A Wake North Carolina Warranty Deed is a legal document used in real estate transactions where a limited partnership or a limited liability company (LLC) acts as either the granter or the grantee. The warranty deed ensures that the property being transferred is free from any encumbrances and provides guarantees to the grantee regarding the title's authenticity and marketability. When a limited partnership acts as the granter (transferring the property), it conveys ownership rights to an individual or entity. The limited partnership can be structured as a general partnership with one or more general partners and one or more limited partners. In this case, the general partner would typically execute the deed on behalf of the limited partnership. Alternatively, an LLC can also serve as the granter or grantee in a Wake North Carolina Warranty Deed. An LLC is a versatile business structure that combines elements of both partnerships and corporations, providing owners (referred to as members) with limited liability protection. The LLC can transfer property rights to another entity or individual as the granter, or it can receive property rights as the grantee. It is important to note that there are different variations of the Wake North Carolina Warranty Deed depending on the specific circumstances of the transaction. For example, if the limited partnership or LLC is acting as the granter, the deed may be called a "Limited Partnership Warranty Deed" or an "LLC Warranty Deed," respectively. Similarly, if the limited partnership or LLC is the grantee, the deed may be named as "Limited Partnership Grantee Deed" or an "LLC Grantee Deed." In conclusion, a Wake North Carolina Warranty Deed involving a limited partnership or LLC signifies the transfer of property rights, either by the granter or to the grantee. The deed ensures a clear and marketable title, thereby providing security to both parties involved in the real estate transaction.
Wake North Carolina Warranty Deed from Limited Partnership or LLC is the Grantor, or Grantee
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