Get NY NYBTU 8003

In a warranty deed with lien covenant, the grantor is guaranteeing the grantee that there are no outstanding liens on the property and if such a lien would appear, then it would be the duty of the grantor to satisfy that lien. A warranty deed with lien covenant is common in New York.

If a defect in the title arises years before the grantor owned the property, then the grantor is still liable under the covenants for title. General warranty deeds guarantee to the grantee that the property is being transferred free and clear, or without any encumbrances or limitations.

Quitclaim Deed There are no covenants or warranties by the grantor and this deed offers the lowest amount of protection to the grantee. This type of deed is also frequently used in transfers between family members and related transactions.

In New York, a full covenant and warranty deed provides the grantee with general covenants made by the grantor and the covenant under Section 13 of the New York Lien Law. This Standard Document has integrated notes with important explanations and drafting tips for both grantors and grantees.

General warranty deeds give the grantee the most protection, special warranty deeds give the grantee more limited protection, and a quitclaim deed gives the grantee the least protection under the law.