A New York bargain and sale deed is a type of special warranty deed that legally transfers the title to real property from a seller to a buyer (“grantor” and “grantee,” respectively) while guaranteeing the seller’s right to transfer. There are two (2) types of bargain and sale deeds statutorily recognized in New York: one has a covenant (warranty) against the grantor, and one has no warranty whatsoever.
The deed containing the covenant guarantees that the grantor neither suffered nor caused any property encumbrances during their ownership (this warranty does not cover past owners). In contrast, the bargain and sale deed without warranty does not guarantee the title quality, thus leaving the grantee liable for all preexisting encumbrances.
- Statutes: § 258 Schedule C & Schedule F
- Formatting: There are no specific requirements; however, deed filers should contact the County Clerk or City Register to verify local formatting standards.
- Signing Requirements (§ 306): Notary Public
- Where to Record (§ 291): County Clerk or City Register (Outside NYC – Inside NYC)
- Recording Fees: Around $40 to $50 depending on the number of pages in the deed and the local recording fees.
- RP-5217-PDF – Needed if transferring real estate located outside of New York City.
- RP-5217NYC – Needed if transferring real estate located in New York City.
- Form IT-2663 – Must be completed by the grantor if they reside outside of New York State.
- Form TP-584 – Needed to report the transfer tax on real estate located outside of New York City.
- Form TP-584-NYC – Needed to report the transfer tax on real estate located in New York City.
- Endorsement Cover Sheet – May be obtained from County Clerk or City Register (not required in all counties).