This Warranty Deed from two Individuals to LLC form is a Warranty Deed where the Grantors are two individuals and the Grantee is a limited liability company. Grantors convey and warrant the described property to Grantee less and except all oil, gas and minerals, on and under the property owned by Grantors, if any, which are reserved by Grantors.
A Seattle Washington Warranty Deed from two Individuals to LLC is a legal document that facilitates the transfer of real estate ownership from two individuals to a limited liability company (LLC) located in Seattle, Washington. This type of deed ensures that the LLC receives the property with an assurance of clear title, protecting it against any future claims or disputes. The two individuals, referred to as granters, are the current owners of the property. The LLC, referred to as the grantee, is a separate legal entity formed by the individuals to hold and manage the property. By transferring the ownership to the LLC, the individuals can enjoy various benefits, including liability protection and potential tax advantages associated with conducting real estate transactions through an LLC. The Seattle Washington Warranty Deed typically contains several key elements: 1. Granter Information: The deed begins with the identification and contact details of the individuals transferring ownership. This includes their full names, addresses, and any other relevant identifying information. 2. Grantee Information: Following the granter information, the deed provides details about the LLC receiving the property, including its legal name, address, and any other pertinent information for identification purposes. 3. Property Description: A detailed description of the property being transferred is crucial for establishing clarity. This includes the property's address, legal description, parcel number, and any other relevant details that help to identify the specific real estate. 4. Warranty of Title: This section of the deed assures the grantee that the granters have full legal authority to transfer the property and that it is free of any liens, encumbrances, or claims. Essentially, it guarantees that the granters have the right to transfer a clear and marketable title to the LLC. 5. Consideration: The deed includes a provision for consideration, which indicates the value or compensation exchanged for the property. This can be monetary or an agreed-upon exchange of goods or services. 6. Signatures and Notarization: Both granters must sign the deed in the presence of a notary public to validate its authenticity. Notarization provides an additional layer of legal certainty by confirming the identity of the individuals executing the document. The Seattle Washington Warranty Deed from two Individuals to LLC may have different variations or subtypes, depending on specific circumstances or requirements, such as: 1. Joint Tenancy Deed: If two individuals hold the property as joint tenants, this type of deed is used to transfer their ownership interest to the LLC. Joint tenancy includes a right of survivorship, meaning if one owner passes away, their interest automatically transfers to the other owner(s). 2. Tenancy in Common Deed: In situations where two individuals own the property as tenants in common, this deed is utilized to transfer their respective ownership percentages to the LLC. Unlike joint tenancy, the tenants in common do not have rights of survivorship, and their interests can be inherited or transferred independently. These variations ensure that the appropriate legal documentation is used to accurately reflect the existing ownership structure and transfer the property to the LLC properly.
