Otsego County Quitclaim Deed (Partnership or Limited Partnership Grantor) Form

Partnership title sits in a name no single person owns, and Partnership Law Section 12(3) keeps it there: an estate in real property may be acquired in the partnership name, and title so acquired can be conveyed only in the partnership name. The grantor line carries the firm; the signature line carries one partner acting for it. This form prepares a New York quitclaim deed, often typed as a quit claim deed, for a general partnership, a limited partnership, or a registered limited liability partnership.

The record name, the signing partner, and a recovery clause

Partnership Law Section 21 reads as a set of cases, one per way partnership real estate can appear in the record. Under the first, where title stands in the partnership name, any partner may convey that title by a conveyance executed in the partnership name. Where title stands in some partners' names instead, or in a third person in trust for the firm, later subdivisions govern, and a deed signed in the firm name may pass only the partnership's equitable interest.

That subdivision does not stop at permission. The partnership may recover the property unless the signing partner's act bound the firm under Section 20(1), or unless the property has reached a holder for value without knowledge that the partner exceeded it. Section 20(1) is the binding rule: a partner's execution of an instrument in the firm name, for apparently carrying on the partnership business in the usual way, binds the firm unless the partner in fact lacked authority and the person dealt with knew it. The deed collects what the signer relies on: an agreement article, a partners' consent, or that statutory agency. On a limited partnership deed the same rules arrive through Section 121-403(a), which gives a general partner a partner's powers.

A certificate whose definitions name both partnership forms

New York's uniform acknowledgment fits an entity signature in its own text: the closing clause of the Real Property Law Section 309-a form reaches a signature made for another, the individual, or the person upon behalf of which the individual acted, executed the instrument. Subdivision 4 defines person for that section, naming both forms outright, a general partnership including a registered or foreign limited liability partnership, and a limited partnership. One signer means one certificate, closing with the notary data Executive Law Section 137 requires.

The partnership configuration

The form recites exactly one grantor, a partnership, and exactly one partner signing in the firm name. Its first section takes the partnership name as the record title spells it, the type of partnership, the organizing jurisdiction, and the principal office; the second takes the signing partner, that partner's capacity, and the authority relied on. Conveyances presenting this configuration include a limited partnership distributing a parcel to a partner as the firm winds up, and a general partnership releasing a boundary remnant to a neighbor. A sole owner signing personally, two record owners, spouses executing together, a corporation acting through an officer, and a fiduciary each recite different signature sections.

A release, with two clauses printed beside it

The conveyance carries the words of the Section 258 statutory short form, remise, release and quitclaim, and Section 251 leaves them without company, since a covenant is not implied in a New York conveyance. The grantee takes the firm's interest as the record leaves it. The Lien Law Section 13(5) trust fund covenant is printed too, keeping a conveyance recorded during a building improvement ahead of later mechanics liens.

What goes to the recording office

The finished deed goes where that county's land records are kept, the county clerk outside New York City and the City Register through ACRIS in four boroughs, and Section 291 rewards whichever conveyance reaches the record first. Two returns are prepared separately: the TP-584 transfer tax return, due whether or not tax is payable, and the RP-5217 transfer report, a condition of acceptance under Real Property Law Section 333. Tax Law Section 1404 presumes a conveyance taxable, which makes the consideration entry worth care on a release moved for nominal money.

Three items make up the download: the blank partnership quitclaim deed as a fillable PDF, a completed example prepared for a Rensselaer County distribution by a limited partnership, and a plain language guide covering the twelve numbered sections, the certificate, and the companion filings. The materials are informational and are not legal advice. What a partnership agreement authorizes on a given title is a question for a New York attorney.