This form is a Warranty Deed where the grantor and/or grantee could be a limited partnership or LLC.
An Odessa Texas Warranty Deed for Limited Partnership or LLC is a legal document that serves as evidence of the transfer of ownership for real property between a Granter (the seller) who is a limited partnership or limited liability company (LLC), and a Grantee (the buyer). This specific type of warranty deed is used when a limited partnership or LLC is involved in the transaction. It ensures that the Granter has full legal right to sell the property and guarantees that they will defend the title against any claims made by third parties. In Odessa, Texas, there are different types of Warranty Deeds that can be used based on the specific needs of the Granter or Grantee. These include: 1. General Warranty Deed for Limited Partnership or LLC: This type of deed provides the highest level of protection to the Grantee as it includes both present and future warranties. The Granter guarantees that they have clear title to the property and will defend it against any claims made by others. 2. Special Warranty Deed for Limited Partnership or LLC: This deed also provides some level of protection to the Grantee, but the warranties are limited to only the time the Granter owned the property. It means that the Granter guarantees to defend against any claims that arise during their ownership period, but not prior to it. 3. Quitclaim Deed for Limited Partnership or LLC: Unlike the warranty deeds, a quitclaim deed provides no warranties or guarantees related to the property's title. It simply transfers the Granter's interest or claim to the property without any promises regarding clear ownership or defending against claims. When a limited partnership or LLC is involved in a property transaction in Odessa, Texas, it is important to consult with a qualified attorney or real estate professional who can guide the Granter or Grantee in choosing the most appropriate type of warranty deed. Understanding the different options and their implications ensures a smooth and legally sound transfer of property ownership.An Odessa Texas Warranty Deed for Limited Partnership or LLC is a legal document that serves as evidence of the transfer of ownership for real property between a Granter (the seller) who is a limited partnership or limited liability company (LLC), and a Grantee (the buyer). This specific type of warranty deed is used when a limited partnership or LLC is involved in the transaction. It ensures that the Granter has full legal right to sell the property and guarantees that they will defend the title against any claims made by third parties. In Odessa, Texas, there are different types of Warranty Deeds that can be used based on the specific needs of the Granter or Grantee. These include: 1. General Warranty Deed for Limited Partnership or LLC: This type of deed provides the highest level of protection to the Grantee as it includes both present and future warranties. The Granter guarantees that they have clear title to the property and will defend it against any claims made by others. 2. Special Warranty Deed for Limited Partnership or LLC: This deed also provides some level of protection to the Grantee, but the warranties are limited to only the time the Granter owned the property. It means that the Granter guarantees to defend against any claims that arise during their ownership period, but not prior to it. 3. Quitclaim Deed for Limited Partnership or LLC: Unlike the warranty deeds, a quitclaim deed provides no warranties or guarantees related to the property's title. It simply transfers the Granter's interest or claim to the property without any promises regarding clear ownership or defending against claims. When a limited partnership or LLC is involved in a property transaction in Odessa, Texas, it is important to consult with a qualified attorney or real estate professional who can guide the Granter or Grantee in choosing the most appropriate type of warranty deed. Understanding the different options and their implications ensures a smooth and legally sound transfer of property ownership.
