Summit County Quitclaim Deed (Partnership or Limited Partnership Grantor) Form

Colorado real property can stand in a partnership's own name, and the instrument releasing it is then executed in that name by a partner, not by the partners one at a time. This form prepares that instrument as a quitclaim deed, with one partnership as grantor, general or limited, and one person signing for it.

Executed in the partnership name

C.R.S. 7-64-302(1)(a) does the work: subject to the effect of a statement of partnership authority, partnership property held in the name of the partnership may be transferred by an instrument of transfer executed by a partner in the partnership name. The agency behind it sits in C.R.S. 7-64-301, where each partner is an agent for the purposes of the partnership's business, and an act apparently carrying on that business, executing an instrument in the partnership name included, binds the partnership unless the partner lacked authority and the other person had notice.

Where partnership signing authority turns conclusive

Colorado splits the effect of a statement of partnership authority along a real property line. Filed with the Secretary of State under C.R.S. 7-64-303, it names the partners authorized to transfer real property held in the partnership name, with any limitations, and is prima facie evidence of the partnership's existence and of the facts stated in it. Away from real property, a grant of authority there is conclusive in favor of a person who gives value without notice to the contrary. On a transfer of real property held in the true partnership name, that conclusive effect arrives only once a copy of the statement is recorded where transfers of the property are recorded. Section 2 carries its reception information, or that of a statement of authority recorded under C.R.S. 38-30-172.

Two partnership acts, one set of mechanics

Which act governs a Colorado general partnership turns on its formation date. C.R.S. 7-64-1205 gives the Colorado Uniform Partnership Act (1997) to a partnership formed after January 1, 1998 and to an earlier one electing it; the rest stay under the Uniform Partnership Law, whose C.R.S. 7-60-110(1) lets any partner convey title standing in the partnership name by a conveyance executed in that name, subject to the same statement of authority. With a limited partnership the line runs through the general partner, who under C.R.S. 7-62-403(1) holds the rights and powers of a partner in a partnership without limited partners. Both roads reach the same mechanics; Section 2 records which type signs.

One partnership, one signer, one certificate

The conveyance is Colorado's statutory quitclaim, made by dropping the words of warranty and putting quitclaim where convey would stand: a grantee under a quit claim deed from a partnership takes the interest as it stood at delivery, entire, partial, or nothing, with no covenants and no after-acquired title. The form recites exactly one grantor partnership and one person signing for it, with a signature line holding that signer's printed name, the date, and the capacity held with the partnership, then one acknowledgment certificate in the representative capacity short form at C.R.S. 24-21-516(1)(b). A partnership passing a parcel to the entity carrying on its business after a restructuring, a partnership releasing whatever interest an earlier instrument may have placed in the partnership name so the record reads to one owner, and a limited partnership transferring an investment parcel to a purchaser taking the title as it stands all present the posture this deed recites. Where title instead stands in the names of partners, C.R.S. 7-64-302(1)(b) and (1)(c) send the transfer to an instrument executed by the persons in whose name it is held. Nor is the form set up for two signing partners, for a corporation, company, or trust as grantor, for an individual grantor, or for an attorney-in-fact signature.

At the recording counter

The deed goes to the clerk and recorder of the county holding the land, where recording protects the grantee against a later party recording first without notice. The example shows the documentary fee on a nonresidential parcel: forty one dollars and twenty cents against 412,000 dollars of consideration, at a penny per hundred, beside the notation Colorado law looks for where the property is not residential.

Three things arrive with the purchase: this partnership grantor quitclaim deed as a fillable PDF, a worked example set in Pueblo County in which a Colorado limited partnership releases a nonresidential parcel, and a guide walking the numbered sections, the signing authority, and the trip to the recorder. The materials are informational and are not legal advice.