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New York Warranty Deed - Two Individuals to One Individual

New York Warranty Deed - Two Individuals to One Individual

Name: New York Warranty Deed - Two Individuals to One Individual
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.82 (375 reviews)

Category:

New York Real Estate - Deeds - Warranty

State:

New York

Control #:

NY-021-78

Format:

Instant download

Description

This form is a Warranty Deed where the Grantors are Two Individuals and the Grantee is also an Individual. Grantors convey and warrant the described property to Grantees. This deed complies with all state statutory laws.

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FAQ

A warranty deed guarantees that: The grantor is the rightful owner of the property and has the legal right to transfer the title.The title would withstand third-party claims to ownership of the property. The grantor will do anything to ensure the grantee's title to the property.

A special warranty deed to real estate offers protection to the buyer through the seller's guarantee that the title has been free and clear of encumbrances during their ownership of the property. It does not guarantee clear title beyond their ownership.

It will not protect against title issues that arose prior to the time the seller took occupancy. Consequently, it offers less protection to buyers, and more protection to sellers, than a general warranty deed, which is the most common option for selling or buying a property.

Special warranties allow the transfer of property title between seller and buyer. The purchase of title insurance can mitigate the risk of prior claims to the special warranty deed.

The only way to forcibly change the ownership status is through a legal action and the resultant court order. However, if an owner chooses to be removed from the deed, it is simply a matter of preparing a new deed transferring that owner's interest in the property.

It's important to note that a warranty deed does not actually prove the grantor has ownership (a title search is the best way to prove that), but it is a promise by the grantor that they are transferring ownership and if it turns out they don't actually own the property, the grantor will be responsible for compensating

You would simply prepare a deed to you and your fiance. You would then have to prepare and execute the other necessary forms take them to the clerks office and file them. I suggest that you consult with a local attorney. They can do this at a modest cost.

It is possible to be named on the title deed of a home without being on the mortgage. However, doing so assumes risks of ownership because the title is not free and clear of liens and possible other encumbrances.If a mortgage exists, it's best to work with the lender to make sure everyone on the title is protected.

New York Warranty Deed - Two Individuals to One Individual

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FAQ

Does a warranty deed mean you own the property?

Why would you use a special warranty deed?

Is a special warranty deed bad?

Does a special warranty deed transfer ownership?

How do I remove someone from a deed in NY?

Does a warranty deed prove ownership?

How do I add someone to my deed in NY?

Can a person's name be on a deed without being on the mortgage?

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