This form is a Warranty Deed where the Grantor is a limited liability company and the Grantee is also a limited liability company. Grantor conveys and warrants the described property to the Grantee. This deed complies with all state statutory laws.
A Palm Bay Florida Warranty Deed from a Limited Liability Company (LLC) to another LLC is a legal document that transfers the ownership of a property or real estate from one LLC to another. It provides a warranty that the title to the property is free and clear of any liens, claims, or encumbrances, ensuring that the buyer receives full ownership and protection of the property. In Palm Bay, Florida, there are two main types of Warranty Deed that can be used for this transaction: General Warranty Deed and Special Warranty Deed. 1. General Warranty Deed: This type of deed ensures the highest level of protection for the buyer (transferee). It guarantees that the property has been owned by the LLC (transferor) without any defects in the title, dating back to the property's origin. The transferor ensures to defend against any future claims made regarding the property's title. The general warranty deed provides the buyer with peace of mind and a comprehensive level of protection. 2. Special Warranty Deed: This type of deed provides a more limited warranty compared to the general warranty deed. The LLC (transferor) guarantees that they have not caused any defects in the title during the period they owned the property. Unlike the general warranty deed, the special warranty deed does not cover any defects that existed prior to the LLC's ownership. It offers a lesser level of protection to the buyer, but it still ensures that the LLC will defend against any claims made during their ownership. When drafting a Palm Bay Florida Warranty Deed from a Limited Liability Company to a Limited Liability Company, essential details should be included: 1. Identification: The full legal names and addresses of both the transferor (seller LLC) and the transferee (buyer LLC), along with their official identification numbers such as their EIN (Employer Identification Number) or Florida State Identification Number. 2. Description of Property: A detailed legal description of the property being transferred should be included, including the property address, lot numbers, boundary lines, and any other necessary information to accurately identify the property. 3. Consideration: The amount or value in which the property is being transferred should be explicitly mentioned in the warranty deed. 4. Granting Clause: This clause should state the intention of the transferor to convey the property to the transferee. It indicates that the transferor holds a valid ownership interest in the property and has the right to transfer it. 5. Covenants: The deed should include the appropriate covenants, depending on the type of warranty deed chosen. A general warranty deed includes covenants such as Basin, Right to Convey, Encumbrances, Quiet Enjoyment, and Warranty. A special warranty deed includes covenants such as Right to Convey and Encumbrances. 6. Signatures and Notarization: The document should be signed by the authorized representatives of both the transferor and transferee. It should also be notarized to ensure its legality and authenticity. It is crucial to consult with a real estate attorney or a professional with expertise in real estate law to ensure the accurate preparation and execution of the Palm Bay Florida Warranty Deed from a Limited Liability Company to a Limited Liability Company.
