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Basic Requirements of a Valid Deed

Basic Requirements Of A Valid Deed

Knowing how to process adequate paperwork is vital to a smooth procession, during the process of property transference. The production and completion of a valid deed will be the difference between a swift transaction and a drawn-out proceeding. In order to ensure the yielding of a proper deed, a number of requirements must be satisfied.

A valid deed, must, first and foremost, be produced in writing. Any other attempt at its production will be unacceptable. Keep in mind that some regions call for more than just a written document, such as its being prepared and presented in a specified language. The grantor executing the deed must be competent. They should obviously be in ownership of the property they are looking to transfer as well as be at least 18 years of age, since a minor would not be an acceptable executor of such a transaction. Failure to meet the age requirement will allow the deed to be voidable, similar to deeds composed by or in the name of mentally impaired individuals.

Be aware also of how you state who exactly the grantor is or who the grantors are. A partnership consists of two individuals and a corporation requires the execution of an actual board of directors, just to name a few examples. Just as you need a grantor, it is just as important to have a grantee who will be acquiring possession of the property. Without them, the deed, is again voidable, and therefore, might as well have not even be drawn up in the eyes of the law. Words of conveyance must also be present somewhere on the deed.

This is to say that it must be expressly stated within the document the intentions of conveyance of property. It is very important that all involved are well aware of the actual property as well. Therefore, a description is required within the deed so that there are no surprises as to its specifications.

Since some type of price must be stated, also known as consideration, it must be present on the deed as well. Such a procedure is a mere formality however, as you can state twenty dollars as an acceptable consideration, for instance. In most cases the only signature required is that of the grantor's. Some states though, reserve exceptions for when grantees will be taken over mortgage payments. In cases like this, they also must sign the deeds.

The final requirement would be that of the adequate witnessing of the deeds as prescribed by your state legislature. Depending on the area you reside in, a witness may be needed in order to either record or actually validate your deed. This witness may be a notary public or other uninvolved individual at the time. The minimum number of persons is usually that of two. Following all of these basic requirements, you should be on the right track to transferring your property.

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