A deed is a legal instrument that transfers some property right in real estate. Almost all states require that a deed be notarized and filed, and some states require that it also be witnessed.

Deeds in their most basic form contain:

A description of the real estate involved The names of the respective parties The signature of the person transferring the real estate

What are the basic types of property deeds in New York?

Warranty Deed If a deed is intended to be a general warranty deed, it should contain a phase specified by state law such as the phrase conveys and warrants. These words, called operative words of conveyance, carry with them several warranties which the grantor is making to the grantee. Examples of the warranties are:

First, the grantor warrants that the grantor is the lawful owner of the property at the time the deed is made and delivered and that the grantor has the right to convey the property.

Second, the grantor warrants that the property is free from all encumbrances or liens.

Third, the grantor warrants that he or she will defend title to the estate so that the grantee and the grantees heirs and assigns may enjoy quiet and peaceable possession of the premises with the power to convey the property.

Quitclaim Deed A quit claim deed conveys to the grantee and the grantees heirs and assigns in fee all of the legal or equitable rights the grantor has in the property that existed at the time of the conveyance. An example of operative words of conveyance are convey and quit claim. There are no warranties of title.

Special Warranty Deed In contrast to a general warranty deed, a special warranty deed limits the liability of the grantor by warranting only what the deed explicitly states. A special warranty deed has practically the same effect as a quitclaim deed. Special warranty deeds are generally used by corporations or other entities that want to avoid assuming the liability of a general warranty deed. Like the general warranty deed, the special warranty deed should contain the appropriate language such as conveys and specially warrants. Usually, the grantor warrants that he or she did nothing to impair title during the period the grantor held the title. While a special warranty deed may contain covenants of title, these covenants will usually cover only those claims arising by, through, or under the grantor.

Fiduciary Deed This is a deed to be executed by a fiduciary such as a trustee, guardian, conservator, or similar person in their appointed capacity.