The New York Granting Clause is a crucial component of a real estate deed or contract in the state of New York. It specifies the rights, limitations, and interests transferred by the granter (property owner) to the grantee (buyer) upon the completion of a property transaction. This clause is designed to protect the interests of both parties by clearly outlining the specific nature of the property transfer and the inherent rights and privileges conferred. The New York Granting Clause typically contains specific language that denotes the transfer of ownership rights from the granter to the grantee. It establishes and confirms the granter's intent to convey full and clear title to the property to the grantee, while ensuring that the granter does not retain any undisclosed interests or limitations on the property. Keywords: New York Granting Clause, real estate deed, property transaction, transfer of ownership rights, full and clear title, undisclosed interests, limitations on property. There are two main variations of the New York Granting Clause, each serving a distinct purpose: 1. General Warranty Deed Granting Clause: This type of Granting Clause is commonly used in New York real estate transactions. It guarantees that the granter holds absolute, unencumbered title to the property, free from any defects or claims, except those explicitly mentioned in the deed. In addition, it ensures that the granter will defend the grantee's title against all past, present, and future claims made against it. 2. Special Warranty Deed Granting Clause: The Special Warranty Deed Granting Clause, although less common, also provides certain protections to the grantee. However, it differs from the general warranty deed in that it only guarantees that the granter holds clear title to the property during the time they owned it. It protects the grantee against claims or defects that may have arisen during the granter's ownership period, but not before. Keywords: General Warranty Deed Granting Clause, Special Warranty Deed Granting Clause, title defects, claims against title, defend title, grantee's protections. In conclusion, the New York Granting Clause is a fundamental element of a real estate deed in New York, ensuring a smooth transfer of property rights while safeguarding the interests of both the granter and the grantee. Understanding the different types of Granting Clauses, such as the General Warranty Deed and Special Warranty Deed, is crucial for parties involved in real estate transactions to make informed decisions and protect their investments.
New York Granting Clause
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Tenant right to offset payments and entitlement to damages in certain cases.
It shall be the duty of every person or corporation who, as owner or agent, subdivides real property into lots, plots, blocks or sites, with or without streets, for the purpose of offering such lots, plots, blocks or sites for sale to the public, to cause a map thereof, together with a certificate of the licensed land ...
Granting Clause: The clause in the deed that lists the grantor and the grantee and states that the property is being transferred between the parties.
Overview. Section 339-s of the New York State Real Property Law requires any Condominium Declaration, and any amendment thereof, to be filed with the New York Department of State.
The covenant of seisin (also seizin) is a promise that the grantor owns the property and has the right to convey title. The covenant of seisin states that the property is free from liens or other encumbrances except as noted in the deed.
?An easement is an interest in land created by grant or agreement, express or implied, which confers a right upon the owner thereof to some profit, benefit or dominion, or lawful use out of or over the estate of another.? Huyck v. Andrews, 113 N.Y. 81 (1889). parcel of real property.
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 . . .?
Filing of maps and abandonment of subdivisions in Suffolk county; penalty for nonfiling.