This form is a General Warranty Deed where the grantors are three individuals and the grantee is a limited partnership.
A Fort Worth Texas General Warranty Deed for Three Individuals to Limited Partnership is a legal document that serves as evidence of the transfer of ownership of real property from three individuals to a limited partnership. This type of deed provides a guarantee that the property is being transferred free and clear of any encumbrances or defects in title. The deed includes the names and addresses of the granters (the three individuals transferring the property) and the grantee (the limited partnership that will receive ownership). It also contains a legally accurate description of the property being transferred, including its boundaries, location, and any improvements or structures on the land. The deed will typically state that the granters have full legal authority to transfer the property and that they are conveying their entire interest in the property to the limited partnership. It may also include representations that the property is free from any undisclosed liens, claims, or other adverse interests. There may be variations of Fort Worth Texas General Warranty Deed for Three Individuals to Limited Partnership, such as: 1. General Warranty Deed with Joint Tenancy: This type of deed is used when the three individuals hold joint tenancy ownership of the property and wish to transfer it to a limited partnership. Joint tenancy means that all three individuals have equal ownership rights and, if one were to pass away, the remaining joint tenants would absorb their interest. 2. General Warranty Deed with Tenants in Common: This variation applies when the three individuals hold tenancy in common ownership of the property. Unlike joint tenancy, tenants in common can have unequal ownership interests and can sell or transfer their share without the consent of the other owners. Regardless of the specific variation, the purpose of these deeds remains the same — to legally transfer the ownership of real property from three individuals to a limited partnership, with a guarantee that the property is free from any defects in title. These deeds are essential legal documents that protect the interests of both parties involved in the transaction and provide peace of mind to the limited partnership in acquiring the property.
