Executor's / Administrator's Deed - New York

EXECUTOR'S / ADMINISTRATOR'S DEED

(New York Fiduciary Deed)

State of New York

Recording Requested By:
_____________________________________________

After Recording Return To:
_____________________________________________
_____________________________________________
_____________________________________________

Tax Map Designation:
Section: _______ Block: _______ Lot: _______

SPACE ABOVE THIS LINE FOR RECORDER'S USE

DOCUMENT INFORMATION

EXECUTOR'S / ADMINISTRATOR'S DEED

CONSULT YOUR LAWYER BEFORE SIGNING THIS INSTRUMENT — THIS INSTRUMENT SHOULD BE USED BY LAWYERS ONLY

This Indenture, made the _____ day of _________________, 20_____.

ARTICLE I: PARTIES

Section 1.1 Grantor / Party of the First Part (Fiduciary)

BETWEEN:

_____________________________________________
(Name of Fiduciary)

as ☐ Executor ☐ Administrator ☐ Administrator C.T.A. of the Estate of _________________________ ("Decedent"), and not individually,

residing / having an office at _____________________________________________

hereinafter referred to as the "Grantor" or "Party of the First Part".

Section 1.2 Grantee / Party of the Second Part

AND:

_____________________________________________
(Name)

whose post office address is _____________________________________________
_____________________________________________

Vesting:
☐ Single
☐ Married
☐ As joint tenants with right of survivorship (and not as tenants in common)
☐ As tenants in common
☐ As tenants by the entirety
☐ A _________________ [entity type], having an office at _____________________________________________

hereinafter referred to as the "Grantee" or "Party of the Second Part".

ARTICLE II: RECITALS — ESTATE AND FIDUCIARY AUTHORITY

Section 2.1 The Estate

The Party of the First Part was duly appointed and qualified by the Surrogate's Court of _________________ County, New York, as the fiduciary of the Estate of the Decedent, and the Letters issued as set forth above remain in full force and effect and have not been revoked, suspended, or limited.

Section 2.2 Authority to Convey

The Party of the First Part makes this conveyance pursuant to the fiduciary's power to sell covered property under EPTL § 11-1.1(b)(5)(B) and to execute and deliver deeds under EPTL § 11-1.1(b)(17), subject to contrary or limiting provisions and, where applicable, the disposition provisions of SCPA §§ 1901–1902. Authority arises from (check all that apply):

☐ A power of sale contained in Article _____ of the Decedent's Last Will and Testament admitted to probate on [__/__/____];

☐ The statutory fiduciary power under EPTL § 11-1.1(b)(5)(B), with no contrary or limiting provision appearing in the decree, the will, or any subsequent order;

☐ A decree or order of the Surrogate's Court authorizing or directing the disposition of the real property under SCPA §§ 1901–1902, dated [__/__/____], File No. _________________;

☐ Other authority: _____________________________________________

ARTICLE III: CONVEYANCE

Section 3.1 Granting Clause

WITNESSETH, that the Party of the First Part, in consideration of $_____________________ (____________________ Dollars) lawful money of the United States, and other good and valuable consideration paid by the Party of the Second Part, does hereby GRANT AND RELEASE, in the representative capacity described above and not individually, unto the Party of the Second Part, the heirs or successors and assigns of the Party of the Second Part forever, all the right, title, and interest of the Decedent and of the Estate in and to:

Section 3.2 Legal Description

ALL that certain plot, piece or parcel of land, with the buildings and improvements thereon erected, situate, lying and being in the:

☐ Borough of _________________, City of New York
☐ Town of _________________, County of _________________
☐ Village of _________________, County of _________________
☐ City of _________________, County of _________________

State of New York, bounded and described as follows:

See Schedule "A" annexed hereto and made a part hereof.

Tax Map Designation: Section _______ Block _______ Lot _______

Property Address: _____________________________________________

ARTICLE IV: LIMITED / FIDUCIARY COVENANT AND SUBJECT-TO

Section 4.1 Covenant Against Grantor's Acts (Limited)

The Party of the First Part covenants, solely in the representative capacity and not individually, that the Party of the First Part has not done or suffered anything during the administration of the Estate whereby the said premises have been encumbered in any way whatever, except as set forth herein. No further or general warranty is made, and this deed conveys only such title as the Decedent held at death and as the Estate is empowered to convey.

Section 4.2 Together With / Subject To

TOGETHER with all right, title and interest, if any, of the Party of the First Part in and to any streets and roads abutting the above described premises to the center lines thereof; TOGETHER with the appurtenances and all the estate and rights of the Party of the First Part in and to said premises;

SUBJECT TO:

(a) Zoning regulations, restrictions, and ordinances of any governmental authority having jurisdiction;

(b) Covenants, easements, and restrictions of record, if any;

(c) State of facts an accurate survey would show;

(d) Real property taxes for the fiscal year beginning _________________, 20_____, not yet due and payable;

(e) Claims of creditors of the Estate and rights, if any, reserved to the Surrogate's Court;

(f) The following specific exceptions:

☐ None

☐ As set forth below:
_____________________________________________
_____________________________________________

ARTICLE V: TRANSFER TAX INFORMATION

Section 5.1 New York State Transfer Tax (Tax Law Article 31)

Consideration: $_____________________

☐ Standard Rate (Under $3,000,000): $2.00 per $500 (0.4%)
☐ Higher Rate ($3,000,000 and above): $6.50 per $500 (0.65%)

NYS Transfer Tax Due: $_____________________

Section 5.2 Mansion Tax (Tax Law § 1402-a)

☐ Not Applicable — Consideration is less than $1,000,000
☐ Applicable — 1% (plus supplemental rates) for residential property with consideration of $1,000,000 or more

Mansion Tax Due: $_____________________

Section 5.3 New York City Transfer Tax (if applicable)

☐ Not Applicable — Property not in NYC
☐ Residential Under $500,000: 1.0%
☐ Residential $500,000 and above: 1.425%
☐ Commercial Under $500,000: 1.425%
☐ Commercial $500,000 and above: 2.625%

NYC Transfer Tax Due: $_____________________

Section 5.4 Required Returns

Form RP-5217 (Real Property Transfer Report) and Form TP-584 (Combined Real Estate Transfer Tax Return) must accompany this deed.

ARTICLE VI: EXECUTION

Section 6.1 Testimonium and Lien Law Covenant

TO HAVE AND TO HOLD the premises herein granted unto the Party of the Second Part, the heirs or successors and assigns of the Party of the Second Part forever.

AND the Party of the First Part, in compliance with Section 13 of the Lien Law, covenants that the Party of the First Part will receive the consideration for this conveyance and will hold the right to receive such consideration as a trust fund to be applied first for the purpose of paying the cost of the improvement and will apply the same first to the payment of the cost of the improvement before using any part of the total of the same for any other purpose.

IN WITNESS WHEREOF, the Party of the First Part has duly executed this deed, in the representative capacity, the day and year first above written.

GRANTOR (Party of the First Part), in representative capacity only:

_____________________________________________
Signature

_____________________________________________
Printed Name, as ☐ Executor ☐ Administrator ☐ Administrator C.T.A. of the Estate of _________________________

ARTICLE VII: ACKNOWLEDGMENT (REPRESENTATIVE CAPACITY)

Section 7.1 New York Acknowledgment

STATE OF NEW YORK
COUNTY OF _________________ ss.:

On the _____ day of _________________ in the year 20_____, before me, the undersigned, a Notary Public in and for said State, personally appeared:

_____________________________________________

personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he/she executed the same in his/her capacity as Executor / Administrator of the Estate of _________________________, and that by his/her signature on the instrument, the individual, or the Estate upon behalf of which the individual acted, executed the instrument.

_____________________________________________
Notary Public

[NOTARIAL SEAL]

Section 7.2 Out-of-State Acknowledgment

STATE OF _________________
COUNTY OF _________________ ss.:

On the _____ day of _________________ in the year 20_____, before me, the undersigned, a Notary Public in and for said State, personally appeared _____________________________________________, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he/she executed the same in his/her capacity as fiduciary of the Estate of _________________________, and that by his/her signature on the instrument, the individual, or the Estate upon behalf of which the individual acted, executed the instrument.

_____________________________________________
Notary Public

[NOTARIAL SEAL]

SCHEDULE A — LEGAL DESCRIPTION

Legal Description of Property:

ALL that certain plot, piece or parcel of land, with the buildings and improvements thereon erected, situate, lying and being in:

_____________________________________________
_____________________________________________
_____________________________________________
_____________________________________________
_____________________________________________
_____________________________________________
_____________________________________________

NEW YORK RECORDING REQUIREMENTS AND INFORMATION

Recording Requirements

New York State Transfer Tax (Tax Law Article 31)

Mansion Tax (Tax Law § 1402-a)

Required Accompanying Documents

1. Form RP-5217 — Real Property Transfer Report
2. Form TP-584 — Combined Real Estate Transfer Tax Return
3. Certified Letters / Surrogate's Decree — evidence of fiduciary authority

Important Legal Notes

1. Power to Sell: EPTL § 11-1.1(b)(5)(B) supplies the covered sale power subject to the section's property-specific and contrary-or-limiting-provision gates; where authority is doubtful, a Surrogate's Court disposition under SCPA Article 19 (§§ 1901–1902) may be sought.

2. Representative Capacity: The fiduciary executes and acknowledges only in the representative capacity; no personal warranty is given.

3. Multiple Executors: Where fewer than all qualifying executors execute, see EPTL § 11-1.4 regarding validity of the power to sell.

4. Lien Law § 13: The trust-fund covenant must be included.

5. Title Insurance and Legal Counsel: Grantees should obtain title insurance; consultation with a licensed New York attorney is strongly recommended.

THIS INSTRUMENT WAS PREPARED BY:

_____________________________________________
Name

_____________________________________________
Address

_____________________________________________
Phone

This template is provided for informational purposes only and does not constitute legal advice. Consult with a licensed New York attorney before using this form.