Deeds from Limited Liability Companies (“LLC”) must be executed in the name of the LLC (which must contain the words limited liability company or the abbreviated “LLC”) as follows:
1. If the LLC operates through officers appointed or elected pursuant to the terms of its operating agreement, such instruments must be executed by at least two elected or appointed officers in the manner provided for in the operating agreement. Such officers should consist of
chairperson, president, or a vice president,
b. any secretary, assistant secretary, or chief financial officer.
2. If the LLC operates through a manager or managers in accordance with the terms of its operating agreement, such deeds should be executed by at least two managers. However, if the LLC operates through a single manager, only his signature should be subscribed in the deed.
3. If the LLC operates through its members and has not elected or appointed officers/managers pursuant to an operating agreement, such deeds must be executed by members holding a majority of the economic interest of the LLC.
4. Since LLC’s are recent entities created by the individual states, some states may authorize execution of LLC deeds under general conveyancing statutes. In order to insure title from an LLC, it is necessary to obtain the following items:
a. A copy of the filed articles of organization in order to ascertain:
i. The LLC’s legal formation and its effective date;
ii. Member or Manager Management;
iii. Limitations that may affect the transaction or the acts of the persons executing the deed.
b. A current list of the names of the members at the time the deed was executed. This requirement is made in order to check the general index for probate or bankruptcy matters that may cause a dissolution of the LLC.
c. A copy of the LLC’s operating agreement, if one has been adopted together with all amendments to such agreement. Additionally, a certificate that the operating agreement is a true and correct copy of the agreement now in effect.
d. A copy of the certificate of registration, a copy of the articles of organization certified by authorities of the state of origin if it is a foreign LLC, and verification from the state of origin that the LLC is in good standing.