This form is a Limited Warranty Deed where the grantors are husband and wife
In Akron, Ohio, a Limited Warranty Deed is a legal document used to transfer property ownership from a husband and wife to a Limited Liability Company (LLC). This type of deed provides certain assurances to the LLC regarding the condition and ownership of the property. The Limited Warranty Deed ensures that the husband and wife, as granters, have legal ownership of the property and have the right to transfer it to the LLC, the grantee. The deed guarantees that the property is free from any undisclosed encumbrances or defects in title that may arise during their period of ownership. By using a Limited Warranty Deed, the husband and wife are assuring the LLC that they will defend the property against any claims made by prior owners or parties with an interest in the property during the period of their ownership. However, the warranty only covers claims that may arise during their ownership and does not extend beyond it. In Akron, there may be variations of the Limited Warranty Deed from Husband and Wife to LLC based on specific circumstances and requirements. Some common types of Limited Warranty Deeds in Akron, Ohio, include: 1. General Limited Warranty Deed: This is the standard type of deed used to transfer property ownership from husband and wife to the LLC. It provides the most comprehensive warranty, ensuring the LLC against any claims arising during the husband and wife's period of ownership. 2. Special Limited Warranty Deed: This type of deed offers a more limited warranty compared to the general warranty deed. It guarantees that the husband and wife, as granters, have not caused any defects in the property title during their ownership. However, it does not cover any claims arising from previous owners. 3. Bargain and Sale Deed: This deed type is commonly used when the husband and wife transfer the property without guaranteeing clear title. It simply implies that the husband and wife have legal ownership at the time of transfer, but does not warrant against any defects or prior claims. When preparing a Limited Warranty Deed from Husband and Wife to LLC in Akron, Ohio, it is crucial to consult with a qualified real estate attorney to ensure compliance with state and local laws. The attorney can guide the parties involved and help choose the appropriate type of deed that fits their specific needs.In Akron, Ohio, a Limited Warranty Deed is a legal document used to transfer property ownership from a husband and wife to a Limited Liability Company (LLC). This type of deed provides certain assurances to the LLC regarding the condition and ownership of the property. The Limited Warranty Deed ensures that the husband and wife, as granters, have legal ownership of the property and have the right to transfer it to the LLC, the grantee. The deed guarantees that the property is free from any undisclosed encumbrances or defects in title that may arise during their period of ownership. By using a Limited Warranty Deed, the husband and wife are assuring the LLC that they will defend the property against any claims made by prior owners or parties with an interest in the property during the period of their ownership. However, the warranty only covers claims that may arise during their ownership and does not extend beyond it. In Akron, there may be variations of the Limited Warranty Deed from Husband and Wife to LLC based on specific circumstances and requirements. Some common types of Limited Warranty Deeds in Akron, Ohio, include: 1. General Limited Warranty Deed: This is the standard type of deed used to transfer property ownership from husband and wife to the LLC. It provides the most comprehensive warranty, ensuring the LLC against any claims arising during the husband and wife's period of ownership. 2. Special Limited Warranty Deed: This type of deed offers a more limited warranty compared to the general warranty deed. It guarantees that the husband and wife, as granters, have not caused any defects in the property title during their ownership. However, it does not cover any claims arising from previous owners. 3. Bargain and Sale Deed: This deed type is commonly used when the husband and wife transfer the property without guaranteeing clear title. It simply implies that the husband and wife have legal ownership at the time of transfer, but does not warrant against any defects or prior claims. When preparing a Limited Warranty Deed from Husband and Wife to LLC in Akron, Ohio, it is crucial to consult with a qualified real estate attorney to ensure compliance with state and local laws. The attorney can guide the parties involved and help choose the appropriate type of deed that fits their specific needs.
