This Warranty Deed from Husband and Wife to LLC form is a 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 grantee less oil, gas and minerals to which grantors reserve the right.
A Waco Texas Warranty Deed from Husband and Wife to LLC is a legal document used to transfer property ownership from a married couple to a limited liability company (LLC) in Waco, Texas. This type of deed provides certain guarantees to the buyer (the LLC) regarding the property's title and protects against any undisclosed claims to the property. The husband and wife, as granters, convey their ownership rights and interests in the property to the LLC, known as the grantee. The deed contains essential information such as the names of the granters, the LLC, and a detailed legal description of the property being transferred. By executing a warranty deed, the husband and wife assure the LLC that they hold clear and marketable title to the property. This means that they are the true owners of the property with the right to sell it, and that there are no liens, mortgages, or encumbrances (unless specified otherwise) that would impede the LLC's ownership rights. In Waco, Texas, there are three main types of warranty deeds commonly used in the transfer of property from husband and wife to an LLC: 1. General Warranty Deed: This type of deed provides the broadest protection for the LLC, guaranteeing that the granters will defend the title against any claims arising before or during their ownership. It includes warranties of title, quiet enjoyment, and freedom from encumbrances. 2. Special Warranty Deed: With a special warranty deed, the granters only provide warranties against claims that may arise during their period of ownership. This means that the LLC may not be protected against any existing claims predating the granters' ownership. However, it still ensures potential protection against claims that may arise due to granters' actions. 3. Quitclaim Deed: Unlike the warranty deeds, a quitclaim deed does not provide any warranties or guarantees regarding the property title. It simply transfers the ownership rights the granters possess, without ensuring the absence of liens or claims. This type of deed is typically used when the granters are unsure about the status of the title or when transferring property within a family. When preparing a Waco Texas Warranty Deed from Husband and Wife to LLC, it is crucial to consult with legal professionals experienced in real estate and property law to ensure compliance with local regulations and to accurately complete the document.
