More details to this question:
I've got a real estate closing this week I'm not confident with my Iawyer, There is no bank involved because I'm paying all cash This is in the New York State, New York City I'm coming in with certified funds for the purchase What I want to know is what documents will I received at closing to make sure that I bought the property properly What documents should I leave the closing with? What proof will I have that I bought the property properly and everything is ok and that now I am the rightful owner
1 ANSWER
Real Estate Attorney serving New York, NY
at
Schechter & Brucker, P.C.
Update Your Profile
When you buy real estate in New York, the only thing that proves you own it is a deed, which is a document signed by the owner saying that they are transfer it to you. That deed is then recorded in the County Clerk's office, and this allows the world to see that you are the owner. It is recorded on the properties block and lot, which is a unique designation identifying that piece of real estate.
Though this is simple, there is one other item which you should have. Any one purchasing real estate in New York State should also have a title insurance company insure you that you have good and marketable title. This may cost you extra money, but it's worth it, since before they issue the insurance (and before you purchase it), the do a "title search" which discloses any title defects (and other useful information).
With a deed (properly recorded) and a title insurance policy, you should feel comfortable that your title is "good".
Answered on Jul 15th, 2013 at 3:14 PM