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The document is a Warranty Bill of Sale, which serves as a legal agreement between a Seller and a Purchaser for the sale of personal property in New York. It outlines the terms of the sale, including the purchase price, description of the property, and assurances from the Seller regarding ownership and authority to sell. The document also includes provisions for notarization to validate the transaction.

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Why would a seller want a special warranty deed?

A special warranty deed is a type of real estate deed used to transfer property ownership from one person to another. By using this particular deed, the seller is guaranteeing to the buyer that there are no defects or problems with the property title during the time that they owned the property.

What is an example of a special warranty?

Special warranty deed Example Consider a scenario where John, a property investor, purchases a commercial building from Sarah. Sarah provides John with a Special Warranty Deed. This deed guarantees that no title issues or encumbrances arose during Sarahs ownership.

What is a special warranty bill of sale?

A special warranty deed guarantees two things: The grantor owns, and can sell, the property; and the property incurred no encumbrances during their ownership. A special warranty deed is more limited than the more common general warranty deed, which covers the entire history of the property.

What is the difference between a bill of sale and a warranty bill of sale?

A warranty bill of sale offers protections for the buyer that a simple receipt does not. This kind of bill of sale clearly details what is being sold and gives a guarantee to the buyer about the sellers ownership rights. The bill of sale promises that the buyer holds full and clear title to the item sold.

What are the disadvantages of a special warranty deed?

The main disadvantages include limited protection for buyers, who may inherit claims or issues from before the sellers ownership. Buyers must investigate the propertys history, which could lead to unexpected costs or unresolved liens.

Can you write your own bill of sale in NY?

New York requires that you complete a bill of sale whenever you buy or sell a car privately. You may use the Vehicle Bill of Sale created by the Department of Motor Vehicles or draft your own. In either case, the bill of sale should include: Purchase date and price.

What is a disclaimer of warranty on a bill of sale?

A warranty disclaimer is a statement or clause in a contract that excludes or limits the sellers responsibility for certain warranties. This typically means that the seller is not guaranteeing that the product or service will meet specific standards or perform in a particular way.

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Can you write your own bill of sale in NY?

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Get the up-to-date Bill of Sale with Warranty by Individual Seller - New York 2025 now

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The best way to edit Bill of Sale with Warranty by Individual Seller - New York in PDF format online

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Got questions?

Why would a seller want a special warranty deed?

What is an example of a special warranty?

What is a special warranty bill of sale?

What is the difference between a bill of sale and a warranty bill of sale?

What are the disadvantages of a special warranty deed?

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