This form is an Assumption Warranty Deed where the Grantors are husband and wife and the Grantee is a limited liability company. Grantors convey and warrant the described property to the Grantee. As part of the consideration for the transfer, the Grantee assumes the existing note and deed of trust. This deed complies with all state statutory laws.
A Collin Texas Assumption Warranty Deed — Husband and Wife to Limited Liability Company is a legal document that transfers the ownership of real estate property from a married couple to a limited liability company (LLC) based in Collin, Texas. This type of deed provides certain guarantees and protections to the buyer regarding the property's title and any encumbrances. Here are some key points to consider: 1. Collin County: Located in the northern part of Texas, Collin County is known for its vibrant cities and thriving communities. It offers a favorable business climate and a range of amenities, making it an attractive location for real estate investments. 2. Assumption Warranty Deed: An Assumption Warranty Deed is a specific type of deed that conveys real property and explicitly provides assurances and guarantees from the seller to the buyer. By using this deed, the sellers (husband and wife) warrant that they are the legal owners of the property and have the right to transfer the title to the LLC. 3. Husband and Wife to Limited Liability Company: This type of deed is used when a married couple, as joint owners of a property, decides to transfer the ownership to a limited liability company. The LLC is a business entity that offers various benefits, including limited liability protection, tax advantages, and flexibility in management. 4. Guaranteeing Clear Title: The Collin Texas Assumption Warranty Deed ensures that the sellers are transferring a property with a clear and marketable title, free from any undisclosed liens, claims, or encumbrances. This warranty provides the buyer with legal recourse in case any defect in the title arises after the transfer. 5. Different Types: While the Collin Texas Assumption Warranty Deed — Husband and Wife to Limited Liability Company generally refers to the transfer of real estate ownership from a married couple to an LLC, there may be variations depending on specific circumstances. For example, the deed may differ if the property is held as community property or separate property, or if multiple LCS are involved in the transaction. In conclusion, the Collin Texas Assumption Warranty Deed — Husband and Wife to Limited Liability Company is a legally binding document that allows a married couple to transfer the ownership of their property to an LLC based in Collin County, Texas. This deed guarantees a clear title and provides the buyer with reassurances regarding the property's legal status. It is important to consult with legal professionals when drafting or executing such deeds to ensure compliance with local laws and regulations.
