New York Partition Warranty Deed

• Category: Civil Actions - Partitions
• State: Multi-State
• Control #: US-01604
• Format: Word; Rich Text

Description

This form is a Partition Warranty Deed. The purpose of the form is to divide up a tract of property into parcels to be distributed to heirs. Adapt to fit your circumstances. A New York Partition Warranty Deed is a legal document used in the state of New York to transfer ownership rights of real property from one party to another. It is commonly utilized in cases involving property division or partition among co-owners, typically in situations where such co-owners wish to divide the property or sell their individual share. The New York Partition Warranty Deed provides a warranty by the seller, known as the granter, affirming that they are the rightful owner of the property and have the legal authority to transfer it. This deed guarantees that the property is free from any encumbrances, liens, or claims, except as explicitly stated in the deed. It assures the buyer, known as the grantee, that they will receive a clear and marketable title. New York recognizes two main types of Warranty Deeds: General Warranty Deeds and Special Warranty Deeds. 1. General Warranty Deed: This type of deed offers the highest level of protection for the buyer. The granter warrants and guarantees the title against any defects, claims, or encumbrances that may have existed from previous owners, even if it predates their ownership. This means that the buyer can claim compensation from the granter if they encounter any issues with the title. 2. Special Warranty Deed: In a Special Warranty Deed, also called a Limited Warranty Deed, the granter only guarantees that they have not caused any defects on the title during their ownership. Unlike the General Warranty Deed, the granter does not warrant any issues that might have arisen from previous owners. The buyer's protection is limited to the period in which the granter held ownership of the property. It is crucial for both the granter and the grantee to understand the specific terms and conditions of the New York Partition Warranty Deed before signing and executing the document. Ensuring the deed is prepared and executed accurately is essential to safeguarding the rights and interests of both parties involved in the property transfer.

A New York Partition Warranty Deed is a legal document used in the state of New York to transfer ownership rights of real property from one party to another. It is commonly utilized in cases involving property division or partition among co-owners, typically in situations where such co-owners wish to divide the property or sell their individual share. The New York Partition Warranty Deed provides a warranty by the seller, known as the granter, affirming that they are the rightful owner of the property and have the legal authority to transfer it. This deed guarantees that the property is free from any encumbrances, liens, or claims, except as explicitly stated in the deed. It assures the buyer, known as the grantee, that they will receive a clear and marketable title. New York recognizes two main types of Warranty Deeds: General Warranty Deeds and Special Warranty Deeds. 1. General Warranty Deed: This type of deed offers the highest level of protection for the buyer. The granter warrants and guarantees the title against any defects, claims, or encumbrances that may have existed from previous owners, even if it predates their ownership. This means that the buyer can claim compensation from the granter if they encounter any issues with the title. 2. Special Warranty Deed: In a Special Warranty Deed, also called a Limited Warranty Deed, the granter only guarantees that they have not caused any defects on the title during their ownership. Unlike the General Warranty Deed, the granter does not warrant any issues that might have arisen from previous owners. The buyer's protection is limited to the period in which the granter held ownership of the property. It is crucial for both the granter and the grantee to understand the specific terms and conditions of the New York Partition Warranty Deed before signing and executing the document. Ensuring the deed is prepared and executed accurately is essential to safeguarding the rights and interests of both parties involved in the property transfer.