This form is a Limited Warranty Deed where the grantor is an individual and the grantee is a limited liability company.
A Columbus Ohio Limited Warranty Deed from Individual to LLC is a legal document that facilitates the transfer of ownership of real estate property located in Columbus, Ohio, from an individual to a limited liability company (LLC). This type of deed offers a limited warranty, which means that the individual selling the property (granter) guarantees that they have lawful ownership of the property and have not encumbered it with any undisclosed liens or claims, except for those specified in the deed. The limited warranty deed serves to protect the LLC (grantee) by providing some assurance that the granter has clear and marketable title to the property. However, it does not offer the same level of protection as a general warranty deed, which provides a more extensive guarantee against any potential defects in the title. The Columbus Ohio Limited Warranty Deed from Individual to LLC includes essential elements such as: 1. Identification of the Granter and Grantee: The deed clearly states the identities of the individual transferring the property and the LLC receiving it. 2. Property Description: A detailed and accurate description of the property being conveyed is included. This typically includes the legal description, boundaries, lot numbers, and any other relevant details needed to identify and locate the property. 3. Consideration: The deed must specify the exchange of consideration between the granter and grantee for the transfer of ownership. This can be monetary or non-monetary, such as the assumption of debts or other obligations. 4. Legal Language: The document is drafted in accordance with Columbus Ohio's real estate laws and includes specific language required by state regulations to ensure its validity. 5. Signatures and Acknowledgments: The deed must be signed by the granter, attested by witnesses, and notarized to make it legally binding. The notary public verifies the authenticity of the granter's identity and witnesses the granter's signature. It is important to note that there may be different variations or types of Limited Warranty Deeds in Columbus, Ohio, depending on specific circumstances or additional provisions required by the parties involved. For example, a Quitclaim Deed may be used if the granter is not providing any warranty, but merely transferring their own interest in the property to the LLC. Alternatively, a Special Warranty Deed may be used in situations where the granter provides a limited warranty but only for specific claims or encumbrances they created during their period of ownership.
