US Legal Forms
Forms Catalog
Real Estate
New York Bargain and Sale Deed Statutory Form BB. Without Covenant...

New York Bargain and Sale Deed Statutory Form BB. Without Covenant against Grantor by Corporation

Q: Is a bargain and sale deed the same as a quit claim deed?

A bargain and sale deed doesn&#039;t warrant against any encumbrances. It simply implies that the grantor holds title to the property.A bargain and sale deed is much like a quitclaim deed in this respect. It conveys property, but it makes no guarantees that no one else has a stake in that property.

Q: What is a bargain and sale deed without covenants?

One type contains a specific covenant against grantor&#039;s acts, while the other does not.Bargain and sale deeds without covenant do not guarantee that the property conveyed is without encumbrances made by the grantor.

Q: What is a bargain and sale deed with covenants against grantor&#039;s acts?

A bargain and sale with covenants against grantor&#039;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.

Category:

Real Estate - Deeds - Statutory

State:

New York

Control #:

NY-02284

Format:

Instant download

Understanding this form

The Bargain and Sale Deed Statutory Form BB without Covenant against Grantor by Corporation is a legal document used to transfer property ownership from a corporation to another party. This form is distinct from other deeds because it does not include a covenant against the grantor, meaning the corporation transferring the property is not guaranteeing that it is free of encumbrances. It is designed for straightforward transactions where the seller, or grantor, is a corporation.

Key components of this form

The date of the transaction
The names of the parties involved, including the corporation as grantor
The consideration amount (purchase price)
A description of the property being transferred
The signatures of a duly authorized officer of the corporation and a notary public

Bargain and Sale Deed Statutory Form B. Without covenant against Grantor - Individual

View this form

Bargain and Sale Deed Statutory Form C. With Covenant against Grantor - Individual

View this form

Bargain and Sale Deed Statutory Form CC. With Covenant against Grantor by Corporation

View this form

Bargain And Sale Deed Without Covenants Against Grantors Acts

View this form

Bargain and Sale Deed

View this form

When this form is needed

This form is typically used when a corporation intends to sell or transfer property to another entity or individual. It is suitable for transactions that do not require the seller to provide guarantees regarding the status of the property. You might use this form in a variety of scenarios, including selling corporate real estate, transferring ownership of land, or structuring business sales that involve property as an asset.

Who needs this form

This form is intended for:

Corporations looking to transfer property ownership
Individuals or entities purchasing property from a corporation
Real estate professionals facilitating transactions involving corporate entities

Completing this form step by step

Identify the parties involved in the transaction, specifying the corporation as the grantor.
Fill in the date of the transaction at the top of the form.
Enter the consideration amount, which represents the purchase price for the property.
Provide a detailed description of the property being transferred.
Have the authorized officer of the corporation sign the deed and affix the corporate seal.
Ensure a notary public signs and dates the document to validate the transaction.

Notarization guidance

This document requires notarization to meet legal standards. US Legal Forms provides secure online notarization powered by Notarize, allowing you to complete the process through a verified video call, available 24/7.

Built-in online Word editor

Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.

Export easily

Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.

E-sign your document

Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.

Notarize online 24/7

If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.

Store your document securely

We protect your documents and personal data by following strict security and privacy standards.

Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.

Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.

Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.

If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.

We protect your documents and personal data by following strict security and privacy standards.

Common mistakes to avoid

Failing to provide a complete property description, which can lead to confusion about the property being transferred.
Not obtaining the required signatures from an authorized corporate officer.
Overlooking the need for notarization, which could invalidate the deed.

Why complete this form online

Easy customization to fit your specific transaction needs.
Immediate access to professionally drafted templates reviewed by licensed attorneys.
Time-saving, as you can complete the form online and download it instantly.

Looking for another form?

This field is required

Home Sale Deed Quitclaim Deed Lady Bird Deed Mortgage Right of First Refusal Land or Executory Contract

Petition For Writ Of Habeas Corpus By Pers...

View this form

Sample Letter for Change of Venue and Requ...

View this form

Agreement for the Sale and Purchase of Res...

View this form

Marketing and Distribution Agreement betwe...

View this form

Bartering Contract or Exchange Agreement

Preferential Purchase Right Notice / Waive...

View this form

Employment or Work Application - General

View this form

Agreement for Accord and Satisfaction of a...

View this form

Form popularity

FAQ

In New York, a bargain and sale deed with covenant against grantor's acts provides the grantee with a covenant that the grantor has not committed any act that would encumber title to the real property being conveyed and the covenant under Section 13 of the New York Lien Law.

A Bargain and Sale Deed simply conveys property from one person or entity to another for a consideration - money or its equivalent. This type of deed might have added covenants that guarantee that the grantor "has not encumbered the property in any way" except that which may be stated in the deed itself.

A bargain and sale deed doesn't warrant against any encumbrances. It simply implies that the grantor holds title to the property.A bargain and sale deed is much like a quitclaim deed in this respect. It conveys property, but it makes no guarantees that no one else has a stake in that property.

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.

Bargain and sale deeds are most often used when property is transferred pursuant to a foreclosure, tax sale, or settlement of the estate of a deceased person. They may also be used in the same situations as a quitclaim deed, although they give the grantee a little more protection.

A warranty deed, also known as a general warranty deed, is a legal real estate document between the seller (grantor) and the buyer (grantee). The deed protects the buyer by pledging that the seller holds clear title to the property and there are no encumbrances, outstanding liens, or mortgages against it.

One type contains a specific covenant against grantor's acts, while the other does not.Bargain and sale deeds without covenant do not guarantee that the property conveyed is without encumbrances made by the grantor.

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.

Buying property with this type of deed is not necessarily a bad idea, but it is advisable to take some precautions. If possible, a title search should be conducted to look for any clouds on the title and to see how difficult it would be to release them.

Employment Agreement between Physician and Professional Limited Liability Company with Nondisclosure Agreement and Covenant not to Compete

View this form

Assignment of Rights under Executed Contract

View this form

Sample Letter for Promotional Letter - Business Broker

View this form

Sample Letter regarding Articles of Incorporation - Drafts of Minutes

View this form

Sales Letter, Oriental Rugs

View this form

Trusted and secure by over 3 million people of the world’s leading companies

Bargain and Sale Deed Statutory Form BB. Without Covenant against Grantor by Corporation

Definitions and Terms Relevant to Deeds

Note: The information below is a general statement of the law of deeds and is applicable in most states. However, state laws may vary the general statement slightly or to a large degree. The discussion below is intended as general and not as applicable to a particular state. The actual forms will reflect the requirements of your state.

Types of Deeds:

Warranty Deed - If a deed is intended to be a general warranty deed, it should contain a phase specified by state law such as the phrase "conveys and warrants". These words, called operative words of conveyance, carry with them several warranties which the grantor is making to the grantee. Examples of the warranties are:

First, the grantor warrants that the grantor is the lawful owner of the property at the time the deed is made and delivered and that the grantor has the right to convey the property.

Second, the grantor warrants that the property is free from all encumbrances or liens.

Third, the grantor warrants that he or she will defend title to the estate so that the grantee and the grantee's heirs and assigns may enjoy quiet and peaceable possession of the premises with the power to convey the property.

Quitclaim Deed - A quit claim deed conveys to the grantee and the grantee's heirs and assigns in fee all of the legal or equitable rights the grantor has in the property that existed at the time of the conveyance. An example of operative words of conveyance are "convey and quit claim." There are no warranties of title.

Special Warranty Deed - In contrast to a general warranty deed, a special warranty deed limits the liability of the grantor by warranting only what the deed explicitly states. A special warranty deed has practically the same effect as a quitclaim deed. Special warranty deeds are generally used by corporations or other entities that want to avoid assuming the liability of a general warranty deed. Like the general warranty deed, the special warranty deed should contain the appropriate language such as "conveys and specially warrants." Usually, the grantor warrants that he or she did nothing to impair title during the period the grantor held the title. While a special warranty deed may contain covenants of title, these covenants will usually cover only those claims arising by, through, or under the grantor.

Fiduciary Deed - This is a deed to be executed by a fiduciary such as a trustee, guardian, conservator, or similar person in their appointed capacity.

Terms Common to Deeds:

Grantor - The person who owns the property and executes the deed conveying the property to another person. This can be one or more persons, a corporation, limited liability company (LLC), partnership or other entity.

Grantee - The person who receives title to the property. The grantee can be one or more persons, a corporation, LLC, partnership or other entity.

Consideration - The value given to the grantor by the grantee in exchange for the conveyance. Some states include the exact consideration in the deed and others do not but instead include a statement of consideration as being 10.00 and other good and valuable consideration.

Operative Words of Conveyance - These are state specific and generally are statutory. They show intent to transfer present title. As previously mentioned, examples are "conveys and warrants", or "convey and quitclaim" or convey and specially warrant".

Legal Description - The legal definition of the property being conveyed. This is contained in the deed where the grantor obtained title to the property and should be used in the deed where the grantor conveys the property exactly as written in the grantors deed unless not all of the property is being conveyed.

Life Estate - A life estate is where a person owns all the benefits of ownership in the property during their life, or the life of another, with the property going to a remainder person after the death of the life tenant.

Tenants in Common - This is how two or more people (co-tenants) may take title to property who intend their share in the property to be separate from the other on death. On the death of the tenant in common the deceased persons ownership in the property is left to his or her heirs or as specified by Will. Compare to Joint Tenants. If tenant in common ownership is desired the deed usually provides, "to Grantees, A and B, as tenants in common and not as joint tenants".

Joint Tenants with Rights of Survivorship - This is how two or more persons may take title to property when the parties want the entire ownership to go to the survivor instead of the heirs of the survivor. On death of a joint tenant with rights of survivorship, the entire interest of the deceased co-tenant goes to the surviving co-tenants. Compare to Tenants in Common. It is common for husband and wife to take title as joint tenants with rights of survivorship. If joint tenant with rights of survivorship ownership is desired, the deed usually provides, "to Grantees, A and B, as joint tenants with rights of survivorship and not as tenants in common".

Community Property - In community property states, special laws govern how property is owned between husband and wife.

Reservation Clause - This is a provision of a deed where the grantor may reserve some right in the property such as mineral rights.

Exception Clause - This is a clause in a deed were exceptions to title conveyed may be listed. Example, "Less and Except a prior reservation of all oil, gas and mineral rights in the property conveyed."

Subject to Clause - This is a clause in a deed where property useage rights may be states. Example: "Subject to all rights of way, easements and protective covenants of record".

Execution and Acknowledgments

Execution - A deed must be in writing and signed by the grantor(s). Generally, deeds conveying a homestead estate must also be signed by the grantor's spouse.

Acknowledgments - In addition to the signature of the grantor(s), deeds must be acknowledged to be recorded and acceptable as evidence of ownership without other proof. Each state has special acknowledgment forms.

Procedural Requirements

Name, Address, phone - The names of the grantor and the grantee should appear on the deed. The address and phone numbers are also usually included.

Recording or Filing Place - Generally, deeds should be recorded in the county in which the real estate is located. Although generally a deed does not have to be recorded to be a valid conveyance, there are practical reasons for recording a deed. Deeds usually do not take effect as to creditors and subsequent purchasers without notice until the instrument is recorded. Thus, unrecorded deeds may be void as to all subsequent creditors and subsequent purchasers without notice until they are filed for record. Recording a deed places subsequent purchasers on constructive notice in that subsequent purchasers are deemed to have actual knowledge of any recorded instrument. Some states are "race-notice" states, which means that the first grantee without notice to record a deed to property will be protected against the interests of other grantees with unrecorded deeds to the same property.

Acceptance and Delivery - Another element of a valid deed is that the deed must be delivered and accepted to be an effective conveyance. Most states assume delivery if the grantee is in possession of the deed. The deed also must be accepted by the grantee. This acceptance does not need to be shown in any formal way, but rather may be by any act, conduct or words showing an intention to accept such as recording the deed.

How to Order

To order the deed you have located, close this window and click on the order icon.

Bargain and Sale Deed Statutory Form BB. Without Covenant against Grantor by Corporation

Definitions and Terms Relevant to Deeds

Types of Deeds:

First, the grantor warrants that the grantor is the lawful owner of the property at the time the deed is made and delivered and that the grantor has the right to convey the property.

Second, the grantor warrants that the property is free from all encumbrances or liens.

Fiduciary Deed - This is a deed to be executed by a fiduciary such as a trustee, guardian, conservator, or similar person in their appointed capacity.

Terms Common to Deeds:

Grantee - The person who receives title to the property. The grantee can be one or more persons, a corporation, LLC, partnership or other entity.

Community Property - In community property states, special laws govern how property is owned between husband and wife.

Reservation Clause - This is a provision of a deed where the grantor may reserve some right in the property such as mineral rights.

Subject to Clause - This is a clause in a deed where property useage rights may be states. Example: "Subject to all rights of way, easements and protective covenants of record".

Execution and Acknowledgments

Execution - A deed must be in writing and signed by the grantor(s). Generally, deeds conveying a homestead estate must also be signed by the grantor's spouse.

Procedural Requirements

Name, Address, phone - The names of the grantor and the grantee should appear on the deed. The address and phone numbers are also usually included.

How to Order

To order the deed you have located, close this window and click on the order icon.

New York Bargain and Sale Deed Statutory Form BB. Without Covenant against Grantor by Corporation

Understanding this form

Key components of this form

Related forms

When this form is needed

Who needs this form

Completing this form step by step

Notarization guidance

Get your form ready online

Common mistakes to avoid

Why complete this form online

Looking for another form?

Viewed forms

Form popularity

FAQ

What is a bargain and sale deed in New York?

What is a bargain and sale deed in NY?

Is a bargain and sale deed the same as a quit claim deed?

What is bargain and sale deed with covenants?

Why use a bargain and sale deed?

What's a general warranty deed?

What is a bargain and sale deed without covenants?

What is a bargain and sale deed with covenants against grantor's acts?

Is a bargain and sale deed bad?

Explore more forms

Trusted and secure by over 3 million people of the world’s leading companies