Fill and Sign the Sc Limited Company Form

© 2016 - U.S. Legal Forms, Inc.       SOUTH CAROLINA QUITCLAIM DEED {Limited Liability Company to Limited Liability Company} Control Number: SC-023-77 I. TIPS ON COMPLETING THE FORMS The form(s) in this packet may contain “form fields” created using Microsoft Word or Adobe Acrobat (“.pdf” format). “Form fields” facilitate completion of the forms using your computer. They do not limit your ability to print the form “in blank” and complete with a typewriter or by hand. It is also helpful to be able to see the location of the form fields. Go to the View menu, click on Toolbars, and then select Forms. This will open the Forms toolbar. Look for the button on the Forms toolbar that resembles a shaded letter “a”. Click this button and the form fields will be visible. By clicking on the appropriate form field, you will be able to enter the needed information. In some instances, the form field and the line will disappear after information is entered. In other cases, it will not. The form was created to function in this manner. II. Notes on Filing this Form Original Signatures of Executing Party(ies) & Date of Execution - Although documents may be a copy or a FAX, all required signatures must be originals. The Register of Deeds in South Carolina “encourage” use of BLUE INK for Signatures . Indexing of Executing Parties are taken from the signature, rather than from the typed name on the face of the document. If these names are totally different, the document may be returned unFiled. The exact name spelling should be typed or printed beneath each signature. The Date of Execution must also be clearly noted on the document. Subscribing Witnesses - Most documents require 2 witnesses’ original signatures. One of these witnesses may sign the “Affidavit of Probate” and the other may be the Notary Public. The individuals who execute the document may not be any of these. Affidavits of Probate and Acknowledgements - Documents must have either this “Affidavit” or an Acknowledgement following the Execution and Witness Signatures. The Probate provides for one of the two Witnesses to confirm to either the other witness or Notary, that he/she saw the Grantor(s) execute the document. The Acknowledgement provides for the Executing party to make oath to the Notary that he/she executed the document. Notary Public - Documents presented for filing, except as otherwise provided by law, must be “Notarized”, by a licensed Notary Public, with the appropriate “Notary” statement, signature, expiration date and Seal. Description & Derivation Clause - Most documents must contain some legal description of the property involved and/or reference to an attached Plat which provides such description (see Plat Recording Guidelines). Deeds, except Quit Claim Deeds, must include a derivation clause, preferably at the end of the legal description, that gives recording information for the Deed which established the Grantor’s (seller’s) ownership, and provides an important link in the "Chain of Title". This Clause shall include the Name of the original Grantor, and the Recording Date AND/OR Book and Page number of the Deed which originally conveyed the property to the Grantor. Grantee’s/Mortgagee’s Address - The address of the Buyer (Grantee) on Deeds, and the Secured Party (Mortgagee) on Mortgages, must be clearly noted, usually on the face of those documents. Preparation Clause - Deeds must have a clause, preferably at the end of the legal description, that tells the name, and the address, of who prepared the document. District, Map & Parcel No. - This information must be clearly noted somewhere on all Deeds and all Plats ( preferably on the first page ). This DMP information is an important link between a number of shared data-bases for County staff and public access to information related to Real Property. The information may be obtained off of the old Deed or a Tax Notice. Affidavit of True Consideration - Any conveyance of property that meets State and Local laws requiring payment of Recording Fees, Transfer Fees, etc., must indicate the “True Consideration” or value in money’s worth for that conveyance (see S.C. Code Sect 12-24 as amended). Thus, for example, if a Deed does not indicate on its face the amount paid, or the words “and other consideration”, or if a trade of property is involved, there must be attached an “Affidavit of True Consideration” that reflects the actual value of the transaction. That value is used to calculate Fees (including State & County Recording Fees, and Town of Hilton Head Island Transfer Fees) due for the recording. NOTE: If the Filer claims an “Exemption” from any Fees established by State or Local laws, an Affidavit must also be attached which cites the specific section of the law under which such Exemption is claimed. EXEMPTIONS FROM RECORDING FEES PER 12-24-40, SC CODE OF LAWS EXEMPTED FROM THE RECORDING FEES ARE DEEDS WHICH: 1) t ransfer realty in which the value of the realty, as defined in Code Section 12-24-30, is equal to or less than $100; 2) transfer realty to the federal government or to a state, its agencies and departments, and to its political subdivisions, including school districts; 3) are otherwise exempted under the laws and constitution of the State of South Carolina or the United States (give cite); 4) transfer realty in which no gain or loss is recognized by reason of Section 1041 of the US Internal Revenue Code, as defined in section 12-6-40(A) of the SC Code of Laws; 5) transfer realty in order to partition the realty, as long as no consideration is paid for the transfer other than the interests in the realty(s) that are being partitioned; 6) transfer an individual grave space at a cemetery owned by a cemetery company licensed under Chapter 55 of Title 39; 7) constitutes a contract for sale of timber to be cut (but not the land upon which the timber stands); 8) transfers realty to a corporation, partnership, or trust in order to become, or as, a stockholder, partner, or trust beneficiary of the entity, provided no consideration is paid for the transfer other than stock in the entity, interest in the partnership, beneficiary interest in the trust, or the increase in value in such stock or interest held by the grantor. However, the transfer of realty from a corporation, partnership, or trust to a stockholder, partner, or trust beneficiary of the entity is subject to the fee even if the realty is transferred to another corporation, partnership, or trust; 9) transfers realty from a family partnership to a partner or from a family trust to a beneficiary, provided no consideration is paid for the transfer other than a reduction in the grantee’s interest in the partnership or trust. A “family partnership” is a partnership whose partners are all members of the same family. A family trust is a trust, in which the beneficiaries are all members of the same family. The beneficiaries of a family trust may also include charitable entities. A “family” means the grantor and the grantor’s, parents, grandparents, sisters, brothers, children, stepchildren, grandchildren, and the spouses and lineal descendants of any of the above. A charitable entity means an entity which may receive deductible contributions under Section 170 of the US Internal Revenue Code, as defined in SC Code Section 12-6-40(A); 10) transfers realty in a statutory merger or consolidation from a constituent corporation to the continuing or new corporation; 11) transfers realty to a merger or consolidation from a constituent partnership to the continuing or new partnership; 12) constitutes a corrective deed or a quitclaim deed used to confirm title already vested in the grantee, provided that no consideration of any kind is paid or is to be paid under the corrective deed or quitclaim deed; 13) transfers realty subject to a mortgage to the mortgagee, whether by a deed in lieu of foreclosure executed by the mortgagee, or by deed pursuant to foreclosure; 14) transfers realty from an agent to the agent’s principal, in which the realty was purchased with funds of the principal, provided that a notarized document is also filed with the deed that establishes the fact that the agent and principal relationship existed at the time of the original purchase as well as for the purpose of purchasing the realty; and, 15) transfers title to facilities for transmitting electricity that is transferred, sold, or exchanged by electrical utilities, municipalities, electric cooperatives, or political subdivisions to a limited liability company which is subject to regulation under the Federal Power Act (16 U.S.C. Section 791(a)), and which is formed to operate or to take functional control of electric transmission assets as defined in the Federal Power Act. III. DISCLAIMER These materials were developed by U.S. Legal Forms, Inc. based upon statutes and forms for the subject state. All information and Forms are subject to this Disclaimer: All forms in this package are provided without any warranty, express or implied, as to their legal effect and completeness. Please use at your own risk. If you have a serious legal problem, we suggest that you consult an attorney in your state. U.S. Legal Forms, Inc. does not provide legal advice. The products offered by U.S. Legal Forms (USLF) are not a substitute for the advice of an attorney. THESE MATERIALS ARE PROVIDED “AS IS” WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND INCLUDING WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OF INTELLECTUAL PROPERTY, OR FITNESS FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL U.S. LEGAL FORMS, INC. OR ITS AGENTS OR OFFICERS BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OR PROFITS, BUSINESS INTERRUPTION, LOSS OF INFORMATION) ARISING OUT OF THE USE OF OR INABILITY TO USE THE MATERIALS, EVEN IF U.S. LEGAL FORMS, INC. HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. Recording Requested By and When Recorded Mail to:                   Recording Time, Book & Page SOUTH CAROLINA QUITCLAIM DEED COUNTY:       TAX MAP NUMBER:       CITY:       DATE:       Grantor       , a limited liability company organized under the laws of the State of South Carolina Address:                   Grantee       , a limited liability company organized under the laws of the State of South Carolina Address:                   KNOW ALL MEN BY THESE PRESENTS , that Grantor , for and in consideration of the sum of ____________________________________ and       /100 Dollars ($ ____________ ) paid by Grantee to Grantor , the receipt and sufficiency of which is hereby acknowledged, has released, remised and quitclaimed, and by these presents does remise, release and quitclaim unto Grantee , the real estate (the “Premises”) described as follows: See Legal Description Attached as Exhibit A incorporated by reference as though set forth in full Legal Description:       Quitclaim Deed - 1 - A plat of the subject property is recorded in Plat Book ______ at Page ______ . This being the same property conveyed to Grantor by Deed of __________________ , dated __________________ and recorded __________________ (date) in the Office of the ____________ for ____________ County in Deed Book ______ at Page ______ . TOGETHER with all and singular, the rights, members, hereditaments and appurtenances to the Premises belonging or in any way incident or appertaining, including, but not limited to, all improvements of any nature located on the Premises and all easements and rights-of-way appurtenant to the Premises. TO HAVE AND TO HOLD all and singular the Premises unto Grantee and Grantee’s successors and assigns forever. IN WITNESS WHEREOF , the Grantor has caused its name to be hereunto subscribed by its managing member this the ______ day of __________________ , 20 ______ . ________________________ , L.L.C. SIGNED, SEALED AND DELIVERED IN THE PRESENCE OF: By: Witness No. 1 Signature       Witness No. 2 Type/Print Name STATE OF SOUTH CAROLINA COUNTY OF ____________ I, the undersigned notary public for and in the state aforesaid, do hereby state that ________________________ (name of limited liability company) by ________________________ , its ________________________ , personally appeared before me and acknowledged the within instrument to be their deed and act. Signature of Person Taking Acknowledgment       Title or Rank       Serial Number, if any Quitclaim Deed - 2 - STATE OF SOUTH CAROLINA : Date of Transfer of Title : COUNTY OF ________________ : (Closing Date) ______________ , 20       AFFIDAVIT PERSONALLY appeared before me the undersigned, who being duly sworn, deposes and says: 1. I have read the information on this Affidavit and I understand such information. 2. The property is being transferred BY ________________________________________ TO _____________________________________ on ____________________________ . 3. Check one of the following: THE DEED IS (a) Subject to the deed recording fee as a transfer for consideration paid or to be paid in money or money’s worth. (b) Subject to the deed recording fee as a transfer between a corporation, a partnership, or other entity and stockholder, partner, or owner of the entity or is a transfer to a trust or as distribution to a trust beneficiary. (c) Exempt, or partially exempt, from the recording fees because (exemption # ________ ) (Explanation, if required) _________________________________________________________________________ _________________________________________________________________________ __ (IF EXEMPT, PLESE SKIP ITEMS 4-6 AND GO TO ITEM 8 OF THIS AFFIDAVIT) 4. Check one of the following if either item 3(a) or item 3(b) above has been checked. (a) ________ The fee is computed on the consideration paid or to be paid in money or money’s worth in the amount of $ ______________ . (b) ________ The fee is computed on the fair market value of the realty which is $ ______ __________ . (c) ________ The fee is computed on the fair market value of the realty as established for property tax purposes, which is $ ______________ . 5. Check YES or NO to the following: A lien or encumbrance existed on the land, tenement, or realty before the transfer and remained on the land, tenement, or realty after the transfer. If “YES”, the amount of the outstanding balance of this lien or encumbrance is $ ______________ . 6. The DEED Recording Fee is computed as follows: (a) ____________ The amount listed in item 4 above (b) ____________ The amount listed in item 5 (no amount place zero) (c) ____________ Subtract Line 6(b) and place the result. 7. As required by Code Section 12-24-70, I state that I am a responsible person who was connected with the transaction as: _______________________________________ Affidavit - 1 - 8. I understand that a person required to furnish this Affidavit who willfully furnished a false or fraudulent affidavit is guilty of a misdemeanor and, upon conviction, must be fined not more than one thousand dollars or imprisoned not more than one year, or both. _______________________________________ Grantor, Grantee or Legal Representative (Connected with this transaction) Sworn to before me this ______ __________________________________________ day of ______________ , 20 ______ (Print or Type Name Here) _____________________________ Notary Public for __________________ My commission expires __________________ Affidavit - 2 - State of South Carolina ) ) Probate County of ____________ ) Personally appeared before me the undersigned witness, who on oath deposes and says that s/he saw the within named Grantor by their act and deed sign and seal the within deed and deliver the same, and s/he, with the other subscribing witness, witnessed the execution thereof. ____________________________________ Witness Sworn to before me this ______ day of __________________ , 20 ______ . ____________________________________ Notary Public for __________________ ______________________________ My Commission expires: __________________ Probate - 1 -