Ownership Deeds

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Commonly Asked Questions about Ownership Deeds

What is the best deed to receive?

General warranty deeds give the grantee the most legal protection, while special warranty deeds give the grantee more limited protection. A quitclaim deed gives the grantee the least protection under the law.

How do I transfer ownership of a property in NY?

To change a deed in New York City, you will need a deed signed and docHubd by the grantor. The deed must also be filed and recorded with the Office of the City Register. Transfer documents identifying if any taxes are due must also be filed and recorded with the City Register.

Is a deed the same as ownership?

A deed and title similarly refer to the ownership of a property, but there are key differences to be aware of as you venture into the home buying (or selling) process. Remember that while a title refers to your ownership of a property, a deed is the physical document used to prove and transfer that ownership.

Which deed is most preferred by the seller?

The most preferred deed from the sellers point of view is the General warranty deed. This type of deed provides the highest level of protection for the seller. It guarantees that the seller has good title to the property and ensures that the seller will defend against any claims made by other parties.

What type of deed is used in New York?

One of the most common types of property deed is the general warranty deed. A general warranty deed provides the most protection to the purchaser. It includes covenants that promise the buyer that the seller owns the property free of any liens and encumbrances, and that the seller has the legal right to sell it.