This form is a General Warranty Deed where the grantor is general partnership and the grantee is a limited liability company. Grantor conveys and generally warrants the described property to the grantee. This deed complies with all state statutory laws.
A San Angelo Texas General Warranty Deed is a legal document that transfers the ownership of real estate property from a General Partnership to a Limited Liability Company (LLC) within the San Angelo area. This type of deed provides a guarantee to the LLC (the buyer) that the property being transferred is free from any liens, encumbrances, or title defects. Under San Angelo, Texas laws, there are a few different types of General Warranty Deeds that can be used to convey property from a General Partnership to an LLC. These include: 1. Statutory Warranty Deed: This type of deed is commonly used in San Angelo, Texas, and provides the highest level of protection for the buyer (LLC). It carries specific warranties from the General Partnership, ensuring the buyer that the property is free from any defects in title. 2. Special Warranty Deed: This type of deed, also known as a Limited Warranty Deed, differs from a Statutory Warranty Deed in that it only guarantees the property against defects that occurred during the General Partnership's ownership. It does not provide protection against defects that may have existed before the General Partnership acquired the property. 3. Quitclaim Deed: While not commonly used in this specific situation, a Quitclaim Deed may also be employed to transfer property from a General Partnership to an LLC. However, this type of deed offers the least amount of protection to the buyer, as it simply transfers the General Partnership's interest in the property without any warranties or guarantees. When preparing a San Angelo Texas General Warranty Deed from a General Partnership to an LLC, it is essential to include specific information, such as: — Date: The date when the deed is executed. — Parties: Both the General Partnership (granter) and the LLC (grantee) must be clearly identified with their legal names and addresses. — Property Description: A precise description of the property being transferred, including details such as lot number, block number, subdivision name, and any other relevant information. — Consideration: The amount of money or other valuable consideration exchanged between the parties. — Covenants: The General Partnership's guarantees to the LLC, confirming that the property is free from any liens, encumbrances, or title defects. — Signatures: The deed must be signed and notarized by both parties involved, and any witnesses required under Texas law. In conclusion, a San Angelo Texas General Warranty Deed from General Partnership to Limited Liability Company is a legal instrument used to transfer ownership of real estate from a General Partnership to an LLC in San Angelo, Texas. Depending on the specific circumstances and the level of protection desired, the parties can choose between a Statutory Warranty Deed, a Special Warranty Deed, or a Quitclaim Deed.
