Copy of Deed
The deed is also known as a land contract or installment land contract. In a contract for deed, the seller, rather than a lending institution, finances the buyer’s purchase of the property.
A property deed is a written and signed legal instrument that is used to transfer ownership of real property from the old owner (the grantor) to the new owner (the grantee).
Deeds can be classified in numerous ways. Broadly, deeds are classified as official or private. Official deeds are executed pursuant to court or legal proceedings. Most property transactions, however, involve individuals and business entities using private deeds.
Property deeds are used to convey real property from a grantor (seller) to a grantee (buyer). For a deed to be legally operative, it must include the identification of the grantor and
While each state has its own requirements, most deeds must contain several essential elements to be legally valid
- • It must be in writing. While most deeds are completed on printed forms, there is no legal requirement that any specific form
beused as long as the essential elements are included.
- • The grantor must have
legalcapacity to transfer the property and the grantee must be capable of receiving the grant of the property. A person who is competent to make a valid contract is considered competent to be a grantor.
- • The grantor and grantee must be identified in such a way as to be ascertainable.
- • The property must be adequately described
- • Operative words of conveyance must be present. All standard form deeds include the necessary legal language that actually transfers the property.