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A New York deed must have a statement of consideration that says that the new owner is providing value in exchange for the property. Deeds often state nominal consideration within the deed's transfer language and set forth the actual consideration in the transfer tax affidavit that accompanies the deed.

A floating deed of trust, (also referred to as a Deed of Trust), is a legally-binding document that records the financial arrangements between joint owners of a property, and/or anyone else who a financial interest in the property.

What Is the Strongest Type of Deed? For real estate buyers, a general warranty deed provides greater protection than any other type of deed. While it's the best deed for the grantee, it gives the grantor the most liability.

General warranty deeds: A general warranty deed provides the most protection to the buyer but gives the grantor the highest degree of liability. The grantor of a general warranty deed fully warrants good, clear title to the property. This type of deed is used in most real estate deed transfers.

A general warranty deed provides the highest level of protection for the buyer because it includes significant covenants or warranties conveyed by the grantor to the grantee.

Warranty deeds are the safer option when buying property versus simply transferring ownership. Most buyers will want this option. If it is discovered that the seller did not have complete ownership of the property, the buyer can sue for breach of warranty.

Bottom Line. When you're looking at purchasing a piece of land, there are 5 main types of deeds that you can use: Warranty Deed, Special Warranty Deed, Quitclaim Deed, Bargain and Sale Deed, and a Grant Deed. A Warranty Deed is the best of the best.