This form is a Special Warranty Deed where the Grantor is a limited liability company and the Grantee is a Trust. Grantor conveys and specially warrants the described property to the Grantee. The Grantor only warrants and will defend the property only as to claims of persons claiming by, through or under Grantor, but not otherwise. This deed complies with all state statutory laws.
Downey California Special Warranty Deed — Limited Liability Company to a Trust is a legal document that facilitates the transfer of property ownership from a limited liability company (LLC) to a trust. This type of deed provides certain assurances and restrictions to protect both parties involved in the transfer. Special Warranty Deed: A special warranty deed guarantees that the granter (the LLC) has the legal right to transfer ownership of the property but only warrants against any title defects that occurred during the time the granter owned the property. Limited Liability Company (LLC): An LLC is a legal entity that provides liability protection for its owners or members. In the context of this special warranty deed, an LLC is the granter that holds ownership of the property. Trust: A trust is a legal arrangement where one party, known as the granter, transfers ownership of assets (such as property) to another party, known as the trustee. The trustee holds and manages the assets for the benefit of one or more beneficiaries. There are various types of Downey California Special Warranty Deed — Limited Liability Company to a Trust, including: 1. Single-member LLC to Trust: This type of special warranty deed involves the transfer of property from a single-member LLC to a trust. The LLC, which owns the property, conveys the ownership to the trust with certain warranties limited to the period of LLC ownership. 2. Multi-member LLC to Trust: In this scenario, a multi-member LLC transfers property ownership to a trust. The LLC, with multiple members, executes the special warranty deed to convey the property to the trust under certain warranties. 3. Living Trust LLC Transfer: This type of special warranty deed involves the transfer of property owned by an LLC to a living trust. This transfer helps in estate planning or asset protection as the property ownership is held by the trust rather than the LLC. 4. Revocable Trust LLC Transfer: Here, an LLC transfers property ownership to a revocable trust, allowing the granter to retain control over the trust assets during their lifetime. This transfer offers flexibility in managing and distributing property within the trust. In summary, the Downey California Special Warranty Deed — Limited Liability Company to a Trust is a legally binding document used for transferring property ownership from an LLC to a trust. It provides limited warranties against any title defects occurring during the period of LLC ownership. Different types of such deeds include single-member LLC to trust, multi-member LLC to trust, living trust LLC transfer, and revocable trust LLC transfer.
