A Bronx New York Warranty Deed from two individuals to a husband and wife is a legal document that transfers ownership of a property located in the Bronx, New York, from two individuals to a married couple. This type of deed guarantees that the sellers, often referred to as granters, hold clear and marketable title to the property and have the legal right to transfer it. In the Bronx, there are several variations of the Warranty Deed that can be used for this purpose. Some common types include: 1. General Warranty Deed: This type of deed provides the highest level of protection for the buyers (grantees) as it assures that the sellers will defend the title against any past or future claims. 2. Limited Warranty Deed: Unlike the general warranty deed, a limited warranty deed only guarantees that the sellers will defend the title against any claims that may have arisen during their ownership. It offers less protection to the buyers as it does not cover any prior claims that may exist. 3. Special Warranty Deed: This type of deed is similar to the limited warranty deed but provides even narrower protection. It guarantees that the sellers will defend the title against any claims that may have arisen during their ownership, but only based on their own actions and not from any previous owners. When preparing a Bronx New York Warranty Deed from two individuals to a husband and wife, certain key elements should be included. These may consist of: 1. Identification of the Granters: The names, addresses, and legal descriptions of the individuals selling the property should be clearly stated. 2. Identification of the Grantees: The names, addresses, and legal descriptions of the married couple who will be receiving ownership of the property. 3. Property Description: A precise description of the property being transferred, including its address, lot number, and any other relevant identifying details. 4. Consideration: The amount of money or value exchanged between the parties as part of the transfer should be specified. 5. Warranty Clause: A declaration by the granters that they legally own the property and have the authority to sell it. This clause will also outline the extent of the warranty being provided. 6. Signatures and Notarization: The deed should be signed by all granters in the presence of a notary public, who will then seal and sign the document as well. It is important to consult with a qualified real estate attorney or title company when creating or reviewing a Bronx New York Warranty Deed from two individuals to a husband and wife, as specific requirements and regulations may vary.
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Under New York law, a deed must be signed with a notary public present and once filed at the County Clerk's office the title to the property becomes officially in the new owner's name.
The property will be distributed equally among the remaining owners when one owner dies, so no one person can own a bigger share than another. All owners must have part ownership in the entire property, without limiting any owner's access to any part of the property.
Adding a name to the deeds Equity transfer is not just about removing a name from the deeds. It also includes adding a name. For example, parents may want to add their children to the deeds of the family home. When someone marries their partner, they may want to add them to the deeds of the property they already owned.
To add a spouse to a deed, all you have to do is literally fill out, sign and record a new deed in your county recorder's office.
' Spouses typically acquire title as ?tenants by the entireties,? which only applies to spouses. Sometimes you will see a couple who acquired the property before marriage. In some states, a pre-marital joint tenancy automatically becomes tenants by the entireties upon marriage.
A third type of joint asset ownership in New York common enjoyed by married couples is known as tenancy by the entirety and often applied to home ownership. In fact, unless the dead to the real property specifies otherwise, home residences are automatically held in tenancy by the entirety in New York.
Real property can be held (titled) in one of three ways: tenants in common, Joint Tenants with Rights of Survivorship, or Tenancy by the Entirety.
It is generally okay to have two names on title and one on the mortgage. If your name is on the deed but not the mortgage, it means that you are an owner of the home, but are not liable for the mortgage loan and the resulting payments.
In New York, whenever more than one person buys or inherits property together, it is automatically held as tenants in common, unless they are husband and wife. If a tenant in common dies, the deceased person's interest passes to their heirs or to the person specified in the terms of the deceased person's will.
Adding someone to your house deed requires the filing of a legal form known as a quitclaim deed. When executed and notarized, the quitclaim deed legally overrides the current deed to your home. By filing the quitclaim deed, you can add someone to the title of your home, in effect transferring a share of ownership.
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The real estate was acquired on this lot at the same time a mortgage was issued.” See all those? That's not all. The Commons also sold the property to a bank. The bank had bought it from the Commons in the fall of 1928. The Commons are listed as the buyer. In 1930 the Commons sold the property again to a family named Johnson and then again in 1931 to a group of creditors. The records indicate the final sale price was about 5,000 or 6,000. The home sat vacant for nearly five decades. It was finally demolished in 1983. A note hidden in a basement In October 2002, there was discovered a door hidden in a basement. “On September 10, 2012, archaeologists excavating the home uncovered a small door, one side of which was covered by plaster,” Pittsburgh Press reported. The original plan was to leave it that way, but after consulting with archaeologists, the city determined it was too large to cover completely, and it was left in place, the press report said.
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