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.
Travis Texas Assumption Warranty Deed — Husband and Wife to Limited Liability Company is a legal document used to transfer real estate ownership from a married couple to a limited liability company (LLC) located in Travis County, Texas. This type of deed ensures that the property being transferred has no existing liens or encumbrances, and that the husband and wife guarantee their ownership rights to the LLC. By transferring the property ownership to an LLC, the husband and wife benefit from a layer of liability protection, as the potential risks associated with property ownership are shifted to the LLC. This allows them to separate their personal assets from the property, shielding them from potential lawsuits or claims related to the real estate. There are several variations of Travis Texas Assumption Warranty Deed — Husband and Wife to Limited Liability Company, including: 1. Assumption Warranty Deed with Covenants: This transfer method explicitly states that the husband and wife assume responsibility for any existing warranties or covenants associated with the property, even after it is transferred to the LLC. 2. Assumption Warranty Deed with Special Warranty: This type of deed limits the warranties provided by the husband and wife to any defects or encumbrances that arose during their ownership period, ensuring that they are not liable for any issues that may have existed prior to their ownership. 3. Assumption Warranty Deed with Quitclaim: A quitclaim deed allows the husband and wife to transfer their rights to the LLC without providing any warranties or guarantees regarding the property. This type of deed is commonly used when the property transfer is between family members or when the ownership transfer is not based on monetary considerations. In summary, the Travis Texas Assumption Warranty Deed — Husband and Wife to Limited Liability Company serves as a legal instrument to facilitate the transfer of property ownership from a married couple to an LLC, ensuring clear title and providing liability protection. The various types of warranty deeds associated with this process provide different levels of assurances and liabilities for both parties involved.
