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.
In San Angelo, Texas, an Assumption Warranty Deed is a legal document used to transfer ownership of a property from a husband and wife to a Limited Liability Company (LLC). This type of deed provides certain assurances to the buyer that the property is free from legal claims and encumbrances. Here is a detailed description of what this deed entails, along with its various types: 1. San Angelo Texas Assumption Warranty Deed — Husband and Wife to LLC— - This deed is commonly used when a married couple wishes to convey their property to an LLC, of which they are the sole members or majority owners. — The husband and wife are known as thgrantersrs, whereas the LLC is the grantee. — The deed ensures that the couple warrants and guarantees a valid transfer of title, indicating that they are the rightful owners of the property and have the authority to sell it. — It also assures the LLC that the property is free from any liens, mortgages, or encumbrances, except those previously agreed upon. — By using an LLC as the recipient, the couple can protect themselves from personal liability associated with the property. 2. General Warranty Deed: — This is the most common type of Assumption Warranty Deed used in San Angelo, Texas. — It provides the broadest level of protection to the buyer, as it contains a comprehensive set of covenants that ensure the title's validity. — These covenants include thgranteror's assurance of having legal authority to sell the property, freedom from undisclosed encumbrances, and defense against any future claims on the property. 3. Special Warranty Deed: — This type of Assumption Warranty Deed offers a more limited set of assurances compared to the General Warranty Deed. — Thgranteror warrants the title only against the claims and encumbrances that occurred during their ownership tenure. — This means that any issues stemming from previous owners' actions or events are not covered under this deed. 4. Quitclaim Deed: — Although not an Assumption Warranty Deed, it is worth mentioning the Quitclaim Deed to provide a broader understanding of property transfers. — A Quitclaim Deed simply transfers the rights, if any, that the granter possesses in the property without providing any warranties or guarantees. — It can be used to convey ownership of property when the granter does not want or is unable to guarantee the title's validity. — This type of deed is generally used in situations such as gifting property, transferring property between family members, or clearing encumbrances. In conclusion, when a husband and wife wish to transfer their property in San Angelo, Texas, to a Limited Liability Company, an Assumption Warranty Deed is typically used. Different types of this deed include the General Warranty Deed, Special Warranty Deed, and Quitclaim Deed. These deeds ensure the transfer of ownership and protect the buyer from any potential legal claims or encumbrances associated with the property.In San Angelo, Texas, an Assumption Warranty Deed is a legal document used to transfer ownership of a property from a husband and wife to a Limited Liability Company (LLC). This type of deed provides certain assurances to the buyer that the property is free from legal claims and encumbrances. Here is a detailed description of what this deed entails, along with its various types: 1. San Angelo Texas Assumption Warranty Deed — Husband and Wife to LLC— - This deed is commonly used when a married couple wishes to convey their property to an LLC, of which they are the sole members or majority owners. — The husband and wife are known as thgrantersrs, whereas the LLC is the grantee. — The deed ensures that the couple warrants and guarantees a valid transfer of title, indicating that they are the rightful owners of the property and have the authority to sell it. — It also assures the LLC that the property is free from any liens, mortgages, or encumbrances, except those previously agreed upon. — By using an LLC as the recipient, the couple can protect themselves from personal liability associated with the property. 2. General Warranty Deed: — This is the most common type of Assumption Warranty Deed used in San Angelo, Texas. — It provides the broadest level of protection to the buyer, as it contains a comprehensive set of covenants that ensure the title's validity. — These covenants include thgranteror's assurance of having legal authority to sell the property, freedom from undisclosed encumbrances, and defense against any future claims on the property. 3. Special Warranty Deed: — This type of Assumption Warranty Deed offers a more limited set of assurances compared to the General Warranty Deed. — Thgranteror warrants the title only against the claims and encumbrances that occurred during their ownership tenure. — This means that any issues stemming from previous owners' actions or events are not covered under this deed. 4. Quitclaim Deed: — Although not an Assumption Warranty Deed, it is worth mentioning the Quitclaim Deed to provide a broader understanding of property transfers. — A Quitclaim Deed simply transfers the rights, if any, that the granter possesses in the property without providing any warranties or guarantees. — It can be used to convey ownership of property when the granter does not want or is unable to guarantee the title's validity. — This type of deed is generally used in situations such as gifting property, transferring property between family members, or clearing encumbrances. In conclusion, when a husband and wife wish to transfer their property in San Angelo, Texas, to a Limited Liability Company, an Assumption Warranty Deed is typically used. Different types of this deed include the General Warranty Deed, Special Warranty Deed, and Quitclaim Deed. These deeds ensure the transfer of ownership and protect the buyer from any potential legal claims or encumbrances associated with the property.
