warranty deed to trustee-Lease Options

What are the terms and conditions of the Warranty Deed To Trustee

The Warranty Deed To Trustee is a legal document which describes that together with the hereditaments as well as tenements and appurtenances, the trustee has the rights to hold the premises for uses and purposes which are detailed in the Trust agreement.

The trustee is given full power as well as full authority with regards the premises and parts of it for all times and can subdivide the premises or dedicate streets, parks, highways, alleys as well as can vacate the subdivisions or any part and can resubdivide the property for as many times as he or she desires. The trustee as per the Warranty Deed To Trustee also has the right to sell or donate or mortgage or pledge the property or parts of the property for any period of time which is done by leases. He or she can also change or modify whatever terms and provisions are there and make leases and grant leases and even renew leases of the mentioned property.

However, no party can deal with the trustee with regards to the premises and ask to see the rent or money that has been borrowed or advanced for the premises or even see that the trust terms are complied with.

The interest of the persons who fall under the trust are only with regards the earnings as well as the proceeds of the sale or the disposal of the real estate but the beneficiary shall not have the title but will only get the proceeds of the interest of the earnings.

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STATE OF ____________________

COUNTY OF ____________________

WARRANTY DEED TO TRUSTEE

THE GRANTOR(S), ___________________________________, of the County of ________________, and the state of __________________, for and in consideration of Ten and No/100—- Dollars, and other good and valuable considerations in hand paid, conveys, grants, bargains, sells, aliens, remises, releases, confirms and warrants

UNTO ___________________________________, as Trustee and not personally under the provisions of a trust agreement dated ____________________________ known as _________________________, the following described real estate in the county of __________, state of ________________, being further described as:

<< SEE EXHIBIT “A” FOR LEGAL DESCRIPTION >>

also known by street address as _______________________________.

TOGETHER with all the tenements, hereditaments and appurtenances thereto, belonging or in anywise appertaining.

TO HAVE AND TO HOLD the said premises in fee simple forever, with the appurtenances attached thereto upon the trust and for the uses and purposes herein and in said Trust Agreement set forth.

FULL POWER AND AUTHORITY granted to said Trustee, with respect to the said premises or any part of it, and at any time or times, to subdivide said premises or any part thereof, to dedicate parks, streets, highways or alleys and to vacate any subdivision or part thereof, and to resubdivide said property as often as desired, to contract to sell, to grant options to purchase, to sell on any terms, to convey either with or without consideration, to donate, to mortgage, pledge or otherwise encumber said property, or any part thereof, to lease said property, or any part, from time to time, in possession or reversion by leases to commence now or later, and upon any terms and for any period or periods of time, and to amend, change or modify the terms and provisions thereof at any time hereafter, to contract to make leases and to grant options to lease and options to renew leases and options to purchase the whole or any part of the reversion and to contract respecting the manner of fixing the amount of future renters, to partition or exchange the said property or any part thereof for other real or personal property, to grant easements or changes of any kind, to release, convey or assign any right, title or interest in or about easement appurtenant to said premises or any part thereof, and to deal with said property and every part thereof in all other ways and for such other considerations as it would be lawful for any person owning the same to deal with the same, whether similar to or different from the ways above specified, at any time or times hereafter.

IN NO CASE shall any party dealing with said trustee in relation to said premises, to whom said premises or any part thereof shall be conveyed, contracted to be sold, leased or mortgaged by said trustee, be obliged to see to the application of any purchase money, rent or money borrowed or advanced on said premises, or be obliged to see that the terms of this trust have been complied with, or be obliged to inquire into the necessity of expediency of any act of said trustee, or be obliged or privileged to inquire into any terms of said trust agreement; and every deed, mortgage, lease, or other instrument executed by said trustee in relation to said real estate shall be conclusive evidence in favor of every person relying upon or claiming under such conveyance, lease or other instrument, (a) that at the same time of delivery thereof, the Trust created by this Indenture, and by said Trust Agreement was in full force and effect, (b) that such conveyance or other instrument was executed in full accordance if the trust’s constitutions and limitations contained herein and in said trust agreement or in some amendment thereof and binding upon all beneficiaries thereunder and (c) that said Trustee was duly authorized and empowered to execute and deliver every such deed, trust deed, lease, mortgage or other instrument.

THE INTEREST of each and every beneficiary hereunder and of all persons claiming under them or any of them shall be only in the earnings, avails and proceeds arising from the sale or other disposition of said real estate, and such interest is hereby declared to be personal property.  No beneficiary hereunder shall have any title or interest, legal or equitable, in or to said real estate as such, but only as interest in the earnings, avails and proceeds thereof as aforesaid.

AND as the grantor hereby covenants with said grantee that the grantor is lawfully seized of said land in fee simple, that the grantor has good right and lawful authority to sell and convey said land and will defend the same against the lawful claims of all persons whomsoever; and that the said land is free of all encumbrances.

This Deed is transferred subject to the encumbrances specified in Exhibit “B”, attached hereto and incorporated herein by this reference.

IN WITNESS WHEREOF, the said grantor has hereunto set their hands and seals this _____ day of _____________________________.

_____________________________________________________(Seal)
Grantor

_____________________________________________________(Seal)
Grantor

_____________________________________________________(Seal)
Witness

On _________________, 20____, before me, ______________________, a notary public in and for said state personally appeared ____________________________, personally known to me (or proved to me based on satisfactory evidence) to be the person(s) whose name(s) are subscribed to the within instrument and acknowledged that (s)he/they the same in his/her/their signature on the instrument the person(s) or entity on behalf of which they acted, executed the instrument.

____________________________________
Signature of Notary                        [SEAL]