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Colorado Warranty Deed - Individual to a Limited Liability Company

Limited Liability Company Colorado

Name: Colorado Warranty Deed - Individual to a Limited Liability Company
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.73 (341 reviews)

Category:

Colorado Real Estate - Deeds - Warranty

State:

Colorado

Control #:

CO-SDEED-8-30

Format:

Instant download

Description

This form is a Warranty Deed where the Grantor is an Individual and the Grantee is a limited liability company. Grantor conveys and warrants the described property to the Grantee. This deed complies with all state statutory laws.

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How to fill out Colorado Warranty Deed - Individual To A Limited Liability Company?

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FAQ

Failure to record a deed effectively makes it impossible for the public to know about the transfer of a property. That means the legal owner of the property appears to be someone other than the buyer, a situation that can generate serious ramifications.

Choose a name for your LLC. File Articles of Organization. Choose a registered agent. Decide on member vs. manager management. Create an LLC operating agreement. Comply with other tax and regulatory requirements. File annual reports. Out of state LLC registration.

Let's start with the definition of a deed: DEED: A written instrument by which one party, the Grantor, conveys the title of ownership in property to another party, the Grantee. A Warranty Deed contains promises, called covenants, that the Grantor makes to the Grantee.

A warranty deed guarantees that: The grantor is the rightful owner of the property and has the legal right to transfer the title.The title would withstand third-party claims to ownership of the property. The grantor will do anything to ensure the grantee's title to the property.

In order to make the Warranty Deed legally binding, the Seller needs to sign it front of a notary public. Then signed and notarized deed must be filed at the city or county office for recording property documents. Before filing with this office all previously billed property taxes must be paid in full.

Contrary to normal expectations, the Deed DOES NOT have to be recorded to be effective or to show delivery, and because of that, the Deed DOES NOT have to be signed in front of a Notary Public. However, if you plan to record it, then it does have to be notarized as that is a County Recorder requirement.

Typically, the lender will provide you with a copy of the deed of trust after the closing. The original warranty deeds are often mailed to the grantee after they are recorded. These are your original copies and should be kept in a safe place, such as a fireproof lockbox or a safe deposit box at a financial institution.

It's important to note that a warranty deed does not actually prove the grantor has ownership (a title search is the best way to prove that), but it is a promise by the grantor that they are transferring ownership and if it turns out they don't actually own the property, the grantor will be responsible for compensating

Review your Operating Agreement and Articles of Organization. Establish What Your Buyer Wants to Buy. Draw Up a Buy-Sell Agreement with the New Buyer. Record the Sale with the State Business Registration Agency.

Limited Liability Company Colorado

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What happens if you don't record a deed?

What does someone have to file to form a limited liability company?

What is the difference between a deed and a warranty deed?

Does a warranty deed mean you own the property?

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Does a warranty deed need to be recorded?

Who keeps original warranty deed?

Does a warranty deed prove ownership?

How do you transfer ownership of a single member LLC?

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