Owner's Statement - New York

Owner's Statement is a legal document that was released by the New York State Department of Environmental Conservation - a government authority operating within New York.

FAQ

Q: What is the Owner's Statement in New York?A: The Owner's Statement is a document that provides information about the owner of a property in New York.

Q: Why is the Owner's Statement important?A: The Owner's Statement is important because it verifies the ownership of the property and provides details about the owner, such as their contact information and any outstanding liens or mortgages.

Q: Who typically prepares the Owner's Statement?A: The Owner's Statement is typically prepared by the owner's attorney or the title company.

Q: What information is included in the Owner's Statement?A: The Owner's Statement includes information such as the current owner's name, address, contact information, and details about any liens, mortgages, or legal claims on the property.

Q: When is the Owner's Statement required?A: The Owner's Statement is typically required during a real estate transaction, such as when buying or selling a property, to provide proof of ownership and important information about the property's title.

Q: Can the information in the Owner's Statement change over time?A: Yes, the information in the Owner's Statement can change over time, especially if there are changes in the property's ownership or legal status.

Q: Can the Owner's Statement be used as legal proof of ownership?A: While the Owner's Statement provides important information, it is not considered legal proof of ownership. It is usually used as a supporting document in conjunction with other legal documents.

Q: Who should review the Owner's Statement?A: The Owner's Statement should be reviewed by the buyer, their attorney, or the title company to ensure that there are no issues or discrepancies with the property's ownership and title.

Q: Are there any fees associated with the Owner's Statement?A: There may be fees associated with preparing the Owner's Statement, such as attorney fees or fees charged by the title company. These fees can vary depending on the complexity of the transaction and the services provided.

Q: Is the Owner's Statement required in all real estate transactions in New York?A: While the Owner's Statement is commonly required in real estate transactions in New York, it may not be required in all cases. It is recommended to consult with a real estate attorney or title company to determine if an Owner's Statement is necessary for your specific transaction.