Bargain and Sale Deed with Covenant Against Grantor's Acts (NY)

by Practical Law Real Estate

A Standard Document for a bargain and sale deed with covenant against grantor's acts facilitates the transfer of title for commercial or residential real property in New York. This deed provides the grantee with assurance that the grantor has not committed any act that would encumber the property's title, except as specified in the deed. It includes a covenant under Section 13 of the New York Lien Law, ensuring that the grantor holds the consideration as a trust fund to cover improvement costs. This document outlines the essential components of a deed, including the granting clause, legal description, and execution requirements. The deed must be in writing to satisfy the statute of frauds, identify both parties, and include a recital of consideration. Recording the deed is necessary to protect against third-party claims, and title insurance is recommended for additional security. The document also addresses remote electronic notarization under New York's notarization laws.