CHAPTER 13 CONVEYING FREEHOLD ESTATES BY DEED

ELEMENTS OF A DEED

1. Grantor has legal capacity to execute the deed, 2. Date, 3. Grantee named with reasonable certainty to be identified, 4. Statement of consideration, 5. Granting clause, 6. Habendum clause, 7. Accurate legal description, 8. Relevant exceptions or reservations, 9. Signature of the grantor (notarized), 10. Delivery of the deed and acceptance by the grantee to pass title

GIFT DEED

A deed for which the only consideration is "love and affection"

QUITCLAIM DEED

A deed to relinquish any interest in property which the grantor may have, without any warranty of title or interest.

ACKNOWLEDGMENT

Act of executing a legal instrument such as a deed, mortgage or discharge before a lawyer or other officer of state such as a notary public; this act declares signing to be free and voluntary this is necessary before recording at registry

GENERAL WARRANT DEED

Includes 1) seisin, 2) right to convey, 3) against encumbrances, 4) quiet enjoyment, 5) warranty, and 6) further assurances

DEED OF CONVEYANCE

Legal form to be made In order to transfer the titles of the land and common areas in favor of the Condominium Corporation:

CONSTRUCTIVE NOTICE

Recording documents (public record) and also physical possession serve as constructive notice "to the world" of the individual's rights or interest. The information is there for interested parties to learn by inspecting public records and the property itself. Constructive notice is what you could have learned. Actual notice is what you have learned.

HABENDUM CLAUSE

That part of a deed beginning with the words, "To have and to hold", followed by the granting clause and reaffirming the extent of ownership that the grantor is transferring. The habendum clause defines or limits the extent of ownership in the estate granted as, for example, a fee simple, life estata or easement: "To have and to hold unto said Sally Smith, grantee, a life estate in the following property".

TAX DEED

The deed given to a purchaser at a public sale of land held for nonpayment of taxes. It conveys to the purchaser only such title as the defaulting taxpayer had.

GRANTEE

n. The person to whom property is transferred by deed.

BARGAIN AND SALE DEED

no warranties. grantor has full title to the property is implied. gives no protection to grantee, used in foreclosures and tax sales.

GRANTOR

the individual who conveys the ownership rights of real property