This form is a Special Warranty Deed where the grantor is an LLC and the grantee is an individual.
A special warranty deed is a legal document used in the state of Texas to transfer ownership of property from an LLC (Limited Liability Company) to an individual. It provides certain assurances and protections to the grantee (the individual receiving the property) regarding the title history of the property. Specific to Grand Prairie, Texas, there may not be different types of special warranty deeds for LLC to individual transfers, but variations in the language and terms used may exist. A special warranty deed is commonly used in real estate transactions and is distinct from a general warranty deed. While a general warranty deed guarantees clear and marketable title to the property, a special warranty deed provides a more limited guarantee. It assures that the granter (the LLC) has not caused any defects in the title during their period of ownership, unlike a general warranty deed that also covers defects prior to the granter's ownership. The key purpose of a special warranty deed is to protect the grantee from any claims or issues arising from the period when the LLC owned the property. This deed assures that the property has not suffered any encumbrances, liens, or legal issues caused by the LLC. However, it does not offer protection against any claims or issues that may have existed prior to the LLC's ownership. In a Grand Prairie Texas special warranty deed for LLC to individual, the document typically includes the following essential information: 1. Name and identification of the LLC acting as the granter. 2. Name and identification of the individual (grantee) receiving the property. 3. Detailed legal description of the property being transferred, including its physical address, lot number, and any other relevant information to precisely identify the parcel. 4. Statement indicating that the transfer is made subject to all legal standards, statutes, and governing bodies associated with real estate transactions in Grand Prairie, Texas. 5. Statement affirming the granter's ownership of the property and that no defects, encumbrances, or liens have been caused by the LLC during its period of ownership. 6. Clause indicating any exclusions or exceptions to the warranty, if applicable. 7. Signatures of the representative(s) of the LLC, commonly executed by a managing member or authorized officer. 8. Notary acknowledgment, attesting to the validity of the signatures and the granter's understanding and consent in executing the deed. It is important for both the granter and the grantee to understand the contents and significance of a special warranty deed before entering into a transfer agreement. Consulting with legal professionals or title experts can ensure a smooth and legally sound transaction.A special warranty deed is a legal document used in the state of Texas to transfer ownership of property from an LLC (Limited Liability Company) to an individual. It provides certain assurances and protections to the grantee (the individual receiving the property) regarding the title history of the property. Specific to Grand Prairie, Texas, there may not be different types of special warranty deeds for LLC to individual transfers, but variations in the language and terms used may exist. A special warranty deed is commonly used in real estate transactions and is distinct from a general warranty deed. While a general warranty deed guarantees clear and marketable title to the property, a special warranty deed provides a more limited guarantee. It assures that the granter (the LLC) has not caused any defects in the title during their period of ownership, unlike a general warranty deed that also covers defects prior to the granter's ownership. The key purpose of a special warranty deed is to protect the grantee from any claims or issues arising from the period when the LLC owned the property. This deed assures that the property has not suffered any encumbrances, liens, or legal issues caused by the LLC. However, it does not offer protection against any claims or issues that may have existed prior to the LLC's ownership. In a Grand Prairie Texas special warranty deed for LLC to individual, the document typically includes the following essential information: 1. Name and identification of the LLC acting as the granter. 2. Name and identification of the individual (grantee) receiving the property. 3. Detailed legal description of the property being transferred, including its physical address, lot number, and any other relevant information to precisely identify the parcel. 4. Statement indicating that the transfer is made subject to all legal standards, statutes, and governing bodies associated with real estate transactions in Grand Prairie, Texas. 5. Statement affirming the granter's ownership of the property and that no defects, encumbrances, or liens have been caused by the LLC during its period of ownership. 6. Clause indicating any exclusions or exceptions to the warranty, if applicable. 7. Signatures of the representative(s) of the LLC, commonly executed by a managing member or authorized officer. 8. Notary acknowledgment, attesting to the validity of the signatures and the granter's understanding and consent in executing the deed. It is important for both the granter and the grantee to understand the contents and significance of a special warranty deed before entering into a transfer agreement. Consulting with legal professionals or title experts can ensure a smooth and legally sound transaction.
