A document used in the transfer of property is known as a deed. In the case of transferring properties such as houses, buildings, and land, it is known as a real estate deed. When a seller signs the document, it is proof that the seller is ready to transfer the property to the seller. Before the transaction is closed, the deed ought to be executed.
Usually, the seller or his or her broker will hire a lawyer to prepare the deed to ensure all requirements in the creation of deed are met before the seller conveys the title to the property. You should note that the deed ought to be in writing and contain legal details of the property in question. Therefore, it should contain evidence of consideration and a granting clause. This includes wording that is a demonstration of the seller’s intent of transferring the title to a buyer. Remember that the consideration is the buying price or any amount given by the potential buyer.
Acceptance and Delivery
You should note that the deed ought to be signed by a seller and notarized. In some areas, witnesses may be required to sign it. However, the buyer is not supposed to sign it. The lawyer will deliver the real estate deed to the potential who must accept it.
You should note that before a title is transferred to the buyer, the attorney will carry out a title search to find out if the title to the …