This form is a Warranty or Grant 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.
Virginia Warranty Deed from Individual to Limited Liability Company
Category:
State:
Virginia
Control #:
VA-024-78
Format:
Word;
Rich Text
Instant download
Description
Definition and meaning
A Virginia Warranty Deed from Individual to Limited Liability Company is a legal document that facilitates the transfer of property ownership from an individual (the grantor) to a limited liability company (the grantee). This type of deed provides a guarantee that the grantor holds clear title to the property and has the right to transfer it. The warranty deed also ensures that there are no undisclosed encumbrances against the property.
How to complete a form
To complete the Virginia Warranty Deed from Individual to Limited Liability Company, follow these steps:
- Download the form from a reputable source.
- Fill in the grantor’s name and address at the top of the form.
- Specify the name of the limited liability company being conveyed the property.
- Include a legal description of the property, which may need to be attached as an exhibit.
- Sign and date the deed in the presence of a notary public to validate the document.
Who should use this form
This form is specifically designed for individuals who wish to transfer ownership of real estate to a limited liability company. It is particularly useful for property owners looking to protect their personal assets by placing their property into a business entity, such as an LLC. This type of deed is also applicable for business owners wishing to formalize business property ownership under the LLC structure.
Key components of the form
The Virginia Warranty Deed from Individual to Limited Liability Company includes several vital components:
- Grantor and Grantee Information: Identifies the person transferring the property and the LLC receiving it.
- Legal Description: A detailed description of the real estate being transferred, often requiring an attachment.
- Consideration: The amount of money or value exchanged during the transfer, typically denoted as ten dollars for consideration purposes.
- Warranties: Declarations from the grantor affirming they own the property free from encumbrances.
What documents you may need alongside this one
When completing the Virginia Warranty Deed from Individual to Limited Liability Company, consider having these documents on hand:
- Previous deed or title documentation.
- Any existing property surveys.
- Legal identification for both grantor and grantee.
- Affidavit of identification or authenticity, if required.
What to expect during notarization or witnessing
When you take the Virginia Warranty Deed from Individual to Limited Liability Company to a notary public, you will need to:
- Present valid identification to prove your identity.
- Sign the document in front of the notary.
- Have the notary complete their section, which includes affixing their seal and signature.
This step is crucial for the legal validity of the deed, ensuring the transfer can be properly recorded.
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FAQ
Retrieve your original deed. Get the appropriate deed form. Draft the deed. Sign the deed before a notary. Record the deed with the county recorder. Obtain the new original deed.
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.
Limited Warranty Deeds In a Limited Warranty Deed, the seller usually gives two warranties. The seller only warrants to the buyer that: The seller personally has not done anything to the title that the seller received.
The only way to forcibly change the ownership status is through a legal action and the resultant court order. However, if an owner chooses to be removed from the deed, it is simply a matter of preparing a new deed transferring that owner's interest in the property.
In a Limited Warranty Deed, the seller usually gives two warranties. The seller only warrants to the buyer that:This is a very limited warranty in comparison to the broad warranty in a General Warranty Deed where the seller warrants that the seller not only owns the property, but also all rights in the property.
Locate the most recent deed to the property. Create the new deed. Sign and notarize the new deed. Record the deed in the land records of the clerk's office of the circuit court in the jurisdiction where the property is located.
The only way to change a recorded deed is to have a new deed prepared and recorded in the Clerk's Land Records Office. The deed on record cannot be changed. Once a document is recorded, it cannot be changed.
Locate the most recent deed to the property. Create the new deed. Sign and notarize the new deed. Record the deed in the land records of the clerk's office of the circuit court in the jurisdiction where the property is located.
A special warranty deed is a common form of conveyance in Virginia that is used to transfer title to real estate. Unless an exception is made in the deed, all appurtenances, buildings, and privileges belonging to the land being conveyed will be included in the conveyance (55.1-303).