Master Deed For A Condominium In New York
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Property records are public. People may use these records for background information on purchases, mortgages, asset searches, and other legal and financial transactions. Reviewing these documents is not necessarily the same as a title search.
The grantor must sign the deed form and that signature must be properly acknowledged by a notary public. All signatures must be original; we cannot accept photocopies. A complete description of the property including the village, town, county and state where the property is located must also be included on the form.
Check List for Recording Documents & Avoiding Rejections: Grantor/Transferor/Seller is the same. Grantee/Transferee/Buyer is the same. Deed must be completed with names and address of Grantor(s) & Grantee(s) Grantor(s) must be properly acknowledged by a notary public. All signatures must be original.
Inium is a Latin word that means "Owning property together." That's what it is like when someone buys a condo unit. They have an "interest" in the land beneath the building, but the building's association owns the actual land.
Property records are public. People may use these records for background information on purchases, mortgages, asset searches, and other legal and financial transactions. Reviewing these documents is not necessarily the same as a title search.
A deed must be notarized before it is recorded or delivered to the new owner. A deed that is not notarized may be, as an alternative, signed by at least one witness who attests that the deed was signed by the owner and delivered to the new owner. New York has statutory model notary certificates for deeds.
"Owning:" Why Condo Owners Don't Own the Land. One of the main differences between buying a house versus buying a condo is that condo owners are not landowners. A condo owner is purchasing an "interest" in the condo association that runs the day-to-day operations of the building, similar to a homeowners association.
A inium (or condo for short) is an ownership regime in which a building (or group of buildings) is divided into multiple units that are either each separately owned, or owned in common with exclusive rights of occupation by individual owners.
The three most common New York deeds are listed below: Warranty Deed. Bargain and Sale Deed. Quitclaim Deed.
To have a pleasant condo living experience, keep in mind these legal rights for condo owners. The Right to Access Condo Documents. The Right to Equality and Non-Discrimination. The Right to Notice and Meetings. The Right to Run and Vote During Elections. The Right to Protest.
