Franklin City Quitclaim Deed (Partnership or Limited Partnership Grantor) Form

Virginia keeps the authority behind a partnership deed at the State Corporation Commission, not in the land records. Under Code of Virginia Section 50-73.93, a partnership may file a statement of partnership authority naming the partners authorized to execute an instrument transferring real property held in the partnership name, and a grant of that authority is conclusive for anyone who gives value without knowledge to the contrary, so long as no limitation on it is of record with the Commission. This Virginia quitclaim deed is built for that arrangement: one partnership as grantor, one authorized partner signing the partnership name, and an entry for the authority relied on.

Whose name the vesting deed carries decides who signs

Section 50-73.92 gives partnership property three transfer routes, and they turn on the name in which title stands. Property held in the name of the partnership is transferred by an instrument executed by a partner in the partnership name, the route this form prints. Property standing in the names of individual partners, with or without an indication of partnership capacity, is transferred instead by the persons in whose name it stands. So Section 4 reads against Section 7, the source of title entry: the signature configuration follows the record.

One partnership, one signing partner, one certificate

The grantor side is fixed at a single partnership acting through one authorized person: an entity name line above the signature rule, a printed name, a title line, a date, and one acknowledgment certificate whose venue reads county or city, following Section 47.1-16(A). A general partnership conveying a parcel that stands in its name, a limited partnership selling an investment lot through its general partner, and a partnership releasing whatever interest its name still carries in an old chain of title present the single-entity release these recitals carry. No second grantor block prints, and no individual, corporate officer, member or manager, fiduciary, or attorney-in-fact capacity appears on the grantor side.

How a general partner reaches the same statute

A limited partnership gets there by two steps. Section 50-73.29 gives a general partner the rights and powers of a partner in a partnership without limited partners, except as its chapter or the partnership agreement provides, and Section 50-73.75 sends any case that chapter does not cover to the Virginia Uniform Partnership Act. Section 3 takes the type of partnership and the jurisdiction of organization, so the name reads with the element Section 50-73.2 calls for, the words limited partnership or the abbreviation L.P.

Exemptions an entity grantor can reach

Subdivision A 11 of Section 58.1-811 exempts from the state recordation tax a deed from a partnership where the grantees are entitled to receive not less than 50 percent of its profits and surplus; subdivision A 8 reaches a deed to the surviving or new entity in a merger, a consolidation, or a reorganization under Sections 368(a)(1)(C) and (F) of the Internal Revenue Code. Where nothing passes at all, Section 58.1-811(D) has called since July 1, 2026 for a statement that the deed is a quitclaim deed without consideration. Section 2 gathers the price, the value Section 58.1-801 ties to the latest assessment, the Code section, and that statement, above the parcel, underwriter, preparer, and return entries page one carries.

The covenants this deed withholds

Virginia reads covenant words rather than the heading on a page, and none of the phrases Sections 55.1-354 through 55.1-362 give warranty effect to appear here. Section 9 declares in capital letters that no covenant or warranty of title is made, then lists by name the statutory covenants the partnership does not give: seisin, the right to convey, quiet possession, freedom from encumbrances, and further assurances. It adds that the person signing undertakes nothing in an individual capacity. Section 55.1-407, the recording act, keeps its own effect once the deed reaches the land records of the right locality.

Buyers search for this instrument as a partnership quitclaim deed, a quit claim deed from a partnership, or an LP release of interest; this package prepares the Virginia version for one partnership or limited partnership as grantor. The download holds a fillable blank deed, a completed example worked through a priced Stafford County sale, and a plain-language guide that takes the sections one at a time, sets out the forms in which a Virginia grantee may hold title, and covers notarization under Title 47.1. These materials describe Virginia law in general terms and are not legal advice.