This form is a Bargain and Sale Deed with Covenants Against Grantor's Acts between Husband and Wife, party of the first part, and the Trustees of a Revocable Trust as party of the second part. This deed complies with all state statutory laws.
The Kings New York Bargain and Sale Deed with Covenant Against Granters Acts — Husband and Wife to Trust is a legal document used in real estate transactions in Kings County, New York. This type of deed is specifically designed for situations where a property is being transferred from a married couple to a trust, ensuring ownership protection and providing certain guarantees to the buyer. Keywords: Kings County, New York, bargain and sale deed, covenant against granters acts, husband and wife, trust, real estate transactions, property transfer, ownership protection, guarantees, buyer. Different types of Kings New York Bargain and Sale Deed with Covenant Against Granters Acts — Husband and Wife to Trust include: 1. Irrevocable Trust Deed: This type of deed establishes an irrevocable trust, indicating that once the property is transferred to the trust, it cannot be revoked or transferred back to the original owners without the consent of all beneficiaries involved. 2. Revocable Trust Deed: Unlike the irrevocable trust deed, a revocable trust deed allows for the transfer of the property to the trust, while still giving the original owners the ability to modify or revoke the terms of the trust. 3. Living Trust Deed: This type of deed is particularly useful when the property owners intend to transfer their assets to a trust while they are still alive. By doing so, they can ensure a smooth transition of the property to their designated beneficiaries upon their death, without the need for probate. 4. Testamentary Trust Deed: This deed comes into effect upon the death of the granters. It allows for the transfer of the property from the deceased couple to a trust, to be distributed according to the terms specified in their will. 5. Special Needs Trust Deed: This type of deed is designed for the purpose of protecting the interests of individuals with special needs or disabilities who may be entitled to government benefits. By transferring the property to a special needs trust, the granters can ensure that their loved ones receive proper care and support without jeopardizing their eligibility for assistance programs. Overall, the Kings New York Bargain and Sale Deed with Covenant Against Granters Acts — Husband and Wife to Trust offers a secure and legally binding means for married couples to transfer their property to a trust, ensuring ownership protection and safeguarding the interests of all parties involved.
