A deed is a signed and usually sealed legal instrument Legal instrument is a legal term of art that is used for any formally executed writing that can be formally attributed to its author, records and formally expresses a legally enforceable act, process, or contractual duty, obligation, or right, and therefore evidences that act, process, or agreement. Examples include a certificate, deed, bond, in writing used to grant a right Rights are legal, social, or ethical principles of freedom or entitlement — i.e. rights are normative rules about what is allowed of people or owed to people, according to some legal system, social convention, or ethical theory. The concept of rights is often fundamental to civilized societies, and it is of vital importance in such disciplines. Deeds have historically been part of the broader category of instruments under seal, requiring only the affixing of a common seal to render them valid. Today, however, deeds are instruments in solemn form which require the author's signature and a number of attesting witnesses. Deeds are also referred to as agreements under seal, contracts by deed, or specialties. A specialty is a contract under seal (bond, legal mortgage, debt secured by writing under seal) and formerly ranked in priority above a simple contract in the administration of a decedent's estate for paying off liabilities, especially since specialties have a 12 year limitation period, twice that of a simple contract.[1] They are often used by lawyers when a very formal document is required.[2]

Deeds can be described as contract-like as they require the mutual agreement of more than one person. Deeds can therefore be distinguished from covenants, which, being also under seal, are unilateral promises. However, a deed differs from a simple contract in that it is enforceable without consideration Consideration is the legal concept of value in connection with contracts. It is anything of value in the common sense, promised to another when making a contract. It can take the form of money, physical objects, services, promised actions, abstinence from a future action and much more. Under the notion of "pre-existing duties," if either, has a liability limitation period of double that of a contract, and allows for a third party beneficiary to enforce an undertaking in the deed, thereby overcoming the doctrine of privity Privity is the legal term for a close, mutual, or successive relationship to the same right of property or the power to enforce a promise or warranty. It is a well-established component of the federal law of res judicata, and an important concept in contract law. A privy is bound with respect to all the issues that were raised or could have been.[3] In its narrowest sense, a deed is any formal document that confirms or transfers interest or right of ownership (title Title is a legal term for a bundle of rights in a piece of property in which a party may own either a legal interest or an equitable interest. The rights in the bundle may be separated and held by different parties. It may also refer to a formal document that serves as evidence of ownership. Conveyance of the document may be required in order to) to an asset from one person to another, often using a description of its metes and bounds Metes and bounds is a system or method of describing land, real property or real estate. The system has been used in England for many centuries, and is still used there in the definition of general boundaries. By custom, it was applied in the original Thirteen Colonies that became the United States, and in many other land jurisdictions based on, e.g., conveyances, transfers, mortgages, charges, or leases A lease is a contract calling for the lessee to pay the lessor (owner) for use of an asset. A rental agreement is a lease in which the asset is tangible property. Leases for intangible property could include use of a computer program (similar to a license, but with different provisions), or use of a radio frequency (such as a contract with a cell-; these are known as deeds of title (title-deeds). However, by the general definition, powers of attorney A power of attorney or letter of attorney in common law systems or mandate in civil law systems is an authorization to act on someone else's behalf in a legal or business matter. The person authorizing the other to act is the principal, granter or donor (of the power), and the one authorized to act is the agent, the attorney-in-fact, or in many, commissions, patents A patent is a set of exclusive rights granted by a state (national government) to an inventor or their assignee for a limited period of time in exchange for a public disclosure of an invention, and even diplomas A diploma is a certificate or deed issued by an educational institution, such as a university, that testifies that the recipient has successfully completed a particular course of study, or confers an academic degree. In countries such as the United Kingdom and Australia, the word diploma refers to a level of academic award. The words diplomat and conferring academic degrees A degree is any of a wide range of status levels conferred by institutions of higher education. Such as with other professions, teaching in universities is only carried out by people who are properly qualified. In the same way that a carpenter would pass through the grades of apprentice and journeyman to attain the status of master carpenter when are also deeds.

Traditionally and under common law Common law is law developed by judges through decisions of courts and similar tribunals , rather than through legislative statutes or executive branch action. A "common law system" is a legal system that gives great precedential weight to common law, on the principle that it is unfair to treat similar facts differently on different, to be valid and enforceable, a deed must fulfill several requirements:

Conditions attached to the acceptance of a deed are known as covenants. A deed indented or indenture is one executed in two or more parts according to the number of parties, which were formerly separated by cutting in a curved or indented line known as the chirograph.[5] A deed poll A deed poll is a legal document binding only to a single person or several persons acting jointly to express an active intention. It is, strictly speaking, not a contract because it binds only one party and expresses an intention instead of a promise is one executed in one part, by one party, having the edge polled or cut even, and includes simple grants and appointments.

Contents

Deed types

General and special warranty

Main article Warranty deed A general warranty deed is a type of deed where the grantor guarantees that he or she holds clear title to a piece of real estate and has a right to sell it to the grantee (buyer). The guarantee is not limited to the time the grantor owned the property—it extends back to the property's origins. A General Warranty Deed includes six traditional

The original 1636 Indian deed creating the State of Rhode Island The State of Rhode Island and Providence Plantations, more commonly referred to as Rhode Island ( /ˌroʊd ˈaɪlɨnd/ or /rɵˈdaɪlɨnd/), is a state in the New England region of the United States. It is the smallest U.S. state by area. Rhode Island borders Connecticut to the west and Massachusetts to the north and east, and it shares a water signed by Native American Chief Canonicus to Roger Williams Roger Williams was an English theologian, a notable proponent of religious toleration and the separation of church and state and an advocate for fair dealings with Native Americans. In 1644, he received a charter creating the colony of Rhode Island and Providence Plantations, named for the principal island in Narragansett Bay and the Providence

In the transfer of real estate, a deed conveys ownership from the old owner (the grantor) to the new owner (the grantee), and can include various warranties In commercial and consumer transactions, a warranty is a collateral assurance or guarantee that certain facets of an article or service sold is as factually stated or legally implied by the seller, and that often provides for a specific remedy such as repair or replacement in the event the article or service fails to meet the warranty. A breach of. The precise name of these warranties differ by jurisdiction. However the basic difference between them is the degree to which the grantor warrants the title. The grantor may give a general warranty of title against any claims, or the warranty may be limited only to claims which occurred after the grantor obtained the real estate. The latter type of deed is usually known as a special warranty deed A general warranty deed is a type of deed where the grantor guarantees that he or she holds clear title to a piece of real estate and has a right to sell it to the grantee (buyer). The guarantee is not limited to the time the grantor owned the property—it extends back to the property's origins. A General Warranty Deed includes six traditional. While a general warranty deed was normally used for residential real estate sales and transfers, special warranty deeds are becoming more common and are more commonly used in commercial transactions.

Bargain and sale deed

Main article Bargain and sale deed A bargain and sale deed is in United States real property law, a deed "conveying real property without covenants"

A third type of deed, known as a bargain and sale deed, implies that the grantor has the right to convey title but makes no warranties against encumbrances. This type of deed is most commonly used by court officials or fiduciaries A fiduciary duty is a legal or ethical relationship of confidence or trust regarding the management of money or property between two or more parties, most commonly a fiduciary and a principal. One party, for example a corporate trust company or the trust department of a bank, holds a fiduciary relation or acts in a fiduciary capacity to another, that hold the property by force of law rather than title, such as properties seized for unpaid taxes and sold at sheriff's sale A public auction is an auction held on behalf of a government in which the property to be auctioned is either property owned by the government, or property which is sold under the authority of a court of law or a government agency with similar authority, or an executor Executor is also a legal term referring to a person named by a maker of a will, or nominated by the testator, to carry out the directions of the will. Typically, the executor is the person responsible for offering the will for probate, although it is not absolutely required that he or she do so. The executor's duties also include the disbursement.

Quitclaim deed

Main article Quitclaim deed A quitclaim deed is a term used to describe a document by which a person disclaims any interest the grantor may have in a piece of real property and passes that claim to another person (the grantee). A quitclaim deed neither warrants nor professes that the grantor's claim is valid. By contrast, the deeds normally used for real estate sales (called

A so-called quitclaim deed A quitclaim deed is a term used to describe a document by which a person disclaims any interest the grantor may have in a piece of real property and passes that claim to another person (the grantee). A quitclaim deed neither warrants nor professes that the grantor's claim is valid. By contrast, the deeds normally used for real estate sales (called is (in most states) actually not a deed at all—it is actually an estoppel This term appears to come from the Old French estoupail , which meant "stopper plug", referring to placing a halt on the imbalance of the situation. The term is related to the verb "estop" which comes from the Old French term estopper, meaning "stop up, impede" disclaiming rights of the person signing it to property.

Deed of trust

In some jurisdictions, a deed of trust In common law legal systems, a trust is a relationship whereby property is managed by one person (or persons, or organizations) for the benefit of another. A trust is created by a settlor (or feoffor to uses), who entrusts some or all of their property to people of their choice (the trustees or feoffee to uses). The trustees hold legal title to is used as an alternative to a mortgage. A trust deed is not used to transfer property directly. It is commonly used in some states, California, for example, to transfer title to land to a “trustee”, usually a trust or title company, which holds the title as security ("in escrow Escrow generally refers to money held by a third-party on behalf of transacting parties. It is best known in the United States in the context of real estate . Escrow companies are also commonly used in the transfer of high value personal and business property, like websites and businesses, and in the completion of person-to-person remote auctions (") for a loan. When the loan is paid off, title is transferred to the borrower by recording a release of the obligation, and the trustee's contingent ownership is extinguished. Otherwise, upon default, the trustee will liquidate the property with a new deed and offset the lender's loss with the proceeds.

Deeds as alternatives to bankruptcy

Parts

The main clauses of a warranty deed conveyancing land are:

Recording

Main article Recording (real estate) The vast majority of states in the United States employ a system of recording instruments that affect the title of real estate as the exclusive means for publicly documenting land titles and interests. This system differs significantly from land registrations systems, such as the Torrens System that have been adopted in a few states. The principal

Usually the transfer of ownership of real estate is registered at a cadastre A cadastre , using a cadastral survey or cadastral map, is a comprehensive register of the metes-and-bounds real property of a country. A cadastre commonly includes details of the ownership, the tenure, the precise location (some include GPS coordinates), the dimensions (and area), the cultivations if rural, and the value of individual parcels of in the United Kingdom The United Kingdom of Great Britain and Northern Ireland[note 7] is a sovereign state located off the northwestern coast of continental Europe. It is an island country, spanning an archipelago including Great Britain, the northeastern part of the island of Ireland, and many small islands. Northern Ireland is the only part of the UK with a land. In most parts of the United States, deeds must be submitted to the Recorder of deeds Recorder of deeds is a government office tasked with maintaining records and documents, especially records relating to real estate ownership that provide persons other than the owner of a property with real rights over that property, who acts as a cadastre, to be registered. An unrecorded deed may be valid proof of ownership between the parties, but may have no effect upon third-party claims until disclosed or recorded. A local statute may prescribe a period beyond which unrecorded deeds become void as to third-parties, at least as to intervening acts.

Joint ownership

Ownership transfer may also be crafted within deeds to pass by demise, as where a property is held in concurrent estate A concurrent estate or co-tenancy is a concept in property law, particularly derived from the common law of real property, which describes the various ways in which property can be owned by more than one person at a given time. If more than one person own the same property, they are referred to as co-owners, co-tenants or joint tenants. Most such as "joint tenants with right of survivorship" (JTWROS) or "tenants by the entirety". In each case, the title to the property immediately and automatically vests in the named survivor(s) upon the death of the other tenant(s).

In most states joint tenancy with the right of survivorship require all owners to have equal interests in the property, meaning upon sale or partition of the property all owners would receive an equal distribution of the proceeds.

Joint ownership may also be by tenants in common (TIC). In some states, joint ownership is presumed to be as tenants in common unless the parties are married and the deed so states or the deed sets for joint tenants with right of survivorship. Upon death, the decedent's share passes to his or her estate.

A life estate A life estate is a concept used in common law and statutory law to designate the ownership of land for the duration of a person's life. In legal terms it is an estate in real property that ends at death. The owner of a life estate is called a "life tenant" is the right to use, possess and enjoy the property for a period of time measured by the natural life of a person or persons. When all life tenants are dead, the remainderman holds full title.

Joint tenants with rights of survivorship vs. joints tenants in common

When deeds are taken as joint tenants with rights of survivorship (JTWROS) or joint tenants in common (TIC), any co-owner can file a petition for partition to dissolve the tenancy relationship. JTWROS deed holders always take the property in equal shares; therefore, if the partnership is dissolved through partition, the proceeds must be equally distributed between all of the co-owners without regard to how much each co-owner contributed to the purchase price of the property. No credits would be allowed for any excess contributions to the purchase price. For example, if A and B co-own property as JTWROS and A contributed 80% of the purchase price, A and B would still receive equal distributions upon partition. On the other hand, TIC deed holders may be granted at partition a credit for unequal contributions to purchase price. During either partition, credits may be awarded to any co-owner who may have contributed in excess of his share to the property expenses after taking deed to the property. Credits may be allowed for utilities and maintenance; however, credits for improvements may not be allowed unless the improvements actually added substantial value to the property.

Pardon as deed

In the United States ^ b. English is the de facto language of American government and the sole language spoken at home by 80% of Americans age five and older. Spanish is the second most commonly spoken language, a pardon A pardon is the forgiveness of a crime and the penalty associated with it. It is granted by a head of state, such as a monarch or president, or by a competent church authority. Commutation is an associated term, meaning the lessening of the penalty of the crime without forgiving the crime itself. A reprieve is the temporary postponement of of the President The President of the United States is the head of state and head of government of the United States. The president leads the executive branch of the federal government and is one of only two nationally elected federal officers, the other being the Vice President of the United States was once considered to be a deed and thus needed to be accepted by the recipient. This made it impossible to grant a pardon posthumously. However, in the case of Henry Ossian Flipper Henry Ossian Flipper was an American soldier and the first black American cadet to graduate from the United States Military Academy at West Point, this view was altered when President Bill Clinton William Jefferson "Bill" Clinton was the 42nd President of the United States from 1993 to 2001. At 46 he was the third-youngest president. He became president at the end of the Cold War, and was the first baby boomer president. His wife, Hillary Rodham Clinton, is currently the United States Secretary of State. Each received a Juris pardoned him in 1999.

Title deed

In the United Kingdom, England and Wales operate a 'property register'. Title deeds are documents showing ownership, as well as rights, obligations, or mortgages on the property. Since around 2000, compulsory registration has been required for all properties mortgaged or transferred. The details of rights, obligations, and covenants referred to in deeds will be transferred to the register, a contract describing the property ownership.

Difference between Deed and an Agreement

The main difference between Deed and an agreement is that the deed is generally signed by only one person / party. Examples of the Deed can be Deed of Hypothecation for creating charge on movable properties in favour of the banks.

Agreement by it names suggests that there should be two parties signing / approving the same. Examples of the Agreement are Agreement to sale, Loan Agreement etc.

At common law, ownership was proven via an unbroken chain of title deeds. The Torrens title Torrens title is a system of land title where a register of land holdings maintained by the state guarantees an indefeasible title to those included in the register. The system was formulated to combat the problems of uncertainty, complexity and cost associated with old-system title, which depended on proof of an unbroken chain of title back to a system is an alternative way of proving ownership. First introduced in South Australia South Australia is a state of Australia in the southern central part of the country. It covers some of the most arid parts of the continent; with a total land area of 983,482 square kilometres , it is the fourth largest of Australia's six states and two territories in 1858 by Sir Robert Torrens Sir Robert Richard Torrens, GCMG was the third Premier of South Australia and a pioneer and author of simplified system of transferring land and adopted later by the other Australian states and other countries, ownership under Torrens title is proven by possession of a certificate of title and the corresponding entry in the property register. This system removes risks associated with unregistered deeds and fraudulent or otherwise incorrect transactions. It is much easier and cheaper to administer, lowering transaction costs. Some Australian properties are still conveyed using a chain of title deeds - usually properties that have been owned by the same family since the nineteenth century - and these are often referred to as 'Old System' deeds.

Wild deeds

A deed that is recorded, but is not connected to the chain of title of the property, is called a wild deed. A wild deed does not provide constructive notice to later purchasers of the property, because subsequent bona fide purchasers can not reasonably be expected to locate the deed while investigating the chain of title to the property.

See also

Wikimedia Commons has media related to: Deeds
Look up deed in Wiktionary Wiktionary is a multilingual, web-based project to create a free content dictionary, available in over 151 languages. Unlike standard dictionaries, it is written collaboratively by volunteers, dubbed "Wiktionarians", using wiki software, allowing articles to be changed by almost anyone with access to the website, the free dictionary.

References

Constructs such as ibid. Ibid. is the term used to provide an endnote or footnote citation or reference for a source that was cited in the preceding endnote or footnote. It is similar in meaning to idem (meaning something that has been mentioned previously; the same) abbreviated Id., which is commonly used in legal citation and loc. cit. are discouraged by Wikipedia's style guide for footnotes as they are easily broken. Please improve this article by replacing them with named references (), or an abbreviated title.
  1. ^ Charles Mitchell The Law of Subrogation (Oxford: Oxford University Press, 1994), 58.
  2. ^ "Glossary", Business Law Online, ed. Victoria University, s.v. "Deed", retrieved on 13 June 2009: [1]
  3. ^ Andrew Griffiths, Contracting With Companies, (London: Hart Publishing, 2005), 7.
  4. ^ Lectlaw, s.v. "deed", retrieved 19 May 2009. [2].
  5. ^ Frederic Jesup Stimpson, Glossary of Technical Terms, Phrases, and Maxims of the Common Law, s.v. "Deed" (Boston: Little, Brown and Co., 1881), 108.
  6. ^ "Glossary", The Law Handbook Online, retrieved on 11 June 2009
  7. ^ Ibid.
  8. ^ Stewart Rapalje and Robert L. Lawrence, eds., A Dictionary of American and English Law, s.v. "Habendum" (Jersey City, N.J.: F.D. Linn, 1888), 589.
  9. ^ "Scots Land Law Glossary/Dictionary", Scottish Law Online, retrieved on 21 June 2009: [3]

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How do I change a deed without a lawyer?
Q. My father passed away and left his house to me and my sister. He was exempt from paying property taxes because he was a disabled veteran. The problem is that we lost the will and the lawyer who has the will wants $2000 to change the deed. We can't afford that. The tax office said we would not be billed for the property taxes until we change the deed and now the mortgage company wants proof of tax payment. The deeds office would prefer we use the lawyer, but said we could do it ourselves. We just don't know how.
Asked by KathyC - Sun Jul 20 21:50:40 2008 - - 2 Answers - 0 Comments

A. I'd suggest finding another lawyer. A simple deed transfer (especially if it's spelled out in a will) should not cost you $2000. In fact, if I'm not mistaken, the lawyer has a specific obligation to provide you with a copy of the will.
Answered by Bob B - Sun Jul 20 22:01:20 2008

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