This form is a General Warranty Deed where the grantors are three individuals and the grantee is a limited partnership.
Lewisville Texas General Warranty Deed for Three Individuals to Limited Partnership is a legal document used to transfer ownership of real estate from three individual owners to a limited partnership, ensuring that the title of the property is clear and free of any encumbrances. This type of deed provides a guarantee to the limited partnership that the granters have lawful ownership of the property and that they have full rights to transfer the property. The Lewisville Texas General Warranty Deed for Three Individuals to Limited Partnership is typically used when three individuals want to contribute their ownership rights to a limited partnership entity for various purposes, such as investment, business operations, or estate planning. This deed offers protection to the limited partnership by providing assurances that the property is not subject to any liens, claims, or judgments. Some key features of the Lewisville Texas General Warranty Deed for Three Individuals to Limited Partnership include: 1. Identifying Information: The deed begins by clearly identifying the three individuals (granters) who currently hold ownership of the property, along with their legal addresses. Additionally, the limited partnership (grantee) is also identified, including its legal name and address. 2. Property Description: The deed includes a detailed and precise description of the property being transferred, including the legal description, parcel number, and any other identifying information necessary to accurately identify the property. 3. Granter's Warranty: The deed explicitly states that the granters have full power and authority to transfer the property and that they guarantee to the limited partnership that the title is clear, unencumbered, and free from any defects or claims. 4. Indemnification Clause: The deed may include an indemnification clause, which holds the granters financially responsible for any future claims or legal actions related to the property being transferred. 5. Signature and Notarization: All granters must sign the deed in the presence of a notary public, who will also affix their official seal to the document. This step ensures the legality and authenticity of the transfer. Different variations or specialized versions of the Lewisville Texas General Warranty Deed for Three Individuals to Limited Partnership may exist based on specific circumstances or requirements. These variations might include additional clauses or provisions tailored to the nature of the partnership or the specific intended use of the property. In conclusion, the Lewisville Texas General Warranty Deed for Three Individuals to Limited Partnership is a crucial legal document for transferring property ownership from three individuals to a limited partnership entity. This deed provides assurance to the limited partnership that the property is free from any defects or claims, thus safeguarding their investment and rights.Lewisville Texas General Warranty Deed for Three Individuals to Limited Partnership is a legal document used to transfer ownership of real estate from three individual owners to a limited partnership, ensuring that the title of the property is clear and free of any encumbrances. This type of deed provides a guarantee to the limited partnership that the granters have lawful ownership of the property and that they have full rights to transfer the property. The Lewisville Texas General Warranty Deed for Three Individuals to Limited Partnership is typically used when three individuals want to contribute their ownership rights to a limited partnership entity for various purposes, such as investment, business operations, or estate planning. This deed offers protection to the limited partnership by providing assurances that the property is not subject to any liens, claims, or judgments. Some key features of the Lewisville Texas General Warranty Deed for Three Individuals to Limited Partnership include: 1. Identifying Information: The deed begins by clearly identifying the three individuals (granters) who currently hold ownership of the property, along with their legal addresses. Additionally, the limited partnership (grantee) is also identified, including its legal name and address. 2. Property Description: The deed includes a detailed and precise description of the property being transferred, including the legal description, parcel number, and any other identifying information necessary to accurately identify the property. 3. Granter's Warranty: The deed explicitly states that the granters have full power and authority to transfer the property and that they guarantee to the limited partnership that the title is clear, unencumbered, and free from any defects or claims. 4. Indemnification Clause: The deed may include an indemnification clause, which holds the granters financially responsible for any future claims or legal actions related to the property being transferred. 5. Signature and Notarization: All granters must sign the deed in the presence of a notary public, who will also affix their official seal to the document. This step ensures the legality and authenticity of the transfer. Different variations or specialized versions of the Lewisville Texas General Warranty Deed for Three Individuals to Limited Partnership may exist based on specific circumstances or requirements. These variations might include additional clauses or provisions tailored to the nature of the partnership or the specific intended use of the property. In conclusion, the Lewisville Texas General Warranty Deed for Three Individuals to Limited Partnership is a crucial legal document for transferring property ownership from three individuals to a limited partnership entity. This deed provides assurance to the limited partnership that the property is free from any defects or claims, thus safeguarding their investment and rights.
