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Effective dates are the times when parties to a contract begin their obligations to perform under the contract. An effective date can be a date in the past (backdating) or in the future.

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.

Testatum is often referred to as the ?Witnessing Clause?. It refers to the introductory recitals of any Agreement. Sometimes it also specifies the consideration for the said transaction, however it is not really recommended. Placement: It is placed after the Recitals and before the Operative part of the Deed commences.

COMPONENTS OF DEEDS An ordinary deed of transfer may conveniently be divided into the following parts :Description of the deed; Date; Parties; Recitals; Testaturn; Consideration; Receipt; Operative words; Parcels; Exception and?R-eservations (if any); Habendum; Covenants (if any); Testimonium.

Deed title. Place & date of execution. Description of parties. Recitals. Testatum. Consideration. Receipt clause. Operative clause.

Date of this Deed means the date this deed is signed by all the Parties.

The effective date is the date on which a statute, contract, or other such legally binding instrument takes effect or becomes operative and enforceable. This date may or may not be the same date as the signing date or the date on which the agreement was executed.

There are four commonly seen deed categories: Quit Claim, Warranty, Special Warranty, and In Trust Deeds. When buying or selling real estate, it is important to understand the differences in each type of deed.