This Quitclaim Deed is used where the Grantors are two individuals and the Grantee is a limited liability company. Grantors convey and quitclaim the described property to Grantee less and except all oil, gas and minerals, on and under the property owned by Grantors, if any, which are reserved by Grantors. This form complies with all state statutory laws.
A Seattle Washington Quitclaim Deed by Two Individuals to LLC is a legally binding document used to transfer property ownership from two individuals to a limited liability company (LLC) in Seattle, Washington. This type of deed is commonly used when property owners want to transfer their ownership interests to an LLC, providing the company with full rights to the property. A quitclaim deed is a relatively simple and straightforward transfer of ownership, without any warranties or guarantees regarding the property's title. It essentially conveys the granter's interests, if any, in the property to the grantee, without making any claims about the title's validity or ensuring that there are no existing liens or encumbrances. In the context of Seattle Washington, there may be various types of Quitclaim Deeds used when transferring ownership from individuals to an LLC. Some common types include: 1. General Seattle Washington Quitclaim Deed by Two Individuals to LLC: This is the most basic form of quitclaim deed used to transfer ownership of a property from two individuals to an LLC in Seattle, without specifying any additional terms or conditions. 2. Seattle Washington Quitclaim Deed with Covenants by Two Individuals to LLC: This type of quitclaim deed includes additional covenants, which are legally binding promises made by the granter to the grantee regarding the property's title. It ensures that the granter has a valid ownership interest in the property and guarantees against any claims arising from previous ownership. 3. Seattle Washington Quitclaim Deed with Distribution Rights by Two Individuals to LLC: This type of quitclaim deed can be used when the two individuals transferring the property also want to specify the distribution of ownership rights within the LLC. It allows them to define the percentage of ownership for each individual and outline any specific conditions or restrictions related to their shares. 4. Seattle Washington Quitclaim Deed with Indemnity by Two Individuals to LLC: This quitclaim deed includes an indemnity clause, which protects the grantee (the LLC) from any financial loss or liability arising from potential title defects or claims against the property, which may have originated during the granter's ownership. In summary, a Seattle Washington Quitclaim Deed by Two Individuals to LLC is a legal document used to transfer property ownership from two individuals to an LLC in Seattle. The different types of quitclaim deeds may include variations such as those with covenants, distribution rights, or indemnity clauses, providing additional protections or specifying ownership conditions within the LLC.
