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 Chattanooga Tennessee Special Warranty Deed from an Individual to an LLC is a legal document that transfers ownership of real estate from an individual to a limited liability company (LLC). This type of deed provides certain assurances from the individual selling the property, known as the granter, to the LLC, known as the grantee. The special warranty deed guarantees that the granter, the individual selling the property, holds valid title to the property and has the right to transfer ownership. However, it only provides limited warranties regarding any potential defects or claims against the property that may have arisen during the time the granter owned it. Unlike a general warranty deed, which provides the highest level of protection for the grantee against any claims arising from the property's past, a special warranty deed only protects against claims that occurred during the granter's ownership period. There are various types of special warranty deeds that can be used in Chattanooga, Tennessee, depending on the specific circumstances of the transfer: 1. Individual to LLC — Standard Special Warranty Deed: This is the most common type of special warranty deed used to transfer ownership from an individual to an LLC. It guarantees that the granter has not created any encumbrances or defects on the property during their ownership, except those disclosed in the deed. 2. Individual to LLC — Limited Liability Special Warranty Deed: This special warranty deed places additional limitations on the granter's liability by stating that they will only be responsible for defects or encumbrances that occurred during their ownership, but not any prior claims. 3. Individual to LLC — Tax Special Warranty Deed: This special warranty deed, specifically designed for tax purposes, may be used when a property is transferred from an individual to an LLC for tax planning or assessment purposes. It provides warranties similar to a standard special warranty deed but includes provisions related to tax liabilities or exemptions. When executing a Chattanooga Tennessee Special Warranty Deed from an Individual to an LLC, it is crucial to consult with a qualified real estate attorney to ensure compliance with local laws and to protect the interests of both parties involved in the transaction.A Chattanooga Tennessee Special Warranty Deed from an Individual to an LLC is a legal document that transfers ownership of real estate from an individual to a limited liability company (LLC). This type of deed provides certain assurances from the individual selling the property, known as the granter, to the LLC, known as the grantee. The special warranty deed guarantees that the granter, the individual selling the property, holds valid title to the property and has the right to transfer ownership. However, it only provides limited warranties regarding any potential defects or claims against the property that may have arisen during the time the granter owned it. Unlike a general warranty deed, which provides the highest level of protection for the grantee against any claims arising from the property's past, a special warranty deed only protects against claims that occurred during the granter's ownership period. There are various types of special warranty deeds that can be used in Chattanooga, Tennessee, depending on the specific circumstances of the transfer: 1. Individual to LLC — Standard Special Warranty Deed: This is the most common type of special warranty deed used to transfer ownership from an individual to an LLC. It guarantees that the granter has not created any encumbrances or defects on the property during their ownership, except those disclosed in the deed. 2. Individual to LLC — Limited Liability Special Warranty Deed: This special warranty deed places additional limitations on the granter's liability by stating that they will only be responsible for defects or encumbrances that occurred during their ownership, but not any prior claims. 3. Individual to LLC — Tax Special Warranty Deed: This special warranty deed, specifically designed for tax purposes, may be used when a property is transferred from an individual to an LLC for tax planning or assessment purposes. It provides warranties similar to a standard special warranty deed but includes provisions related to tax liabilities or exemptions. When executing a Chattanooga Tennessee Special Warranty Deed from an Individual to an LLC, it is crucial to consult with a qualified real estate attorney to ensure compliance with local laws and to protect the interests of both parties involved in the transaction.
