This form is a General Warranty Deed where the grantors are three individuals and the grantee is a limited partnership.
Frisco, Texas General Warranty Deed for Three Individuals to Limited Partnership: A Comprehensive Guide In Frisco, Texas, a General Warranty Deed for Three Individuals to Limited Partnership is a legal document that facilitates the transfer of property ownership from three individuals to a limited partnership entity. This deed provides a guarantee to the limited partnership and its members, ensuring that the property being transferred is free from any past, present, or future claims that may arise regarding the title, except for those specifically mentioned or stated in the deed. The Frisco Texas General Warranty Deed for Three Individuals to Limited Partnership typically includes the following key components: 1. Parties Involved: The deed will identify the three individuals, known as granters or sellers, along with their legal names and addresses. It will also specify the name of the limited partnership, referred to as grantee or buyer. 2. Property Description: A detailed description of the property being transferred is included in the deed. This description may include street address, boundaries, lot number, and any other relevant information to accurately identify the property. 3. Consideration: The deed should state the consideration, which is the amount of money or other valuables exchanged for the property. This represents the agreed-upon value of the property being transferred. 4. Covenants and Warranties: The Frisco Texas General Warranty Deed includes essential covenants and warranties that ensure the transfer of a clear and marketable title to the property. These covenants typically include: a. Covenant of Basin: Assures that the granter legally owns the property and has the right to transfer its ownership. b. Covenant of Right to Convey: Affirms that the granter has the legal authority to transfer the property. c. Covenant Against Encumbrances: Guarantees that the property is free from any mortgages, liens, or other encumbrances, except for those explicitly listed. d. Covenant of Quiet Enjoyment: Ensures that the grantee will not face any legal claims from third parties challenging their ownership rights. e. Covenant of Warranty: Promises that the granter will protect the grantee against any future claims against the property title. 5. Notary Acknowledgment: The deed must be signed by all granters and notarized for its validity. Different types of Frisco Texas General Warranty Deed for Three Individuals to Limited Partnership may include variations based on specific requirements or modifications desired by the parties involved. These variations might include: 1. Granters/Grantees: The names and addresses of the individuals and limited partnership involved may differ, but the overall structure and purpose of the deed will remain the same. 2. Additional Clauses: Parties may add additional clauses or provisions to ensure that specific concerns or considerations unique to their agreement are addressed. These can include contingencies, disclaimers, or any other specific provisions desired by the granter or grantee. It is crucial to consult with an attorney or legal professional experienced in real estate transactions to draft or review the Frisco Texas General Warranty Deed for Three Individuals to Limited Partnership to ensure compliance with Texas laws and to satisfy the specific needs of the parties involved.Frisco, Texas General Warranty Deed for Three Individuals to Limited Partnership: A Comprehensive Guide In Frisco, Texas, a General Warranty Deed for Three Individuals to Limited Partnership is a legal document that facilitates the transfer of property ownership from three individuals to a limited partnership entity. This deed provides a guarantee to the limited partnership and its members, ensuring that the property being transferred is free from any past, present, or future claims that may arise regarding the title, except for those specifically mentioned or stated in the deed. The Frisco Texas General Warranty Deed for Three Individuals to Limited Partnership typically includes the following key components: 1. Parties Involved: The deed will identify the three individuals, known as granters or sellers, along with their legal names and addresses. It will also specify the name of the limited partnership, referred to as grantee or buyer. 2. Property Description: A detailed description of the property being transferred is included in the deed. This description may include street address, boundaries, lot number, and any other relevant information to accurately identify the property. 3. Consideration: The deed should state the consideration, which is the amount of money or other valuables exchanged for the property. This represents the agreed-upon value of the property being transferred. 4. Covenants and Warranties: The Frisco Texas General Warranty Deed includes essential covenants and warranties that ensure the transfer of a clear and marketable title to the property. These covenants typically include: a. Covenant of Basin: Assures that the granter legally owns the property and has the right to transfer its ownership. b. Covenant of Right to Convey: Affirms that the granter has the legal authority to transfer the property. c. Covenant Against Encumbrances: Guarantees that the property is free from any mortgages, liens, or other encumbrances, except for those explicitly listed. d. Covenant of Quiet Enjoyment: Ensures that the grantee will not face any legal claims from third parties challenging their ownership rights. e. Covenant of Warranty: Promises that the granter will protect the grantee against any future claims against the property title. 5. Notary Acknowledgment: The deed must be signed by all granters and notarized for its validity. Different types of Frisco Texas General Warranty Deed for Three Individuals to Limited Partnership may include variations based on specific requirements or modifications desired by the parties involved. These variations might include: 1. Granters/Grantees: The names and addresses of the individuals and limited partnership involved may differ, but the overall structure and purpose of the deed will remain the same. 2. Additional Clauses: Parties may add additional clauses or provisions to ensure that specific concerns or considerations unique to their agreement are addressed. These can include contingencies, disclaimers, or any other specific provisions desired by the granter or grantee. It is crucial to consult with an attorney or legal professional experienced in real estate transactions to draft or review the Frisco Texas General Warranty Deed for Three Individuals to Limited Partnership to ensure compliance with Texas laws and to satisfy the specific needs of the parties involved.
