A Charlotte North Carolina Warranty Deed from a Limited Partnership or Limited Liability Company (LLC) serves as a legal document that transfers ownership rights of a property from the Granter (either the Limited Partnership or LLC) to the Grantee. The term "Warranty Deed" signifies that the Granter guarantees clear and unencumbered property title, promising to defend it against any claims by third parties. In Charlotte, North Carolina, there are several types of Warranty Deeds that may involve a Limited Partnership or LLC as the Granter, or the entity receiving the property as the Grantee. These include: 1. General Warranty Deed: This type of deed provides the highest level of protection for the Grantee. The Granter represents that they own the property, have the right to sell it, and will defend the title against any claims arising before or during their tenure of ownership. This type of deed offers the most comprehensive warranty for the Grantee. 2. Special Warranty Deed: With a Special Warranty Deed, the Granter guarantees that they have not caused or allowed any encumbrances during their ownership of the property, except as specifically stated in the deed. This means that any claims arising from before the Granter's ownership may not be covered. The level of protection for the Grantee in a Special Warranty Deed is limited to the Granter's tenure of ownership. 3. Quitclaim Deed: Although not a Warranty Deed, a Quitclaim Deed may also involve a Limited Partnership or LLC as the Granter. In this case, the Granter relinquishes any claim or interest they may have in the property, without providing any warranties or guarantees. A Quitclaim Deed offers the least amount of protection for the Grantee, as it does not ensure that the Granter has clear ownership rights. It is essential to conduct a thorough title search and review any associated legal documentation to ensure the validity and accuracy of the property's title before proceeding with any real estate transactions involving a Charlotte North Carolina Warranty Deed from a Limited Partnership or LLC as the Granter or Grantee.
Charlotte North Carolina Warranty Deed from Limited Partnership or LLC is the Grantor, or Grantee
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FAQ
A general warranty deed must include the following to be valid: The name and address of the seller (called the grantor) The name and address of the buyer (called the grantee) A legal description of the property (found on the previous deed) A statement that the grantor is transferring the property to the grantee.
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).
A general warranty deed protects the grantee against any title defects or claims arising at any point in time. Whereas, a special warranty deed only protects the grantee against title defects arising from the actions or omissions of the grantor during its ownership.
A North Carolina general warranty deed is used to legally transfer property in North Carolina from one person to another. A warranty deed comes with a guarantee from the seller that the property has clear title.
Non-Warranty Deeds In a Non-Warranty or Quitclaim Deed, the seller merely is giving the buyer whatever rights, if any, that the seller has in the property and the seller makes no warranties of any nature about the seller's rights in the property.
General Warranty Deed With this type of deed, the grantor makes a series of legally binding promises (called covenants) and warranties to the grantee (and their heirs) agreeing to protect the grantee against any prior claims and demands of all persons whomsoever in regards to the conveyed land.
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.
General warranty deed: A general warranty deed is the most common type of deed used to transfer fee simple ownership of a property. Unlike a quitclaim deed, a general warranty deed does confirm a grantor's ownership and a legal right to sell.
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.
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.