Abstract:
This article contemplates not only the definition and meaning of the deed but also the essential contents of the deed. The deed is an essential legal document used for the transfer of ownership of a real property from one person to another. The deed is simple terms can be understood as a legal document that adheres to or bounds the parties who are entering into an agreement. The paper explains all the requirements which are mentioned in the deed. Many time’s there is confusion, between deed and agreement. A deed is a signed legal document that allows its holder specific rights that the person meets a number of conditions. The substantial purpose of the deed is to transfer. This paper explains what is the deed and its essential contents required for the formation of a deed.
KEYWORDS- Deed, legal, document, essential contents, transfer.
INTRODUCTION:
A deed is any written legal document that transfers, affirms, or confirms the interest, rights, property, and so on. A valid deed is which that requires the grantor, the actual owner of the land conveys his interest to the guarantee, the receiver of the title. A deed is a special form of document which indicates an individual’s most sincere promise to do something that he or she has contracted to do so. At common law the requirements for executing a deed are that it must be in writing, sealed, and delivered to the other party. A deed is a written legal document that transfers ownership of a real property from one person to another. There is no consideration required for a deed.
There are various types of deeds for, they are as follows -
- Mortgage deed
- Warranty deed
- Grant deed
- Trust deed
- Court order deeds, and so on.
METHOD:
The method used for this research paper was Doctrinal method of research wherein one rely on text or content available in various journal, magazines, and blogs. This monograph completely excludes the primary source of data viz., questionnaire to individuals. The method opted encompasses around information available in the public and on various websites having the reference of the aforementioned topic.
Definition of Deed:
A deed could be a written paper between parties, it's a special variety of binding promises to try to do one thing. the most demand of a deed is that or not it's supposed by the execution party to be the indication to the community that she or he extremely means that to try to what has been united between the parties.
A deed will be unilateral or bilateral. Deeds embody transfer, commission, licenses, power of attorney person, and so on. The deed encompasses a larger presumption of validity than the other instrument signed by the party to the deed.
There is no consideration needed for a deed. A deed doesn't need thought as a result of the concept that a deed is that the most solemn indication that the parties area unit wrongfully certain. the only purpose of the deed is to transfer a title, a paper to convey possession of the property to somebody else.
Essential contents of deed:
1. Heading- A deed should mention the title of the deed. For example- This deed of conveyance.
2. Description of the deed title- The description of the deed title, which starts with the name of the deed and therefore deed must contain the accurate title. These words have to be written in block letters. For example- This Deed of Partnership.
3. Date and place of execution- Date, and place of execution is a very essential component of a deed, and it follows the description of the deed title. Which is relevant for the applicability of the law.
4. Name and Description of the parties- Name of the parties are very essential because it indicates that between whom the execution of the deed is taking place. Description gives overall idea about the parties involved in the execution of the deed.
5. Recitals - Recitals explain the background story of the deed for what purpose the deed is being made. It is the precise story of the property for which the deed is made.
6. Description of the property- A Complete description of the property needs to be provided in the document, presented for registration, as per the Registration Act.
7. Terms and conditions- Terms, and conditions specifically mentions the general rules and the special arrangements rules, requirements and so on.
8. Exceptions and Reservations- It indicates the introduction of specific rights to be held by the transferor over the property to be agreed by the transferee as mentioned in the deed.
9. Undertakings- The agreement under seal, by which the parties involved, promises for the truth of the certain fact regarding the property. For example- It is written in the deed as, The parties aforementioned hereto hereby mutually agree with each other as follows.
10. Signature of the parties and witness- The Signature of the parties and witness is most important while execution of the deed. It indicates that both the parties are adhering to what is mentioned in the deed.
11. Annexure or schedule- A deed is incomplete unless the particulars required by the registration law concerning the land or property are provided in the Schedule to be attached with the deed.
CONCLUSION:
A deed is any written legal document that transfers, affirms, or confirms the interest, rights, property, and so on. A valid deed is which that requires the grantor, the actual owner of the land conveys his interest to the guarantee, the receiver of the title. There are various types of deeds few are mentioned above. The researcher had explained the definition of deed as well as the essential contents of the deed viz., the heading, signature, undertaking, name of the parties, recitals, and so on.
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The researcher here concludes that deed is a legal instrument which is at this time a very essential element with respect to transfer the title of the property to another person, with the help of essential contents of the deed.
References:
- CLAYTON, https://www.claytonutz.com, (last visited Mar 14, 2021)
- INVESTO PEDIA, https://www.investopedia.com, (last visited Mar 15, 2021)
- PROFESSIONAL UTILITIES, https://www.professionalutilities.com, (last visited Mar 14, 2021)
- MONDAQ, https://www.mondaq.com,(last visited Mar 14, 2021)
- BUSINESS JARGON, https://businessjargons.com, (last visited Mar 13, 2021)
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