This form is a Warranty Deed where the Grantor is an individual and the Grantee is a limited liability partnership. Grantor conveys and warrants the described property to Grantee. This deed complies with all state statutory laws.
Phoenix Arizona Warranty Deed - Individual to Limited Liability Partnership (LLP)
Category:
State:
Arizona
City:
Phoenix
Control #:
AZ-053-78
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Arizona Warranty Deed - Individual To Limited Liability Partnership (LLP)?
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FAQ
Limited Liability Partnerships: LLPs are relatively new business structures in Arizona. As a result, new businesses that want to form an LLP must file a Combined Certificate of Limited Partnership & Statement of Qualification to be a Limited Liability Partnership with the Secretary of State.
A partnership is formed by 'persons carrying on a business in common with a view of profit' and as such the partners in a partnership can be individuals, corporations, other partnerships or a combination of these. This means, for example, that a joint venture of corporations can be carried on by way of a partnership.
Here are the basic steps to forming a partnership: Choose a business name. Register a fictitious business name. Draft and sign a partnership agreement.
In basic terms, the owners of an LLP are considered partners in an organization, while the owners of an LLC are members. As a result, there are key differences between how the limited liability protection is recognized, how an LLC and LLP are managed and how each structure is taxed.
About 40 states allow the formation of an LLP, and the laws vary by state. Some states limit what professions can form an LLP, so check your state statutes.
Although not legally required, the partners should consider registering the trade name of the partnership with the Arizona Secretary of State. A partnership requires at least two partners. Arizona law does not restrict the number or types of partners in a general partnership.
To have a general partnership, two conditions must be true: The company must have two or more owners. All partners must agree to have unlimited personal responsibility for any debts or legal liabilities the partnership might incur.
Steps to Create an Arizona General Partnership Determine if you should start a general partnership. Choose a business name. File a DBA name (if needed) Draft and sign partnership agreement. Obtain licenses, permits, and clearances. Get an Employer Identification Number (EIN) Get Arizona state tax identification numbers.
Deeds must be signed in the presence of a notary and recorded with the county recorder's office in the county in which the property is located. Recording (A.R.S. § 11-468) ? All deeds must be filed with the County Recorder's Office.
LLPs and LLLPs are required to register with the Arizona Secretary of State. Limited Liability Company (LLC) and Corporations: Should you decide to create a limited liability company or corporation, you must file with the Arizona Corporation Commission.