This form is a Warranty Deed where the grantor and/or grantee could be a limited partnership or LLC.
A Houston Texas Warranty Deed for Limited Partnership or LLC refers to a legal document that serves as evidence of the transfer of real property ownership from a Limited Partnership or Limited Liability Company (LLC) to another party. When a Limited Partnership or LLC serves as the Granter (the entity transferring the property), it means that the property is owned by the partnership or company and is being transferred to a new owner or entity. The Granter typically warrants or guarantees that they have legal authority to transfer the property, and that the property is free from any liens, encumbrances, or other claims. On the other hand, if a Limited Partnership or LLC acts as the Grantee (the entity receiving the property), it means that they are acquiring the property from another owner. In this case, the Grantee relies on the warranties provided by the Granter that the property being transferred is free from any defects or encumbrances. It is worth noting that there can be different types of Houston Texas Warranty Deeds for Limited Partnership or LLC acting as the Granter or Grantee, based on various factors and intentions. Some common types include: 1. General Warranty Deed: This type of deed provides the highest level of protection for the Grantee, as it includes extensive warranties and assures that the Granter will defend the title against any claims that may arise in the future. 2. Special Warranty Deed: Unlike the General Warranty Deed, this type of deed limits the warranties provided by the Granter. The Granter only warrants against any defects or encumbrances that occurred during their ownership period, not prior to it. 3. Quitclaim Deed: This deed offers the least protection to the Grantee. The Granter makes no warranties regarding the property and only transfers their rights and interests without guaranteeing the absence of defects or claims. In conclusion, a Houston Texas Warranty Deed for Limited Partnership or LLC can either be used when the partnership or company serves as the Granter, transferring ownership of the property, or as the Grantee, acquiring ownership of the property. It is important to consider the different types of deeds available and their implications when engaging in real estate transactions involving these entities.A Houston Texas Warranty Deed for Limited Partnership or LLC refers to a legal document that serves as evidence of the transfer of real property ownership from a Limited Partnership or Limited Liability Company (LLC) to another party. When a Limited Partnership or LLC serves as the Granter (the entity transferring the property), it means that the property is owned by the partnership or company and is being transferred to a new owner or entity. The Granter typically warrants or guarantees that they have legal authority to transfer the property, and that the property is free from any liens, encumbrances, or other claims. On the other hand, if a Limited Partnership or LLC acts as the Grantee (the entity receiving the property), it means that they are acquiring the property from another owner. In this case, the Grantee relies on the warranties provided by the Granter that the property being transferred is free from any defects or encumbrances. It is worth noting that there can be different types of Houston Texas Warranty Deeds for Limited Partnership or LLC acting as the Granter or Grantee, based on various factors and intentions. Some common types include: 1. General Warranty Deed: This type of deed provides the highest level of protection for the Grantee, as it includes extensive warranties and assures that the Granter will defend the title against any claims that may arise in the future. 2. Special Warranty Deed: Unlike the General Warranty Deed, this type of deed limits the warranties provided by the Granter. The Granter only warrants against any defects or encumbrances that occurred during their ownership period, not prior to it. 3. Quitclaim Deed: This deed offers the least protection to the Grantee. The Granter makes no warranties regarding the property and only transfers their rights and interests without guaranteeing the absence of defects or claims. In conclusion, a Houston Texas Warranty Deed for Limited Partnership or LLC can either be used when the partnership or company serves as the Granter, transferring ownership of the property, or as the Grantee, acquiring ownership of the property. It is important to consider the different types of deeds available and their implications when engaging in real estate transactions involving these entities.
