This form is a Special Warranty Deed where the grantor is an LLC and the grantee is an individual.
Collin Texas Special Warranty Deed is a legal document used in Collin County, Texas, to transfer ownership of property from a Limited Liability Company (LLC) to an individual. It guarantees that the LLC has not intentionally encumbered or impaired the property during its ownership. This type of Special Warranty Deed ensures that the LLC selling the property will defend the new individual owner against any claims made by third parties during the time the LLC owned the property. It also guarantees that the LLC will compensate the new owner for any future losses incurred due to title defects that originated during the LLC's ownership. There are several types of Collin Texas Special Warranty Deed for LLC to Individual, including: 1. General Collin Texas Special Warranty Deed for LLC to Individual: This is the most common type of Special Warranty Deed used in Collin County and provides the basic warranty protections mentioned above. 2. Limited Collin Texas Special Warranty Deed for LLC to Individual: This type of Special Warranty Deed limits the warranty protections provided by the LLC selling the property. It may exclude certain types of claims or defects, such as those already known to the new owner or those arising from events occurring before the LLC's ownership. 3. Bargain and Sale Collin Texas Special Warranty Deed for LLC to Individual: This type of Special Warranty Deed implies that the LLC selling the property has the right to do so but does not provide any warranty protection against defects in the title. The new individual owner assumes all risks associated with the property's ownership. When completing a Collin Texas Special Warranty Deed for LLC to Individual, it is essential to include relevant information such as the legal description of the property, the names of the LLC and individual parties involved, the purchase price (if applicable), and any specific terms or conditions of the transfer. It is advisable to consult an experienced real estate attorney to ensure the accuracy and legality of the document. Overall, a Collin Texas Special Warranty Deed for LLC to Individual is a crucial legal instrument used in property transactions to protect the rights and interests of both the LLC and the individual buyer.Collin Texas Special Warranty Deed is a legal document used in Collin County, Texas, to transfer ownership of property from a Limited Liability Company (LLC) to an individual. It guarantees that the LLC has not intentionally encumbered or impaired the property during its ownership. This type of Special Warranty Deed ensures that the LLC selling the property will defend the new individual owner against any claims made by third parties during the time the LLC owned the property. It also guarantees that the LLC will compensate the new owner for any future losses incurred due to title defects that originated during the LLC's ownership. There are several types of Collin Texas Special Warranty Deed for LLC to Individual, including: 1. General Collin Texas Special Warranty Deed for LLC to Individual: This is the most common type of Special Warranty Deed used in Collin County and provides the basic warranty protections mentioned above. 2. Limited Collin Texas Special Warranty Deed for LLC to Individual: This type of Special Warranty Deed limits the warranty protections provided by the LLC selling the property. It may exclude certain types of claims or defects, such as those already known to the new owner or those arising from events occurring before the LLC's ownership. 3. Bargain and Sale Collin Texas Special Warranty Deed for LLC to Individual: This type of Special Warranty Deed implies that the LLC selling the property has the right to do so but does not provide any warranty protection against defects in the title. The new individual owner assumes all risks associated with the property's ownership. When completing a Collin Texas Special Warranty Deed for LLC to Individual, it is essential to include relevant information such as the legal description of the property, the names of the LLC and individual parties involved, the purchase price (if applicable), and any specific terms or conditions of the transfer. It is advisable to consult an experienced real estate attorney to ensure the accuracy and legality of the document. Overall, a Collin Texas Special Warranty Deed for LLC to Individual is a crucial legal instrument used in property transactions to protect the rights and interests of both the LLC and the individual buyer.
