Deed
Deed is a legal document that is signed and delivered, especially one regarding the ownership of property or legal rights. This document contains an agreement or contract that is valid in law. The deed is the modern descendant of the medieval charter, and delivery is thought to symbolically replace the ancient ceremony of livery of seisin.
Types of Deeds[edit | edit source]
There are several types of deeds, including:
- Quitclaim Deed - This type of deed transfers any ownership interest the grantor has in the property, without making any promises about the type of interest being transferred.
- Warranty Deed - This type of deed, often used in real estate sales, includes a full covenant and warranty against all claims of ownership, encumbrances and potential liens.
- Special Warranty Deed - This type of deed, also known as a limited warranty deed, provides two basic warranties: that the grantor received title to the property and that the property was not encumbered during the grantor's period of ownership.
Components of a Deed[edit | edit source]
A deed typically contains the following components:
- Premises - This section of the deed identifies the grantor, the grantee, the consideration, and the legal description of the property.
- Habendum Clause - This clause defines the estate or interest being granted.
- Reddendum Clause - This clause reserves something to the grantor out of what is granted.
- Tenendum Clause - This clause used to specify the tenure by which an estate was held.
- Warranty Clause - This clause stipulates the degree to which the grantor will defend the grantee's title.
See Also[edit | edit source]
References[edit | edit source]
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