The Deed

Question 1

Deed

Answer 1

A deed is the transfer of property from one person to another and is subject to SoF. Once passed at settlement, everything that was in the real estate contract is completed and the deed will be the controlling instrument.

Question 2

4 Elements of Deed

Answer 2

1. Identification of the Parties
   a. Needs the names of the parties and the legal description.
   *Majority Rule: Name of the grantee is not required if there is a written authorization by grantor to leave that name blank!
   Ex. Authorization clause: tells who the grantee may but as the name
2. Specific Legal Description of the Land
   a. (Ex. Parcel #1 begins at x road, traveling x feet north)
3. Proper Words of Conveyance
   a. Sell, buy, “I grant”, “I give”, “I sell”
4. Signature of the Grantor or his agent

5.RECOMENDED: Purchase Price
a. Does NOT need to be the exact value. Even a valuable consideration of $1 enough

Question 3

2 Types of Ambiguity in Deeds:

Answer 3

1. Latent Ambiguity : You see it when you attempt to comply
2. Patent Ambiguity: An ambiguity that shows up in the document or instrument

With an Ambiguous deed:
1. Look at the Express language/ intent at the parties

2. Can’t determine intent? Look at any extrinsic evidence. (Testimony from other people)
3. Can’t determine through extrinsic evidence?: Look to the Established Rules of Construction:

a. All doubts should be resolved in the favor of the grantee
b. When 2 clauses in a deed conflict, the granting clause is ALWAYS the winner
c. Outcome determinative: Court decides what holding it wants and works backwards to see if there is a legal way to get there.

Question 4

Recording

Answer 4

1. Once ownership of the land changes, the new deed should be recorded to come up during the title search
2. Constructive notice: buyer was supposed to be able to find these kinds of interest.

Question 5

Transferring of Multiple Interest through a deed

Answer 5

Depends on the jurisdiction:

1. Majority: One deed is sufficient to transfer multiple interest.
2. Minority Rule/ Common Law: Multiple deeds are required if there is more than one interest.

Question 6

3 elements for a party to subscribe to the document.

Answer 6

1. There must be the signature both parties ( if there is anything else on the other pages after the signature, it is not VALID.)
2. There must be Attestation/ witnesses
   a. Each state has a statute that says how many witnesses should sign (Usually the answer is 2).
3. There must be Acknowledgement: Notary by a person giving a seal to the document (Must be different from the parties)

Question 7

Execution/ delivery of the Deed

Answer 7

1. Property is NOT transferred until the deed is delivered. Then that person SHOULD go to record it
2. Mailbox Rule: delivery will be effective as soon as it is put in the mail.