This form is a Special Warranty Deed where the Grantor is an individual and the Grantee is a limited liability company. Grantor conveys and specially warrants the described property to the Grantee. The Grantor only warrants and will defend the property only as to claims of persons claiming by, through or under Grantor, but not otherwise. This deed complies with all state statutory laws.
A Suffolk New York Special Warranty Deed from an Individual to a Limited Liability Company is a legal document that transfers ownership of real estate from an individual property owner to a Limited Liability Company (LLC) in Suffolk County, New York. This type of deed provides specific assurances and protections to the buyer (the LLC) regarding the quality and condition of the title being transferred. The Special Warranty Deed is commonly used in real estate transactions where the individual seller is not providing a full warranty of the property's title, but rather a limited warranty that protects the buyer against any defects or claims that may have arisen during the seller's ownership. Key features of a Suffolk New York Special Warranty Deed from an Individual to a Limited Liability Company: 1. Granter: The individual property owner, referred to as the Granter, is transferring ownership rights to the LLC, known as the Grantee. 2. Property Description: The deed should include a detailed and accurate legal description of the property being conveyed, typically including information such as the property's boundaries, lot number, and street address. 3. Special Warranty: The deed includes a specific warranty clause that guarantees the Granter's ownership and possession rights during their ownership tenure, but does not ensure against any claims that may have arisen prior to their ownership. This means the Granter will defend the title against any claims arising from their actions alone, rather than covering the entire history of the property. 4. Consideration: The deed should state the agreed-upon consideration or purchase price for the property being transferred. This is typically an important clause as it establishes the value of the transaction and can affect tax obligations. 5. Signatures and Notarization: Both the Granter and the Grantee must sign the deed in the presence of a Notary Public. This requirement ensures the legality and authenticity of the document. Common types of Suffolk New York Special Warranty Deed from an Individual to a Limited Liability Company may include: 1. Residential Property Transfer: This type of deed is commonly used when an individual homeowner is selling their residential property to an LLC, which might be purchasing it for investment purposes or for use as a rental property. 2. Commercial Property Transfer: When an individual owner decides to transfer ownership of a commercial property to an LLC, a Special Warranty Deed is often utilized. This document ensures that the buyer acquires the property with limited assurances regarding the title. 3. Vacant Land Transfer: If an individual is selling undeveloped land to an LLC, a Special Warranty Deed can be used to facilitate the transfer. The limited warranty clause protects the buyer from any claims or defects that originated during the seller's ownership. It is important to consult with a qualified attorney or real estate professional familiar with Suffolk County, New York, to ensure compliance with local laws and regulations when drafting or using a Special Warranty Deed.A Suffolk New York Special Warranty Deed from an Individual to a Limited Liability Company is a legal document that transfers ownership of real estate from an individual property owner to a Limited Liability Company (LLC) in Suffolk County, New York. This type of deed provides specific assurances and protections to the buyer (the LLC) regarding the quality and condition of the title being transferred. The Special Warranty Deed is commonly used in real estate transactions where the individual seller is not providing a full warranty of the property's title, but rather a limited warranty that protects the buyer against any defects or claims that may have arisen during the seller's ownership. Key features of a Suffolk New York Special Warranty Deed from an Individual to a Limited Liability Company: 1. Granter: The individual property owner, referred to as the Granter, is transferring ownership rights to the LLC, known as the Grantee. 2. Property Description: The deed should include a detailed and accurate legal description of the property being conveyed, typically including information such as the property's boundaries, lot number, and street address. 3. Special Warranty: The deed includes a specific warranty clause that guarantees the Granter's ownership and possession rights during their ownership tenure, but does not ensure against any claims that may have arisen prior to their ownership. This means the Granter will defend the title against any claims arising from their actions alone, rather than covering the entire history of the property. 4. Consideration: The deed should state the agreed-upon consideration or purchase price for the property being transferred. This is typically an important clause as it establishes the value of the transaction and can affect tax obligations. 5. Signatures and Notarization: Both the Granter and the Grantee must sign the deed in the presence of a Notary Public. This requirement ensures the legality and authenticity of the document. Common types of Suffolk New York Special Warranty Deed from an Individual to a Limited Liability Company may include: 1. Residential Property Transfer: This type of deed is commonly used when an individual homeowner is selling their residential property to an LLC, which might be purchasing it for investment purposes or for use as a rental property. 2. Commercial Property Transfer: When an individual owner decides to transfer ownership of a commercial property to an LLC, a Special Warranty Deed is often utilized. This document ensures that the buyer acquires the property with limited assurances regarding the title. 3. Vacant Land Transfer: If an individual is selling undeveloped land to an LLC, a Special Warranty Deed can be used to facilitate the transfer. The limited warranty clause protects the buyer from any claims or defects that originated during the seller's ownership. It is important to consult with a qualified attorney or real estate professional familiar with Suffolk County, New York, to ensure compliance with local laws and regulations when drafting or using a Special Warranty Deed.
