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

On a Maine partnership deed, the name the registry index already carries decides who signs. This is Maine's quitclaim deed without covenant, the release deed at Form 4 of the statutory short forms, configured for a general partnership, limited partnership, or limited liability partnership that holds record title in the partnership name and releases it through one individual signing in that name. Where title stands in the partners' own names instead, a different subsection and a different configuration govern.

Three names, three signers

31 M.R.S. Section 1032 sorts partnership real property by the name on the record. Under subsection 1, paragraph A, property held in the partnership name may be transferred by an instrument executed by a partner in the partnership name, the configuration this form recites. Paragraph B reaches property held in the names of partners where the instrument that gave it to them showed their capacity or the existence of a partnership, and that property moves by an instrument those named persons execute; paragraph C reaches property held with no such indication. Section 1023 puts the reason plainly: property acquired by a partnership belongs to the partnership, not to the partners individually, and Section 1021 makes it an entity distinct from them.

Authority Maine leaves off the record

Some states let a partnership file a statement naming the partners who may transfer its real property. Maine's Uniform Partnership Act does not: chapter 17 provides for filed statements of dissociation, dissolution, and merger, and nothing that settles the signing question in advance. What settles it is 31 M.R.S. Section 1031, under which each partner is an agent of the partnership and a partner's execution of an instrument in the partnership name binds the partnership when it apparently carries on the ordinary course of its business, read with the partnership agreement and the partners' own authorizations. A limited partnership reaches the same place through different sections: a general partner is the agent under Section 1352, while Section 1342 gives a limited partner no power as such to bind the entity. Section 8 takes the signer's name, capacity, and source relied on, so the deed itself carries that answer.

Everything released, nothing promised

Warranty in Maine follows the covenant phrase a deed prints rather than the word in its title, and this deed prints no phrase at all, the without-covenant slot of the 33 M.R.S. Section 775 appendix. Reach comes from the operative word: under 33 M.R.S. Sections 161 and 771, a release passes every estate the grantor could pass by a deed of any other form. Section 9 lists the recorded easements, mortgages, and restrictions that stay fastened to the land, above a printed line stating that the listing creates no covenant. Patterns arriving in this shape include a partnership selling an investment parcel and one releasing a lot to a partner as it winds up. Co-owners calling themselves partners with no entity behind them present a different configuration, because Section 1022 provides that co-ownership alone forms no partnership, even where the owners share profits.

What a partnership seller brings to the counter

Unless an exemption applies, a transfer tax declaration goes with the deed, carrying the entity's federal identification number, and value is taxed at 2 dollars and 20 cents per 500 dollars to 1,000,000 dollars and 6 dollars per 500 above it, split between the sides. Withholding is where partnerships part company with other entity sellers: 36 M.R.S. Section 5250-A treats a partnership as a Maine resident only where residents of the State hold at least 75 percent of its ownership interest on the transfer date, and Maine Revenue Services directs a separate withholding return for each partner taking proceeds. Two exemptions in 36 M.R.S. Section 4641-C sit close by: subsection 16, for deeds between a family partnership and its partners in the organization, dissolution, or liquidation of the entity, and subsection 7, for deeds made pursuant to entity mergers from which no gain or loss is recognized. Recording costs the statutory 40 dollars.

The download holds the blank deed as a fillable PDF, a plain language guide to the eleven numbered sections and to recording, and a completed example set in Somerset County, where a limited partnership releases a platted Skowhegan lot for 215,000 dollars through its general partner, each side owing 473 dollars of tax. Searchers reach this instrument as a partnership quitclaim deed, a partnership quit claim deed, or a general partner signed release deed; the materials are informational and are not legal advice.