New Jersey Bargain and Sale Deed - With Covenants as to Grantor's Acts
Understanding this form
The Bargain and Sale Deed with Covenants as to Grantor's Acts is a legal document used to transfer property ownership. This type of deed creates a legal record for the transaction and includes covenants that protect the grantee against any claims arising from the grantor's acts. Unlike warranty deeds, this form does not guarantee clear title but assures that the grantor has not acted against the deed's terms.
What’s included in this form
- Identification of the grantor and grantee, including addresses.
- Details of the property being transferred.
- Date of the transaction.
- Covenants relating to the grantor's actions.
- Signature lines for both parties.
When to use this document
This form should be used when an individual or entity wishes to convey property in New Jersey without providing a warranty on the title. It is particularly useful in situations where the grantor may not be able to guarantee a clear title or when the buyer accepts the risk of any potential issues. Typical scenarios include private sales between parties, investment property transactions, or when the grantor is unsure of the property's title history.
Who needs this form
This form is appropriate for:
- Property owners (grantors) looking to sell or transfer ownership to another party (grantee).
- Buyers (grantees) who are comfortable with accepting the property "as is."
- Real estate investors managing rental properties or flipping houses.
- Individuals completing property transactions without the intervention of a realtor.
Completing this form step by step
- Identify the parties involved by entering the names and addresses of the grantor and grantee.
- Specify the property by providing its legal description or address.
- Enter the date the deed is executed.
- Include any necessary details regarding covenants relating to the grantor's acts.
- Ensure both parties sign the document in the appropriate spaces provided.
Is notarization required?
Notarization is required for this form to take effect. Our online notarization service, powered by Notarize, lets you verify and sign documents remotely through an encrypted video session, available 24/7.
Common mistakes to avoid
- Failing to include the correct legal description of the property.
- Not providing all necessary signatures or dates.
- Omitting crucial information about the transaction, such as the covenants.
Why use this form online
- Convenient access to a legally vetted document from anywhere.
- Editability to personalize the form to your specific transaction.
- Reliable legal framework that aligns with New Jersey's property laws.
Form popularity
FAQ
When done properly, a deed is recorded anywhere from two weeks to three months after closing.
Bargain and Sale With Covenants If a bargain and sale deed comes with expressly stated guarantees beyond simple ownership rights, it is known as a bargain and sale deed with covenants. The grantor of such a deed is guaranteeing the property against any possible claims expressly covered by the covenant.
In its most basic form, a bargain and sale deed includes a warranty that the grantor has title to the property but does not guarantee that the property is free of claims. This is known as a bargain and sale deed without covenants.
In New Jersey, the deed must be in English, identify the seller/buyer (grantor/grantee), name the person that prepared the deed, state the consideration (amount paid) for the transfer, contain a legal description of the property (a survey), include the signature of the grantor and be signed before a notary.
A bargain and sale with covenants against grantor's acts contains only one covenant or promise; that is, that the grantor has done nothing to encumber title with easements, liens, judgements and the like while owing the property.It does not run with the land. This type of deed is typically used in New Jersey.
Be in English or include an English translation (N.J.S.A. Identify the grantor / grantee (N.J.S.A. Be signed by the grantor with the name printed underneath (N.J.S.A. Include the name and mailing address of the grantee (N.J.S.A. Be notarized (N.J.S.A.
Bargain and sale deeds are generally used to transfer the grantor's entire interest in the property at the time of conveyance without any warranties of title.Unlike quitclaim deeds, bargain and sale deeds imply that the grantor holds an actual interest in the property being conveyed.
In New Jersey, the preparation of legal documents such as a deed is considered the practice of law which may only be undertaken by an Attorney at Law of the State of New Jersey. The only exception to that rule is that an individual representing him/herself may prepare his/her own documents.
Retrieve your original deed. Get the appropriate deed form. Draft the deed. Sign the deed before a notary. Record the deed with the county recorder. Obtain the new original deed.