Common Types of Deed in New York.
The process of buying or selling real estate in New York involves the transfer of property ownership through a legal document called a deed. The type of deed used in a transaction has a significant impact on the rights and protections afforded to the buyer. In this blog post, I will explore the different types of deeds most commonly used in New York real estate transactions, helping you make informed decisions when buying or selling property. A full warranty deed is the most comprehensive type of deed, offering the greatest level of protection to the buyer. When a seller transfers property using a warranty deed, they guarantee that they have clear title to the property, free of any liens or encumbrances. The seller also promises to defend the buyer's title against any claims from third parties. In New York, a warranty deed typically includes the following covenants: Covenant of seisin: The seller warrants that they own the property and have the legal right to transfer it. Covenant...