This form is a Warranty Deed where the grantor and/or grantee may be a limited partnership or LLC.
A Waterbury Connecticut Warranty Deed is a legal document used to transfer ownership of real property from a Granter to a Grantee. This type of deed provides a guarantee or warranty by the Granter that they have clear ownership and have the right to transfer the property to the Grantee. The warranty deed is commonly used when individuals, limited partnerships, or limited liability companies (LLC) are involved in the transaction. When an individual serves as the Granter or Grantee, the Waterbury Connecticut Warranty Deed ensures that ownership rights are lawfully transferred, and the grantee can have the peace of mind that they are acquiring a legitimate property interest. This type of deed is widely used in traditional real estate transactions involving individual buyers and sellers. In the case of a limited partnership serving as the Granter or Grantee, the Waterbury Connecticut Warranty Deed also guarantees that the limited partnership has the full authority to transfer ownership of the property. Limited partnerships are a type of business structure where two or more partners operate a business together, with at least one general partner (having unlimited liability) and limited partners (with limited liability). The use of a Warranty Deed in this scenario ensures that the property is being legally transferred and that the limited partnership has the necessary authority. Similarly, when an LLC is involved as the Granter or Grantee, a Waterbury Connecticut Warranty Deed is often used. An LLC is a popular business structure that provides limited liability protection to its owners or members. The Warranty Deed, in this case, protects the Grantee in the transaction by ensuring that the LLC has the full authority to transfer the property and that no other claims or liens exist against the property. In summary, a Waterbury Connecticut Warranty Deed can be utilized in various real estate transactions involving different parties such as individuals, limited partnerships, or LCS. The use of a Warranty Deed provides a guarantee by the Granter to the Grantee that they have a clear and lawful ownership interest in the property being transferred.
