Property Ownership
In New York, a 'habendum clause' in a deed is the clause that:
ADescribes the boundaries of the property conveyed
BDefines the extent of the interest being conveyed and any conditions or limitations on the estate ('to have and to hold')✓ Correct
CContains the grantor's covenants of warranty
DStates the consideration paid for the property
Explanation
The habendum clause (from the Latin 'to have and to hold') in a New York deed defines the type and extent of the estate or interest being conveyed — such as fee simple, life estate, or a tenancy in common interest. It may also set out conditions or limitations on the estate (e.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Tenancy in CommonCo-ownership where two or more people hold undivided interests that need not be equal and pass to each owner's heirs — no right of survivorship.
Life EstateA freehold interest in real property that lasts only for the duration of a specified person's life.
Fee SimpleThe highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.
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