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  1. #1
    Join Date
    Dec 2012
    Posts
    4

    Default Change of Deed Type in Filing

    My question involves real estate located in the State of: New York

    Last year I created a revocable trust in my name which included a piece of property in upstate NY among the assets. The Bargain and Sale deed that was originally in my name was filed with the county in the name of the trust, but mistakenly as a Quit Claim deed. I've been assured that it's inconsequential and won't affect transferability
    of the property upon sale or my death. Is that reliable information? What might be the repercussions?

  2. #2
    Join Date
    Sep 2010
    Posts
    19,901

    Default Re: Change of Deed Type in Filing

    The deed type determines what sort of representation the grantor is making with respect to the validity of the deed. A general warranty deed says that he owns all the rights that he is conveying and is guaranteeing their validity. Special warranty deeds generally say that the owner believes he owns the place and has not done anything during his ownership that would alter that, but makes no warranty about any defects in title before he acquired it. A quit claim deed makes no representations as to whether you own the property or not, but conveys whatever rights you do have, without warrant to the grantee.

    I could make you a quit claim deed conveying you my interest in Yankee Stadium. Since I own no part of it, it would be worthless.
    If I quit claimed you interest in my house, it would be worth over a million dollars, as I do own that without encumbrance.

    A quit claim of your property into your revocable trust shouldn't be an issue. After you are dead, any warranties you made aren't going to be worth a whole lot (unless there are tons of other assets in the trust).

    It shouldn't make any "transferability" issues at all. Regardless of the form of deed, a grantee would be foolish to not do a title search that would determine just what property ownership there is (it's not just the last deed, it's the entire chain of deeds on the property) and purchase TITLE INSURANCE that would indeed safely WARRANT the findings of that search.

  3. #3
    Join Date
    Jul 2012
    Posts
    479

    Default Re: Change of Deed Type in Filing

    You don't say why you view the quit claim deed (presumably from yourself to yourself as trustee of this trust) is a "mistake". It would be normal to use a quit claim deed. (If I were buying the place from you, I'd naturally insist on a warranty deed representing that the place is yours and you have the right to sell it to me, etc.)

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