Deed
A deed is a legal method of transferring real estate title from one person to another. The description used in a deed is called “ metes and bounds.” However deeds are not limited to real property. Powers of attorney, commissions, diplomas, or patents are also deeds. A deed needs to have certain qualifications to be considered valid according to common law.
- A valid deed must indicate that the instrument itself transfers some privilege or thing to someone. The phrase that describes the transfer is usually indicated by the word “hereby” or the phrase “by these presents.”
- The grantor must prove that he or she has the legal right and ability to grant the thing or privilege.
- The grantee or the person receiving the privilege or thing must prove that he or she has the legal capacity to receive it.
- In the past, a seal was required to be affixed to a valid deed. However, many jurisdictions have eliminated this requirement and replace it with the grantor’s signature. However in the case when conveyances are for real estate, most jurisdictions require that a notary public or a civic law notary acknowledge the deed. In some cases, a witness or witnesses may be needed.
- Lastly, a valid deed must be delivered to and accepted by the recipient.
Some deeds may have conditions attached to their acceptance. These conditions are known as covenants. In the United States, a pardon made by the President was considered to be a deed at one time, and the recipient needed to accept it. So it was impossible to grant a pardon after the death of the recipient.
Online Loan Officers
Financial Services |
|
 New York |
Houston |
| Dallas |
Charlotte |
| Reno |
Bethesda |
| Worcester |
Los Angeles |
| San Jose |
Miami |
| High Point |
Chicago |
| San Diego |
Mount Pleasant |
| Birmingham |
Harrisburg |
| Dayton |
Tempe |
| Mesa |
Glendale |
Financial Services Directory (500 US Cities) |
|
HOME Home Loans Real Estate Lawyers Financial Services Loan Tips Articles Terms ContactHome Page | Type Of Loans | Interest Only Loans | Mortgage Loans 101 | Online Mortgage Loan Tips | Training
OnlineLoanOfficers.com, (c) 2007
