acknowledgment
On this [Date], before me, [Notary's Name], a notary public in and for the said state, personally appeared [Your Name], known to me to be the person described in and who executed the preceding instrument, and acknowledged that he/she executed the same as his/her free act and deed.
Witness my hand and official seal.
Notary Public: [NOTARY'S NAME]
My Commission Expires: [EXPIRATION DATE]
