This form is a General Warranty Deed where the Grantor is an LLC and the Grantee is also a municipal corporation. Grantor conveys and warrants the described property to the Grantee. This deed complies with all state statutory laws.
Lewisville Texas General Warranty Deed from a Limited Liability Company to a Municipal Corporation is a legal document that facilitates the transfer of property ownership rights from a limited liability company (LLC) to a municipal corporation located in Lewisville, Texas. This deed acts as tangible proof of the transaction and ensures a smooth transfer of property rights while providing certain warranties and guarantees to the municipal corporation. A general warranty deed is typically used in real estate transactions to convey property with maximum protection for the buyer. When an LLC sells property to a municipal corporation, this deed guarantees that the property is free from any encumbrances, except those explicitly mentioned in the deed. The seller, in this case, being the LLC, assures that they have the legal right to sell the property and that it is free from any hidden claims, liens, or legal issues. The Lewisville Texas General Warranty Deed from a Limited Liability Company to a Municipal Corporation includes essential elements such as: 1. Parties Involved: The deed clearly identifies the LLC as the granter/seller and the municipal corporation as the grantee/buyer. It includes the legal names of both parties and their respective addresses. 2. Property Description: A comprehensive description of the property being sold must be included. The description typically includes the address, boundaries, and any other essential details that uniquely identify the property. 3. Consideration: This section details the agreed-upon purchase price or any other form of compensation exchanged for the property. This may also include any conditions or contingencies related to the payment. 4. Template Language: The deed generally follows a legal template language that ensures the property transfer adheres to the laws, regulations, and requirements set forth by the state of Texas. 5. Covenants and Warranties: The warranty section guarantees certain assurances provided by the LLC to the municipal corporation. These warranties protect the buyer against future claims and ensure that the title to the property is free and clear at the time of sale. Some variations and specific types of Lewisville Texas General Warranty Deed from a Limited Liability Company to a Municipal Corporation may include: 1. Limited Warranty Deed: This type of deed also guarantees title to the municipal corporation, but with limited warranties. These warranties only protect the buyer against claims arising during the time the seller owned the property. 2. Special Warranty Deed: Similar to the limited warranty deed, this type of deed offers warranties that only cover claims arising during the seller's ownership. It differs from a general warranty deed, where the warranties extend back to the property's origins. The Lewisville Texas General Warranty Deed from a Limited Liability Company to a Municipal Corporation serves as a crucial legal instrument in property transfers. It grants the municipal corporation confidence in their ownership rights while ensuring the seller bears certain responsibilities and warranties for the property's condition and legal status.
