A New York Gift Deed is used when a person wants to gift or donate property, including real estate, to another person or party, where the receiver will not be expected to give money or other valuables in exchange for the gift. All terms of a gift deed must be clearly written out in the documentation to avoid having any part of the agreement later contested through the courts. The deed will require a full description of the property and any restrictions connected to it. The gift deed, recording cover page for the deed, and all additional documentation will need to be filed in the land records within the local recording office.
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