Contents of the Deed + Delivery Flashcards
Granting/Premises Clauses
Contents:
name of each party
reason for exchange
statement of consideration
purchase price not typically included
statement of consideration description of land
operative words of conveyance
Habendum Clause
Describes and limits the estate
to have and to hold language
includes a warranties of title
Execution/Conclusion clause
i. Signed, sealed, delivered
ii. Contents:
1. Date, signature, and seal
iii. Concluded by an officer of the state acknowledging the deed and sealing it (notary)
iv. Construed against the drafter as a last resort if elements are in conflict
Estoppel by Deed
if a grantor conveys a title he does not have, and later acquires title, automatically conveyed to the grantee. Buyer has option to get money back and force/enforce sale.
Once a deed is delivered…
all contract terms are assumed in the deed
If it passes to escrow agent
Considered delivered
If passed to grantee upon receipt of purchase price
Delivered
Estoppel by Delivery must have
intent and grantee must accept
Delivery w/o handing over
Can be grantor’s declaration, implied or expressed, that he is bound by his deed
Conditional Delivery
If condition in deed then find
Can only be made by placing deed in hands of third-party escrow if it is an oral condition not in deed