Bargain and Sale Deed in CO, NY, VT, WA and WY

A Bargain and Sale Deed is a legal document used to transfer property ownership from a seller to a buyer. It is commonly used to transfer residential property in Colorado (CO), New York (NY), Vermont (VT), Washington (WA), and Wyoming (WY). While the parties involved are usually familiar with each other, a Bargain and Sale Deed can also be used when the court seizes a property.

A Bargain and Sale Deed resembles a Quit Claim Deed, since it is usually drafted without guarantees to the buyer that the seller owns the property free and clear (though the seller must disclose any existing debts). Bargain and Sale Deeds can also be written with covenants, where the seller would guarantee that he owns and can sell the property, and that there are no undisclosed debts. These covenants, or guarantees, resemble a Grant Deed.

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Laws on this topic may vary from state to state. This content is not meant to provide you with complete information and it is not intended to be legal or tax advice. It is recommended that you consult with your own attorney, accountant or other advisor regarding your specific situation.