NCh2 Requirements of a Valid Deed Flashcards
The first requirement of a valid deed is G for
Grantor/Grantee
The grantor must be competent
The second requirement of a valid deed is “C” for
Consideration
Legal consideration can be good or valuable. Love and affection is good. Money is valuable.
The third requirement of a valid deed is “W” for
Words of Conceyance
There must be a granting clause, a written statement, indicating the transfer of some interest in real property from one person to another
The fourth requirement of a valid deed is E for
Execution
The grantor must sign the deed
The fifth requirement of a valid deed is D for
Delivery
The title does not pass until the deed is delivered and accepted
The sixth requirement for a valid deed is L for
Legal description of the property