Legal Question in Real Estate Law in New York

Re: quit claim deed

Run a title search or an abstract.

Good Luck.

Re: quit claim deed

A quitclaim deed merely transfers whatever rights the grantor has. If he has none, that is what you get.

Re: quit claim deed

Ordering title work usually entails a financial commitment, and (at least in Downstate practice) is usually reserved until a contract is in place. To put the horse back in front of the cart, ask yourself "why is this a good idea?" The question posted is fairly open-ended, but some of the questions I would ask in person are: (1) location (location and location are the three most important things about any parcel of real estate); (2)current use; (3)permitted uses; (4)intended use; (5) source of funds for purchase and development. These questions all have follow-ons. For example, if the current use is a rental property, one would ask to see the lease(s), rent roll, credit standing of the tenant(s) and insurance policies. And so it goes.

Donald Trump taught us in _The Art of the Deal_ to worry about the downside and let the upside take care of itself. You need to do the hard thinking before you need to examine title and close. You should engage counsel; just keep a short leash on him/her to keep the costs under control. Remember, there is such a thing as real estate that has a negative value, so don't let the low purchase price deceive you.

Re: quit claim deed

they say that if an offer sounds too good to be true that if ususlly is. you should have an attorney frview these properties call for free consultation at 212 683 8677