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Required Features of a DeedThe deed must state on its face that it is a deed.The deed must stipulate that it is conveying or awarding some kind of special rights or privileges to someone.The deed must be executed by the grantor in solemn form.A seal must be affixed to the deed.More items...
Essential Deed ElementsThey must be in writing.The grantor must have the legal capacity to transfer the property and the grantee must be capable of receiving the grant of the property.The grantor and grantee must be identified in such a way as to be ascertainable.The property must be adequately described.More items...
The basic requirements of a valid deed are (1) written instrument, (2) competent grantor, (3) identity of the grantee, (4) words of conveyance, (5) adequate description of the land, (6) consideration, (7) signature of grantor, (8) witnesses, and (9) delivery of the completed deed to the grantee. 8.
A deed is said to be an instrument of conveyance.
As an instrument of conveyance, a deed is used to convey title to a property from one person or entity to another.
What is a Deed of Conveyance: A deed of conveyance is a written instrument through which title in a property is passed on from the owner of the property to the buyer, to a lessee etc. Basic Terms of a Lease: VENDOR: this is the owner of the land that intends to sell or selling his land to another.
Conveyance is the act of transferring property from one party to another. The term is commonly used in real estate transactions when buyers and sellers transfer ownership of land, building, or home. A conveyance is done using an instrument of conveyancea legal document such as a contract, lease, title, or deed.
-The purchaser's or grantee's present address is required in Illinois as an element of a valid deed. -if no specific form of ownership is selected, tenancy in common is assumed in Illinois. -When a deed conveys real estate as a gift to a relative, "love and affection" may be sufficient consideration.
An acknowledgment technically is not required for a deed to be valid; however, in most states, a deed without an acknowledgment cannot be recorded in the official public records. It is usually not necessary to record a deed for the transfer of title to be valid.
Additionally, because Illinois is a "race-notice" state, the first grantee without notice to record a deed to property will be protected against the interests of other grantees with unrecorded deeds to the same property.