US Legal Forms
Authority to Release of Deed of Trust

Warranty Deed Vs Quit Claim Deed In Bronx

Category:

Real Estate - Mortgages and Deeds of Trust

State:

Multi-State

County:

Bronx

Control #:

US-00186

Format:

Instant download

Description

This form is an Authority to Release. The county clerk is authorized and requested to release from a deed of trust a parcel of land to the executor of the estate. The form must be signed in the presence of a notary public.

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FAQ

It's safer to use a warranty deed any time you are not entirely sure of your or someone else's ownership stake in any property. If you are transferring a property to your child or to a revocable trust agreement as part of an estate plan, then a quitclaim deed could do the trick.

Quitclaim deed transfers are ideal for: transferring property interest between family members, such as a parent to a child.

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.

Now if gina sells the property. She can give her buyer a warranty deed. But i wouldn't advise thatMoreNow if gina sells the property. She can give her buyer a warranty deed. But i wouldn't advise that you'd want to convey the property via another quit claim deed.

General warranty deed It's the type of deed that offers the most buyer protection. When committing to a general warranty deed, the seller is promising there are no liens against the property, and if there were, the seller would compensate the buyer for those claims.

– Quitclaim deed must be written and signed by grantor before a notary public. – Must include legal description, property address, county, date, grantor and grantee names, and transfer amount (if any). – File the quitclaim deed with the County Clerk or City Registrar.

A general warranty deed must include the following to be valid: The name and address of the seller (called the grantor) The name and address of the buyer (called the grantee) A legal description of the property (found on the previous deed) A statement that the grantor is transferring the property to the grantee.

Most current deeds fall into one of four categories: 1) General Warranty, 2) Special Warranty, 3) Quit Claim deed, and 4) Bargain and Sale deed. General Warranty Deed — The General Warranty deed is often referred to simply as a warranty deed.

A warranty deed makes a promise to the buyer that the seller has good title to the property. A quitclaim deed, on the other hand, makes no promises. A quitclaim deed just says; whatever interest I have in this property, I give to you.

More info

A quit claim deed is a simpler and lower cost conveyance often used when a property transfers ownership without being sold. A quit claim deed is a way for the current owner to give up any claim on the property without making any promises about what the new owner can expect.Warranty deeds are the safer option when buying property versus simply transferring ownership. Most buyers will want this option. A quitclaim deed releases an individual's interest in a property without explaining the nature of his or her interest or rights. Here's what to know about filing quit claim deeds in New York, plus a quick look at how the attorneys at Moshes Law, PC can help guide you through the process. Quitclaim deeds offer no warranties of title and provide the least amount of protection to the grantee. A quitclaim deed is often used to clean up title issues. It can also be used to convey property between spouses in connection with a divorce. Need something else?

Warranty Deed Vs Quit Claim Deed In Bronx

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Is a warranty deed better than a quitclaim deed?

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