North Charleston South Carolina Warranty Deed from two Individuals to LLC

• Category: South Carolina Real Estate - Deeds - Warranty
• State: South Carolina
• City: North Charleston
• Control #: SC-04-78
• Format: Word; Rich Text

Description

This Warranty Deed from two Individuals to LLC form is a Warranty Deed where the Grantors are two individuals and the Grantee is a limited liability company. Grantors convey and warrant the described property to Grantee less and except all oil, gas and minerals, on and under the property owned by Grantors, if any, which are reserved by Grantors. A warranty deed is a legal document used in real estate transactions to transfer ownership of a property from one party to another. In the case of North Charleston, South Carolina, a warranty deed can be used when two individuals transfer their property to a Limited Liability Company (LLC). This type of transfer is common when individuals want to protect their personal assets and gain the benefits of liability protection offered by an LLC. The North Charleston South Carolina Warranty Deed from Two Individuals to LLC serves as a guarantee that the property being transferred is free from any potential claims or encumbrances. It provides essential details about the individuals transferring the property, the LLC receiving the property, and the property itself. Some key information typically included in this warranty deed may consist of the following: 1. Names and Addresses: The full legal names and addresses of both individuals who are transferring the property and the LLC acquiring it. 2. Property Description: A thorough and accurate description of the property, including its address, lot number, and any legal descriptions required by North Charleston authorities. 3. Consideration: The consideration or price paid for the property transfer from the individuals to the LLC. This section may also state that the transfer is made as a gift or for other non-monetary considerations. 4. Warranty of Title: The warranty of title clause ensures that the individuals transferring the property have valid ownership and the right to sell it. It guarantees that there are no hidden claims, liens, or encumbrances on the property except those explicitly mentioned in the document. 5. Covenants: This section may include various covenants, such as the covenant of seizing (assurance that the transferring individuals have legal ownership rights), covenant against encumbrances (assurance that the property is free from any burdensome claims), covenant of quiet enjoyment (assurance of uninterrupted ownership without disturbance), and covenant of further assurances (promises to take any necessary steps to rectify defects in the title). 6. Signatures and Notarization: The warranty deed requires the signatures of both individuals transferring the property, which must be notarized in the presence of a notary public. The LLC's representative or authorized member must also sign and notarize the document. It's worth noting that while a general warranty deed is commonly used, other specialized types of warranty deeds can also be employed in specific situations. Some examples include: a) Special Warranty Deed: This type of warranty deed provides a limited warranty, only guaranteeing the title against any claims or encumbrances that occurred during the transferring individuals' ownership period. It does not offer protection against claims that arose before they acquired the property. b) Quitclaim Deed: Unlike a warranty deed, a quitclaim deed offers the least amount of protection. It conveys the transferring individuals' interest, if any, without providing any warranties or guarantees about the property's title. These are some major aspects to consider when examining a North Charleston South Carolina Warranty Deed from Two Individuals to LLC. It's always recommended consulting with a qualified real estate attorney or professional for guidance and to ensure compliance with state laws and regulations.

A warranty deed is a legal document used in real estate transactions to transfer ownership of a property from one party to another. In the case of North Charleston, South Carolina, a warranty deed can be used when two individuals transfer their property to a Limited Liability Company (LLC). This type of transfer is common when individuals want to protect their personal assets and gain the benefits of liability protection offered by an LLC. The North Charleston South Carolina Warranty Deed from Two Individuals to LLC serves as a guarantee that the property being transferred is free from any potential claims or encumbrances. It provides essential details about the individuals transferring the property, the LLC receiving the property, and the property itself. Some key information typically included in this warranty deed may consist of the following: 1. Names and Addresses: The full legal names and addresses of both individuals who are transferring the property and the LLC acquiring it. 2. Property Description: A thorough and accurate description of the property, including its address, lot number, and any legal descriptions required by North Charleston authorities. 3. Consideration: The consideration or price paid for the property transfer from the individuals to the LLC. This section may also state that the transfer is made as a gift or for other non-monetary considerations. 4. Warranty of Title: The warranty of title clause ensures that the individuals transferring the property have valid ownership and the right to sell it. It guarantees that there are no hidden claims, liens, or encumbrances on the property except those explicitly mentioned in the document. 5. Covenants: This section may include various covenants, such as the covenant of seizing (assurance that the transferring individuals have legal ownership rights), covenant against encumbrances (assurance that the property is free from any burdensome claims), covenant of quiet enjoyment (assurance of uninterrupted ownership without disturbance), and covenant of further assurances (promises to take any necessary steps to rectify defects in the title). 6. Signatures and Notarization: The warranty deed requires the signatures of both individuals transferring the property, which must be notarized in the presence of a notary public. The LLC's representative or authorized member must also sign and notarize the document. It's worth noting that while a general warranty deed is commonly used, other specialized types of warranty deeds can also be employed in specific situations. Some examples include: a) Special Warranty Deed: This type of warranty deed provides a limited warranty, only guaranteeing the title against any claims or encumbrances that occurred during the transferring individuals' ownership period. It does not offer protection against claims that arose before they acquired the property. b) Quitclaim Deed: Unlike a warranty deed, a quitclaim deed offers the least amount of protection. It conveys the transferring individuals' interest, if any, without providing any warranties or guarantees about the property's title. These are some major aspects to consider when examining a North Charleston South Carolina Warranty Deed from Two Individuals to LLC. It's always recommended consulting with a qualified real estate attorney or professional for guidance and to ensure compliance with state laws and regulations.