Start my Property Search Sell my property Explore Neighborhoods See All Neighborhoods. A unique neighborhood with divided into three distinct areas. Meet our Agents. As Brooklyn transplants, we decided to become real estate agents in the Staten Island market after we bought our firs… Staten Island Office. Co-ops also have monthly fees Common Charges and Maintenance Fees , which may also include real estate taxes and a portion of the building's underlying mortgage.
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Foreclosures Foreclosures These properties are currently listed for sale. Foreclosed Foreclosed These properties are owned by a bank or a lender who took ownership through foreclosure proceedings.
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Pre-Foreclosures Pre-Foreclosures The lender initiated foreclosure proceedings on these properties because the owner s were in default on their loan obligations. For Rent. Price Price Range Enter a valid number. Enter a valid number. Use exact match. Must have open house. Must have garage. Any 1, 1, 1, 1, 2, 2, 2, 2, 3, 3, 4, 5, 7, — 1, 1, 1, 1, 2, 2, 2, 2, 3, 3, 4, 5, 7, Any.
Has Basement. Single-story only. City Mountain Park Water. Any 1 day 7 days 14 days 30 days 90 days 6 months 12 months 24 months 36 months. The association is typically run like a corporation with complaint and appeal processes to protect individual rights of owners and to provide a mechanism for resolving disputes within the community. In a "co-op", the ownership structure is quite different: you do not own your own specific unit in the building but own stock in the corporation that actually owns the building and all the apartments.
As a shareholder, you have a say in electing the Board of Directors who manage the cooperative. When you purchase real property, you receive a written document called "the deed" which transfers the ownership of the property from the buyer to you as the purchaser.
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The deed gives you formal title in exchange usually for a specified amount of money. The transfer of interest in real property is not complete until the deed is delivered to you. The deed should be recorded immediately with the county clerk in the county where the property is located. By recording the deed, you give notice to all future potential buyers of that property that you now have an ownership interest in that particular piece of real property.
Recording also tracks the chronological chain of ownership from a series of buyers and sellers. Title insurance typically performs this function to determine whether any defects occurred in prior conveyances and transfers.
If so, such defects may then be pointed out and excluded from their coverage. Mortgage interest deduction: The major advantage to owning real property comes from the deductibility of the interest of a home mortgage or a home equity loan. In order to qualify for an income tax deduction, the loan must be for your home or a vacation home that is not rented to others. The deduction must be taken as an itemized deduction in Schedule A of your federal tax return.
Property tax deduction: real estate taxes paid to any state or local governments are also deductible on your federal return. Generally, the taxes must be based on the assessed value of the real property and must be charged uniformly against all property under the jurisdiction of the taxing authority. In order to qualify, you must meet certain requirements: among other things, you must have lived in that home for at least two of the five years prior to the sale, and not have excluded gain from the sale of another home two years prior to the sale.
A quitclaim deed transfers or "releases" to the person acquiring the property whatever present interest the grantor has in that property. Unlike a grant deed, a quitclaim deed carries with it no express or implied covenants or guarantees. Therefore, if the grantor has no interest in the property, a quitclaim deed conveys nothing.
Q: Since my spouse passed away, I want to re-title my house so I own it jointly with my adult children. While sharing title to property may avoid probate after your death, naming "joint tenants" may have a number of adverse consequences. In effect, adding a joint tenant to your home deed means that you have now gifted a portion of that property to those named.