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.
Wisconsin Warranty Deed from two Individuals to LLC
Category:
State:
Wisconsin
Control #:
WI-04-78
Format:
Word;
Rich Text
Instant download
Description
Definition and meaning
A Wisconsin Warranty Deed is a legal document that transfers ownership of real estate from two individuals to a Limited Liability Company (LLC). This deed guarantees that the grantors hold the title free from any claims or encumbrances, except those specifically noted within the document. The warranty deed serves as a protection for the grantee (the LLC), ensuring that the property is free from undisclosed liens or legal issues.
How to complete a form
Completing a Wisconsin Warranty Deed involves a few essential steps:
- Begin by entering the names of the two individuals (grantors) transferring the property.
- Specify the name of the LLC (grantee) receiving the property.
- Provide the complete address and legal description of the property being transferred.
- Fill in the Parcel Identification Number (PIN) for the property.
- Indicate prior instrument reference details, including Book, Page, and Document Number.
- Sign the document in the presence of a notary public or authorized individual, depending on specific requirements.
Ensure that all relevant areas of the form are filled out accurately to prevent delays in the transfer process.
Key components of the form
The key components of a Wisconsin Warranty Deed include:
- Grantors: The individuals transferring the property.
- Grantee: The LLC receiving the property.
- Property description: A detailed description of the property to ensure clarity.
- Prior instrument reference: Information to trace the property's historical ownership.
- Notarization: Verification of identity and signatures by a notary public.
These components are crucial to establish a clear and legally binding transfer of property.
Legal use and context
The Wisconsin Warranty Deed from two Individuals to an LLC is employed in situations where individuals wish to transfer ownership of property into a business structure. This is commonly used for asset protection, estate planning, or separating personal and business assets. The legal context surrounding this form ensures that the transfer adheres to state laws, making it enforceable in a court of law.
What to expect during notarization or witnessing
During notarization of the Wisconsin Warranty Deed, the grantors will need to present valid identification to the notary public. The notary will verify the identities, witness the signing of the deed, and then affix their seal. The process is typically straightforward and may take just a few minutes. It is essential to ensure that all parties are present for the signing to avoid any complications later on.
Common mistakes to avoid when using this form
When completing a Wisconsin Warranty Deed, be mindful of the following common mistakes:
- Failing to provide a complete legal description of the property.
- Not including the Parcel Identification Number (PIN).
- Omitting necessary notarization and signatures.
- Leaving out the prior instrument reference details.
- Not adequately reviewing all entries for accuracy.
Avoiding these mistakes will help ensure a smooth transfer process.
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How to fill out Wisconsin Warranty Deed From Two Individuals To LLC?
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FAQ
A warranty deed, also known as a general warranty deed, is a legal real estate document between the seller (grantor) and the buyer (grantee). The deed protects the buyer by pledging that the seller holds clear title to the property and there are no encumbrances, outstanding liens, or mortgages against it.
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.
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.
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.