Deed Transfer Lawyers in New York
Mekhtiyev Law Firm has seasoned real estate attorneys who have been offering legal services in a vast array of real estate matters, including deed transfers, to clients in the entire New York area. We understand that purchasing real estate is a costly and complicated process, involving countless issues such as surveys, negotiations, contracts, mortgages, title defects, and more. By the end of the road, all you want is to move into your newly purchased property.
However, before you can do so, you need to have the deed to the property properly transferred to your name. This is where our attorneys come into play. We can offer you sound legal advice and guide you through a hassle-free land/deed transfer process.
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Why Hire an attorney to transfer ownership of a property in New York
Contrary to popular belief, deed transfer isn’t as simple as it might seem. Since a deed is the actual evidence of property ownership, it carries legal and financial consequences. Even a minor error in the process of a deed signing and recording with the county clerk’s office can result in far-reaching consequences.
Fixing issues in the recorded deed years after it has been signed can be difficult, especially if the parties that executed it cannot be located or have since passed away. This is one reason why you should always have a competent real estate attorney present when transferring title via deed.
At Mekhtiyev Law Firm, our experienced attorneys handle real estate deed transfers and advise our clients on these particular areas:
- Deed transfers within the family
- Property or cash gifts to family and friends
- Removing a member from ownership
- Deed transfer to a trust
- Deed transfer to an LLC or corporation
- Guidance on whether a deed transfer will violate a due on sale clause, which is present in many residential mortgages and states that the mortgage will become instantly due in case of a deed transfer
- Filing correction deeds to correct issues in previously filed deeds
- Guidance on the different forms of ownership, such as joint tenancy with rights of survivorship, tenants in common, tenants by the entity, etc., and determining which type is best for your unique circumstances
- Comprehensive advice on various deed types, such as warranty, special warranty, and quitclaim
- Preparing and filing the required documentation and fees for recording the deed and other transfer documents
When You Might Need the Services of a Deed Transfer Lawyer in NY
You might need the services of Mekhtiyev Law Firm real estate lawyers when creating a new need or altering your existing deed. Here are some circumstances in which you might need to alter an existing deed’s status:
- Buying or selling a property
- Transferring the ownership of a property to a company or trust
- Marriage or its dissolution
- Giving a property away as a gift
- Refinancing property mortgage
- Executing the will of a deceased loved one
- Acquiring a home equity line of credit
Taking out a home equity
What is a Deed?
A real estate deed is a legally binding document that describes the real estate transfer. It’s the first thing the law looks at to determine the individual or entity that has legal title to the property. Residential deeds identify the seller, i.e., the Grantor, and the purchaser, i.e., the Grantee, provide a detailed description of the property, and are endorsed by the seller’s signature. The Grantor’s signature must be notarized for the need to become effective.
Types of Deeds
We can provide you with comprehensive guidance on the following types of deeds:
A quitclaim deed is a common form of deed that transfers property ownership without offering the new owner any legal warranties post-closing. This is why receiving such a deed from a property owner can be risky, as it does not guarantee that the Grantor even has a legitimate ownership interest in the property. The best course of action is to hire an attorney to review a quitclaim deed and check the legal chain of title.
General Warranty Deeds
A general warranty deed is a legally secure and complex deed that pledges that the Grantor owns the real estate without any mortgages, outstanding liens, or judgments attached to the property. If the new owner discovers a title defect several years down the line, the seller will be responsible for that warranty breach. Since these deeds offer excellent protection to home buyers, they are pretty uncommon as home sellers are reluctant to agree to them.
Special Warranty Deeds
These types of deeds are common in residential sales as they offer assurance that the seller is the actual owner of the property and has not encountered any issues or title defects during their ownership of the property. This deed offers some level of protection for the purchaser against the seller’s actions.
A bargain deed warrants that the seller owns the property but does not protect the buyer against encumbrances to the title. So, it’s best to consult a real estate attorney in New York before signing or consenting to such a document.
A grant deed offers the warranty that the seller owns the property and hasn’t transferred it previously. It also identifies title defects and property easements.
This deed is not available to NY property owners and is pretty uncommon elsewhere. It states that the deed will automatically transfer to the buyer on the seller’s death. If you have a transfer-on-death deed outside the state of NY, consult our deed transfer lawyers in New York for guidance or referrals to other attorneys who can handle the out-of-state matter.
The Cost of Deed Transfer in New York
Typically, the deed filing fees are paid to the County Clerk’s Office and are fairly minimal. However, the ultimate deed transfer cost will be based on the type of transfer both parties agree on. You will also have to face other expenses, such as real estate transfer taxes paid to the local and state government, normally by the seller unless agreed upon otherwise. Moreover, if you hire a real estate attorney, you will have to pay them a legal fee for their services and expertise. With that said, hiring the right firm can save you from future monetary and legal troubles.
What Does the Deed Transfer Process Entail?
Firstly, you will need to reach out and consult our experienced deed transfer attorney to draft and prepare the deed and transfer documents for your execution. Once you provide us with the basic property information, we will inquire with the title company to establish the exact amount of recording fees that will be paid to NYC and NYS for the transfer. Once the documents have been drafted and approved for recording by the title company, the Grantor(s) will sign all of the documents. Once the documents have been signed and notarized, the full set of original fully executed documents are sent to the title company for recording in the County Clerk’s office where your property is located. This process makes it public information that the new Grantees are the bonafide owners of the property and protects against false claims of ownership.
Let Us Help You with Deed Transfers in New York
The real estate lawyers at Mekhtiyev Law Firm are experts in crafting deed transfers in New York. We can help you secure your real estate future with seamless deed conveyances in the Tristate area, including Long Island (Suffolk and Nassau Counties), Brooklyn, Queens, Manhattan, Bronx, and Westchester!
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