This form is a Grant Deed where the Grantor is a Family Limited Partnership and the Grantee an individual. Grantor conveys and warrants the described property to the Grantee. This deed complies with all state statutory laws.
A San Jose California Grant Deed from Family Limited Partnership to an Individual is a legal document that transfers ownership of a property from a Family Limited Partnership (FLP) to an individual in the city of San Jose, California. This type of deed is commonly used when there is a need to transfer real estate assets within a family or to an individual beneficiary. Keywords: — San Jose: Refers to the specific location where the grant deed is being executed, in this case, the City of San Jose, California. — California: Specifies the state where the grant deed is being executed, which in this case is California. — Grant Deed: A form of deed that guarantees the granter (Family Limited Partnership) holds the right to transfer ownership of the property and that no other parties have a legal claim to it. — Family Limited Partnership: A legal entity created by family members to hold and manage assets, including real estate. It provides various protections and tax advantages. — Individual: Refers to a single person to whom the ownership of the property is being transferred through the grant deed. Different types: — General Grant Deed: This type of grant deed transfers the property from the FLP to the individual "granter" without any warranties or guarantees of title by the FLP. It implies that the FLP has the right to transfer ownership but does not guarantee that there are no other existing claims or encumbrances on the property. — Special Warranty Grant Deed: This grant deed provides limited warranties, where the FLP guarantees that it has not done anything to harm the title to the property during the time it held ownership. However, it does not provide guarantees of the title status before the FLP acquired the property. — Quitclaim Deed: Although not technically a grant deed, a quitclaim deed may also be used to transfer property from an FLP to an individual. This type of deed provides the least amount of protection to the grantee, as it only transfers the interest the granter had in the property, without any warranties or guarantees. Overall, a San Jose California Grant Deed from Family Limited Partnership to an Individual is a legal document used to transfer property ownership from an FLP to an individual in the city of San Jose, California. The specific type of grant deed used may vary based on the level of protection and guarantees provided to the grantee.A San Jose California Grant Deed from Family Limited Partnership to an Individual is a legal document that transfers ownership of a property from a Family Limited Partnership (FLP) to an individual in the city of San Jose, California. This type of deed is commonly used when there is a need to transfer real estate assets within a family or to an individual beneficiary. Keywords: — San Jose: Refers to the specific location where the grant deed is being executed, in this case, the City of San Jose, California. — California: Specifies the state where the grant deed is being executed, which in this case is California. — Grant Deed: A form of deed that guarantees the granter (Family Limited Partnership) holds the right to transfer ownership of the property and that no other parties have a legal claim to it. — Family Limited Partnership: A legal entity created by family members to hold and manage assets, including real estate. It provides various protections and tax advantages. — Individual: Refers to a single person to whom the ownership of the property is being transferred through the grant deed. Different types: — General Grant Deed: This type of grant deed transfers the property from the FLP to the individual "granter" without any warranties or guarantees of title by the FLP. It implies that the FLP has the right to transfer ownership but does not guarantee that there are no other existing claims or encumbrances on the property. — Special Warranty Grant Deed: This grant deed provides limited warranties, where the FLP guarantees that it has not done anything to harm the title to the property during the time it held ownership. However, it does not provide guarantees of the title status before the FLP acquired the property. — Quitclaim Deed: Although not technically a grant deed, a quitclaim deed may also be used to transfer property from an FLP to an individual. This type of deed provides the least amount of protection to the grantee, as it only transfers the interest the granter had in the property, without any warranties or guarantees. Overall, a San Jose California Grant Deed from Family Limited Partnership to an Individual is a legal document used to transfer property ownership from an FLP to an individual in the city of San Jose, California. The specific type of grant deed used may vary based on the level of protection and guarantees provided to the grantee.
