Deeds

Act of Conveyance

A clause in the deed that states the grantor intends to convey title to the land. Also called the granting clause, these words identify the document as one that involves the transfer of interest from one person to another. The wording of the deed must communicate a definite and clear intent by the grantor to part with the subject land. The words "give, grant, bargain, sell, and convey" leave no doubt as to the intent of the grantor.

Signatures

A deed must contain the signatures of all grantors. While it's not a requirement of a valid deed, to ensure they are in face receiving a "good" title, grantee a should always require acknowledgement, which means the party signing the deed declares declares before a public official, such as a notary public, or judge that it was signed voluntarily and the signature is genuine. Grantee do not need to sign the document.

Competent Grantor

A person to wishes to grant or convey land, is of sound of mind for the purposes of entering a contract, and has reached the age of majority, which in is New York 18.

Deed

An instrument that conveys a grantor's interest, if any, in real property a deed can also be referred as a conveyance. The document used by a real property owner to transfer all or part of the interest in the property to another and is mere evidence of title.

Considerarion

Anything of value such as money, goods, services, or promises given to induce another person to enter into a contract. To be valid, a deed must contain a clause acknowledging the grantor did in fact, receive some type of consideration for the land. In New York, the actual price paid need not be recited, but the full consideration must be attend when the deed is signed by a fiduciary, such s an executor, or by a referee in case involving public sale, such as foreclosure.

Exceptions and Reservations

Anything that affects the property, such as an easement;must be expressly noted on the deed. These are also known as "subject to" clauses.

Full Covenant and Warranty Deed

Contains the strongest and broadest for of guarantee of title of any type of deed and greatest protection of any deed to the grantee. In this type of deed, the grantor makes various con enacts, or warranties. These warranties are legal promises that the grantee will enjoy full and unencumbered ownership. A full covenant and warranty deed usually contains these covenants.

Delivery and Acceptance

Even when a deed had been properly executed, it has no legal effect until there has been delivery of the deed by the grantor with the intention of transferring title and acceptance by the grantee receiving the land. This delivery and acceptance must take place while the grantor is alive, or is has no legal effect. Delivery may be made directly to the grantee, or representing agent, such as an attorney, or real estate broker. Once a deed is delivered and accepted, the grantee holds title to the land. Title cannot be re-conveyed by destroying the deed or returning it to the grantor. If the grantee wishes to give the land back she would have to execute a new deed transferring title back to the original grantor.

Essential Elements of a Valid Deed

For a dead to be valid in a New York, IT MUST BE IN WRITING, as required by the Statute of Frauds, and it must include the following elements: Competent Grantor, Identifiable Grantee, Act of Conveyance, Considerations, Legal Descriptions, Habendum Clause, Limitations, Exceptions and reservations, signatures, Delivery and Acceptance

Limitations

How property may or may not be used, such as a deed restriction; must be noted.

Habendum Clause

Often included after the granting clause, it describes the type of estate granted and must always agree with the granting clause. The clause is easy to identify; it begins with , "to have and to hold."

Legal Description

The legal description of the property being conveyed should be thorough and complete. The test of a valid property description is the ability to identify and distinguish that property from any and all other parcels of land.

Identifiable grantee

The person, to whom the interest in real property is to be conveyed and identified in such a way to reasonably separate this person from all others in the world. This would include getting proper and complete full names of the grantee(s), as well as designations, such as Jr., Sr, etc. If the deed is to be recorded, New York required both the grantor and grantee to be identified by address.

Types of Deeds

There are many types of deeds based on the various warranties contained within the document. Further, a deed may have several variations depending on the purpose for which it was drawn. In New York, the full covenant and warranty deed, the bargain and sale deed, and the quitclaim deed are used most frequently.