Deed Flashcards
What is a deed?
A deed is a document in writing which is signed, sealed, and delivered by the parties to be bound.
What are the two types of deeds?
A deed poll (executed by one party) and deed indenture (executed by two or more parties).
What are the essential elements of a deed?
The elements are: It must be in writing, signed, sealed, delivered, attested, and franked.
Is a deed valid without a date?
Yes, a deed is valid even if it has no date or has a false or impossible date.
What does the introductory part of a deed of assignment consist of?
The introductory part consists of the Commencement, Date, Parties, and Recital.
How does a deed typically commence?
A deed usually commences as ‘THIS DEED OF LEASE’, ‘THIS DEED OF MORTGAGE’, or ‘THIS DEED OF ASSIGNMENT’.
What is the importance of recitals in a deed?
Recitals help interpret deeds, create estoppel, and are presumed to be sufficient evidence of the truth of the facts stated.
What clauses are included in the operative part of a deed?
The operative part includes Testatum, Consideration, Receipt Clause, Capacity, Words of Grant, Parcel Clause, and Habendum.
What is the Testatum clause?
The Testatum clause introduces the operative part of a deed and commences with: ‘NOW THIS DEED WITNESSES AS FOLLOWS’.
What is the purpose of the Consideration Clause?
It shows the amount for which the assignor is giving the property to the assignee, indicating that the transaction is not a gift.
What is the Receipt Clause?
It discloses that the vendor has collected the money for the property, preventing the necessity of issuing another receipt.
What is the Capacity Clause?
It guarantees the title of the assignor to the property, ideally stating the Assignor as a ‘BENEFICIAL OWNER’.
What does the Parcel Clause describe?
The Parcel Clause provides a proper description of the property to satisfy legal requirements.
What is included in the concluding part of a deed?
The concluding part includes Testimonium, Schedule, Execution clause, and Attestation.
What is the Testimonium clause?
The Testimonium clause states: ‘IN WITNESS OF WHICH THE PARTIES HAVE EXECUTED THIS DEED IN THE MANNER BELOW…’.
What is required for the execution and attestation of a deed?
The signature of the parties and their witnesses is required.
What must be done to perfect a deed?
Obtain the Governor’s Consent, stamp the deed within 30 days, and register it within 60 days.
What happens if a deed is not perfected?
Failure to perfect makes the legal transfer void, results in equitable interest, and may lead to penalties.
What transactions must be by deed?
Transfer of title to land by Assignment, Lease above 3 years, Legal Mortgage, Gift of Land, and Power of Attorney.
What transactions need not be by deed?
Lease below 3 years, Will, Assent, Statutory receipt, Court vesting order, Disclaimer by operation of law.
What particulars are needed to draft a deed?
Particulars of the parties, witnesses, property description, title history, consideration, covenants, capacity, and quantum of interest.
