New York Mortgage Deed

State:
Multi-State
Control #:
US-03109BG
Format:
Word; 
Rich Text
Instant download

Description

A mortgage deed is a document which gives a lender legal right and interest in a property. Generally, a borrower is pledging his home as security for a loan. The mortgage deed evidences the lender's ownership in the property. It operates very much the same as a mortgage or deed of trust. The lender can foreclose on the property if the debtor does not make timely payments.
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FAQ

Call 311 or 212-NEW-YORK (212-639-9675) for assistance. Request a Document from 1966 to Present. You can request a certified or uncertified copy of property records online or in person. Cost. ... Online. Property owners of all boroughs except Staten Island can visit ACRIS. ... In Person. ?

If the deed is not recorded, the party holding the deed may not be recognized under the law as the legal property owner to third parties, though the deed may be legally effective to transfer the property from the grantor to the grantee.

A deed is a written document which is executed with the necessary formality (that is, more than a simple signature), and by which an interest, right or property passes or is confirmed, or an obligation binding on some person is created or confirmed. Deeds are generally enforceable despite any lack of consideration.

To change a deed in New York City, you will need a deed signed and notarized by the grantor. The deed must also be filed and recorded with the Office of the City Register. Transfer documents identifying if any taxes are due must also be filed and recorded with the City Register.

To successfully convey property in New York, deeds must comply with the following requirements: Properly identify the seller (grantor) and buyer (grantee) Identify the consideration given (consideration is what is given in exchange for the property) Clearly state a granting clause such as ?I hereby grant . . .?

Essential Elements of a Valid Deed Use of the proper statutory form of deed. Competent parties: grantor and grantee. Words of grant or operative words of conveyance. Sufficient description of the property to be conveyed. Proper execution. Delivery and acceptance.

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.

A deed transfers the title of an asset to a new owner, and it is usually recorded in the local county clerk's office. Recording is a way to protect title and ownership because it puts the public on constructive notice as to the buyer's ownership.

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New York Mortgage Deed