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The key legal requirements for a document to be a formal deed are: The document must be in writing. The document must make clear that it is intended to be a deed ? known as the face value requirement. Standard wording in the document will usually achieve this.

A deed may be divided into three component parts: the premises; the habendum; and, the testimonium. The premises include the date, parties, consideration, granting clause, description, recital, and appurtenances.

Conclusion. Having a will is sufficient if the owner wants to have control over their asset during their lifetime. It can avoid conflicts in the family. If the owner wants to assist someone and help them with urgency, then the gift deed is a good idea.

The donor and donee should sign on all pages of the gift deed and must be attested by at least two witnesses. The donee must accept the gift in the lifetime of the donor and when the donor is of sound mind for it to be valid. The value of the stamp paper on which the gift deed is executed varies from state to state.

For real estate buyers, a general warranty deed provides greater protection than any other type of deed. While it's the best deed for the grantee, it gives the grantor the most liability.

It must be in writing, State the name of the current owner, Include the legal description for the real estate being transferred, and. State the name of the new owner.

A sale deed includes the following details: Name and address of the buyer and seller. Detailed description of the property. Total payment to be made, mode of payment, date when the payment is to be made. Date of handing over of property documents. Other terms and conditions of the sale.