Irvine California Warranty Deed from Individual, Limited Partnership or LLC is the Grantor or Grantee

Name: Irvine California Warranty Deed from Individual, Limited Partnership or LLC is the Grantor or Grantee
Brand: US Legal Forms
Rating: 4.72 (292 reviews)

Category:

California Real Estate - Deeds - Warranty

State:

California

City:

Irvine

Control #:

CA-SDEED-7

Format:

Instant download

Description

This form is a Warranty Deed where the grantor(s) and/or grantee(s) may be individuals, a limited partnership, or an LLC.

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FAQ

In real estate, a grantee is the recipient of the property, and the grantor is a person that transfers ownership rights of a property to another person. However, the specifics of their transaction may vary depending on the situation. The official documents they use, such as a deed, detail their obligations.

Both types of legal documents serve the same function of transferring ownership of real property. The fundamental difference between quitclaim deeds and grant deeds is the level of protection and warranty provided to the grantee.

The Grantor In general, a grantor is someone who transfers a property right to a grantee. In a real estate transaction, the grantor is the current holder of the property right, or in other words, the seller. The deed, which transfers ownership, is the grant.

California mainly uses two types of deeds: the ?grant deed? and the ?quitclaim deed.? Most other deeds you will see, such as the common ?interspousal transfer deed,? are versions of grant or quitclaim deeds customized for specific circumstances.

A trustee deed?sometimes called a deed of trust or a trust deed?is a legal document created when someone purchases real estate in a trust deed state, such as California (check your local laws to see what is required in your state). A trust deed is used in place of a mortgage.

In California, quitclaim deeds are commonly used between spouses, relatives, or if a property owner is transferring his or her property into his or her trust. A grant deed is commonly used in most arms-length real estate transactions not involving family members or spouses.

Today, Californians most often transfer title to real property by a simple written instrument, the grant deed. The word ?grant? is expressly designated by statute as a word of conveyance. (Civil Code Section 1092) A second form of deed is the quitclaim deed.

A quitclaim deed is a deed by which a grantor transfers only the interest the grantor has at the time the conveyance is executed. The grantor is not promising anything other than that they are giving up their own rights, if any. There are no implied warranties in connection with a quitclaim deed.

The California TOD deed form allows property to be automatically transferred to a new owner when the current owner dies, without the need to go through probate. It also gives the current owner retained control over the property, including the right to change his or her mind about the transfer.

A grant deed, also known as a special or limited warranty deed, is a legal document used to transfer real estate between a previous owner (the grantor) and a new owner (the grantee).

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A warranty deed conveys ownership of a property along with a guarantee that the grantor holds a clean title. Items 37 - 57 — Authorize (1) a contract with Texas Standard Construction, Ltd.And that is treated as a partnership for federal income tax purposes?

Irvine California Warranty Deed from Individual, Limited Partnership or LLC is the Grantor or Grantee

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FAQ

Who is grantor and grantee?

What is the difference between a deed and a grant deed in California?

Is grantor same as owner?

What are the 2 main types of deeds to transfer property in California?

Which type of deed is used by a trustee?

What is the difference between a quitclaim deed and a grant deed in California?

What is the most commonly used deed to transfer property in California?

Which type of deed is used by grantors who Cannot or do not want to make any warranties other than for the time they held title to the property?

What is a transfer deed in California?

Which type of deed is used by a grantor?

Interesting Questions

What is a warranty deed?

Who can be the Grantor or Grantee in an Irvine warranty deed?

What does it mean when an individual is the Grantor or Grantee?

What does it mean when a limited partnership is the Grantor or Grantee?

What does it mean when an LLC is the Grantor or Grantee?

What are the advantages of using a warranty deed?

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