In law, deed is written instrument that transfers an interest in real estate. The term deed was applied to other solemn written instruments, including trust indentures, contracts, and bills of sale. Modern deed always consists of some distinct parts. It opens with the identification and description of the grantor, that is, disposing of the interest, and the grantee. And then the deed recites that the grantee gave money, an equivalent, or other valuable consideration to the grantor to execute the deed.
In which the interest of the property is being transferred is then described by reference to a tax map, a former deed, surveyor's marks, street lines, and to another ascertainable points. After the habendum clause, in which specifies the estate being created, the grantor signs on their name.
Lastly a notary public that have the right to take oaths certifies on the deed that the grantor came before them and acknowledged being the party who executed it. When the deed is filed and indexed in the appropriate public office, everybody are deemed to be on notice of the existence of the interest that the deed effects.
Friday, June 6, 2008
Deed
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