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 real estate transactions to transfer ownership rights from a limited liability company (LLC) to an individual within the city of McKinney, Texas. This type of deed provides certain guarantees and protections to the buyer, known as the grantee, regarding the property's title history. In McKinney, Texas, there are two main types of special warranty deeds frequently used when transferring ownership from an LLC to an individual: 1. McKinney Texas Special Warranty Deed for LLC to Individual — Residential Property: This type of special warranty deed is specifically tailored for the transfer of residential properties within McKinney, Texas. It includes details such as the property's legal description, the purchase price, and any specific conditions or restrictions on the deed. 2. McKinney Texas Special Warranty Deed for LLC to Individual — Commercial Property: This variant of the special warranty deed is designed for transferring ownership of commercial properties in McKinney, Texas. It encompasses the same essential elements as the residential special warranty deed, but with additional clauses and provisions to address the specific nuances of commercial real estate. When executing a special warranty deed, both the LLC, acting as the granter, and the individual, acting as the grantee, must be explicitly mentioned. The deed also outlines the LLC's limited warranty regarding the title. Unlike a general warranty deed where the granter guarantees the title against all past claims, the special warranty deed assures the buyer that the granter only warrants against any claims or encumbrances created by the granter themselves during their ownership. To complete the transfer, the deed must be signed by an authorized representative of the LLC and notarized. It is highly recommended seeking legal guidance throughout the process to ensure compliance with McKinney, Texas, and state-specific regulations. In summary, a McKinney Texas Special Warranty Deed for LLC to an individual is a legal document used to transfer ownership of residential or commercial properties from an LLC to an individual in McKinney, Texas. It offers certain protections and warranties regarding the property's title, with distinct versions available for residential and commercial real estate transactions.A special warranty deed is a legal document used in real estate transactions to transfer ownership rights from a limited liability company (LLC) to an individual within the city of McKinney, Texas. This type of deed provides certain guarantees and protections to the buyer, known as the grantee, regarding the property's title history. In McKinney, Texas, there are two main types of special warranty deeds frequently used when transferring ownership from an LLC to an individual: 1. McKinney Texas Special Warranty Deed for LLC to Individual — Residential Property: This type of special warranty deed is specifically tailored for the transfer of residential properties within McKinney, Texas. It includes details such as the property's legal description, the purchase price, and any specific conditions or restrictions on the deed. 2. McKinney Texas Special Warranty Deed for LLC to Individual — Commercial Property: This variant of the special warranty deed is designed for transferring ownership of commercial properties in McKinney, Texas. It encompasses the same essential elements as the residential special warranty deed, but with additional clauses and provisions to address the specific nuances of commercial real estate. When executing a special warranty deed, both the LLC, acting as the granter, and the individual, acting as the grantee, must be explicitly mentioned. The deed also outlines the LLC's limited warranty regarding the title. Unlike a general warranty deed where the granter guarantees the title against all past claims, the special warranty deed assures the buyer that the granter only warrants against any claims or encumbrances created by the granter themselves during their ownership. To complete the transfer, the deed must be signed by an authorized representative of the LLC and notarized. It is highly recommended seeking legal guidance throughout the process to ensure compliance with McKinney, Texas, and state-specific regulations. In summary, a McKinney Texas Special Warranty Deed for LLC to an individual is a legal document used to transfer ownership of residential or commercial properties from an LLC to an individual in McKinney, Texas. It offers certain protections and warranties regarding the property's title, with distinct versions available for residential and commercial real estate transactions.
