Sarah is purchasing a property in Albany, New York. The seller wants to convey the property with a deed that provides the maximum protection to Sarah as the grantee. Which type of deed should the seller use?
Correct Answer
A) Full covenant and warranty deed
A full covenant and warranty deed provides the maximum protection to the grantee in New York. It includes all six covenants: seisin, right to convey, against encumbrances, quiet enjoyment, warranty, and further assurances. The grantor warrants against defects for the entire chain of title, not just their own period of ownership.
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Amanda is considering purchasing either a condominium or cooperative apartment in New York City. Her attorney explains the key difference regarding financing. What is the primary financing difference between condominiums and cooperatives?
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Michael owns property in Rochester and wants to transfer it to his daughter Jennifer while retaining the right to live on the property for the rest of his life. Under New York law, what type of deed arrangement should Michael use?