WARRANTY DEED TO TRUSTEE

 

WARRANTY DEED TO TRUSTEE

 

 

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.

Grantee accepts the conveyance of the Property subject to a note which is described in and secured by a Deed of Trust recorded under Clerk=s File No.                .  Grantee does not assume payment of the note or liability under any instrument securing it.  By this deed, Grantor does hereby assign, transfer and deliver to Grantee all of Grantor=s interest in the funds held in the existing escrow account, if any, with the lienholder, its successors and assigns.  Further, by this deed Grantor does hereby transfer and assign to Grantee all of Grantor=s right, title and interest to any unearned insurance premium that may exist at this time as well as Grantor=s interest in any insurance claims, past, present or future, relating to the Property.

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 afresaid.

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 ___________________________ to ___________________________ recorded in ___________________________ in the Clerk and Recorder of ___________________________ County.

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

_______________________________________________________________(Seal)
Grantor

_______________________________________________________________(Seal)
Grantor

Sworn to and described before me this ______ day of _______________, 20____.

________________________________________    ____________________________________________
Witness                            Notary Public

(Seal)

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