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 to transfer ownership of real property from one party to another. When it comes to Abilene, Texas, there are various types of warranty deeds used specifically for transferring property from two individuals to a limited liability company (LLC). This process involves the conveyance of property rights and legal liabilities to the LLC, ensuring a smooth transition of ownership. Here are some key types of Abilene, Texas warranty deeds used for this purpose: 1. General Warranty Deed: A general warranty deed is commonly used in Abilene, Texas, for transferring property ownership while providing the highest level of protection to the buyer (LLC). This deed guarantees that the granter (individuals) has legal ownership rights and can defend the title against any claims or encumbrances. 2. Special Warranty Deed: Unlike a general warranty deed, a special warranty deed only warrants that the granter (individuals) hasn't caused any title defects during their ownership. It protects the buyer (LLC) from any claims arising during the granter's ownership but doesn't cover any defects or claims that existed before their ownership. 3. Quitclaim Deed: A quitclaim deed is another type of warranty deed often used in Abilene, Texas, for transferring property between two individuals and an LLC. This deed offers the least protection to the buyer (LLC) as it only transfers the granter's interest in the property without any guarantee as to the title's validity or any claims against it. Regardless of the specific type of warranty deed, there are certain elements typically included in an Abilene, Texas warranty deed from two individuals to an LLC: 1. Names and addresses of the granters (individuals) and the grantee (LLC): The individuals must specify their full names and addresses in the deed, as well as the name and address of the LLC. 2. Property description: The warranty deed should contain a detailed legal description of the property being transferred, including its boundaries, lot number, and any other relevant information to identify it accurately. 3. Consideration: The deed should mention the agreed-upon consideration or purchase price for the property. 4. Warranty covenants: A general warranty deed typically includes covenants that guarantee the granters (individuals) possess legal title, the right to transfer the property, and that the property is free from any encumbrances or defects. 5. Signatures and notarization: The granters and grantee must sign the deed in the presence of a notary public, who will then validate the document's authenticity. 6. Delivery: The warranty deed must be properly delivered to the LLC to complete the transfer of ownership. It's important to consult with a qualified real estate attorney or professional before drafting or executing any warranty deed to ensure compliance with specific requirements and address any legal concerns specific to Abilene, Texas.
