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 Memphis Tennessee Warranty Deed from two Individuals to LLC is a legally binding document that transfers ownership of a property from two individuals to a limited liability company (LLC) located in Memphis, Tennessee. This type of deed provides assurance to the LLC that the property is being transferred with a guarantee of clear title without any encumbrances or claims by others. This particular type of warranty deed signifies that the individuals, who are the current owners of the property, are conveying all of their rights, title, and interest in the real estate to the LLC. The LLC becomes the new owner and assumes all responsibilities and liabilities associated with the property. It is essential to note that there are multiple variations of Memphis Tennessee Warranty Deed from two Individuals to LLC, depending on the specific needs and circumstances of the property transfer. Some common types include: 1. General Warranty Deed: This type of warranty deed offers the highest level of protection to the LLC. It ensures that the individuals warrant and guarantee the title against any claims, even if they arose before their ownership of the property. 2. Special Warranty Deed: This deed provides a slightly limited level of protection compared to a general warranty deed. The individuals selling the property guarantee the title but only against claims or encumbrances that may have arisen during their period of ownership. 3. Quitclaim Deed: Often used in less formal transactions or when there is existing familiarity and trust between parties, a quitclaim deed transfers the individuals' rights, title, and interest in the property without any assurances or warranties. It essentially conveys whatever interest they have in the property, leaving the LLC to assume any risks associated with the title. All of these variations of the Memphis Tennessee Warranty Deed from two Individuals to LLC must include essential elements such as the legal description of the property, the names and signatures of the individuals transferring the property, the name of the LLC receiving the property, and the date of the transfer. Additionally, the deed must be notarized and properly recorded in the relevant county's land records office to establish its validity and provide notice to the public of the change in ownership.
