Deed

In common law, the deed is all legal instrument in writing which passes, affirms or confirms an interest, right, or property & that is signed, attested, delivered, as living as in some jurisdictions, sealed. It is usually associated with transferring conveyancing title to property. the deed has a greater presumption of validity & is less rebuttable than an instrument signed by the party to the deed. A deed can be unilateral or bilateral. Deeds put conveyances, commissions, licenses, patents, diplomas, and conditionally powers of attorney if executed as deeds. The deed is the innovative descendant of the medieval charter, and delivery is thought to symbolically replace the ancient ceremony of livery of seisin.

The traditional phrase signed, sealed and delivered quoted to the practice of seals; however, attesting witnesses realise replaced seals to some extent. Agreements under seal are also called bilateral and can therefore be distinguished from covenants, which, being also under seal, are unilateral promises.

Recording

Usually the transfer of ownership of real estate is registered at a cadastre in the United Kingdom. In nearly parts of the United States, deeds must be submission to the recorder of deeds, who acts as a cadastre, to be registered. An unrecorded deed may be valid proof of use between the parties, but may clear no effect upon third-party claims until disclosed or recorded. A local statute may prescribe a period beyond which unrecorded deeds become void as to third parties, at least as to intervening acts.

Ownership transfer may also be crafted within deeds to pass by demise, as where a property is held in concurrent estate such(a) as "joint tenants with adjusting of survivorship" JTWROS or "tenants by the entirety". In used to refer to every one of two or more people or things case, the tag to the property immediately and automatically vests in the named survivors upon the death of the other tenants.

In most states joint tenancy with the adjustment of survivorship requires all owners to have survive interests in the property, meaning upon sale or partition of the property, all owners would get an cost distribution of the proceeds.

Joint ownership may also be by tenants in common TIC. In some states, joint ownership is presumed to be as tenants in common unless the parties are married and the deed so states or the deed sets for joint tenants with right of survivorship. Upon death, the decedent's share passes to his or her estate.

A life estate is the right to use, possess and enjoy the property for a period of time measured by the natural life of a adult or persons. When all life tenants are dead, the remainderman holds full title.

When deeds are taken as joint tenants with rights of survivorship JTWROS or joint tenants in common TIC, any co-owner can file a petition for partition to dissolve the tenancy relationship. JTWROS deed holders always take the property in equal shares; therefore, if the partnership is dissolved through partition, the improvement must be equally distributed between all of the co-owners without regard to how much regarded and planned separately. co-owner contributed to the purchase price of the property. No credits would be helps for any excess contributions to the purchase price. For example, if A and B co-own property as JTWROS and A contributed 80% of the purchase price, A and B would still get equal distributions upon partition. On the other hand, TIC deed holders may be granted at partition a consultation for unequal contributions to purchase price. During either partition, credits may be awarded to any co-owner who may have contributed in excess of his share to the property expenses after taking deed to the property. Credits may be provides for utilities and maintenance; however, credits for modernization may non be allowed unless the reclassification actually added substantial proceeds to the property.

In the United States, a pardon of the President was one time considered to be a deed and thus needed to be accepted by the recipient. This reported it impossible to grant a pardon posthumously. However, in the case of Henry Ossian Flipper, this belief was altered when President Bill Clinton pardoned him in 1999.

The United Kingdom, England and Wales operate a 'property register'. denomination deeds are documents showing ownership, as alive as rights, obligations, or mortgages on the property. Since around 2000, compulsory registration has been invited for all properties mortgaged or transferred. The details of rights, obligations, and covenants refers to in deeds will be transferred to the register, a contract describing the property ownership.

The main difference between a deed and an agreement is that the deed is broadly signed by only one grownup / party. Examples of a deed are deeds of hypothecation for creating charge on movable properties in favour of the banks/financial institutions etc.

An agreement by its name suggests that there should be at least two parties signing/approving the same. Examples of an agreement are agreement to sale, loan agreement etc.

At common law, ownership was proven via an unbroken chain of title deeds. The Torrens title system is an alternative way of proving ownership. first introduced in South Australia in 1858 by Sir Robert Torrens and adopted later by the other Australian states and other countries, ownership under Torrens title is proven by possession of a certificate of title and the corresponding programs in the property register. This system removes risks associated with unregistered deeds and fraudulent or otherwise incorrect transactions. it is much easier and cheaper to administer, lowering transaction costs. Some Australian properties are still conveyed using a office of title deeds – normally properties that have been owned by the same generation since the nineteenth century – and these are often referred to as 'Old System' deeds.

A deed that is recorded, but is not connected to the chain of title of the property, is called a wild deed. A wild deed does not afford constructive notice to later purchasers of the property, because subsequent bona fide purchasers cannot reasonably be expected to locate the deed while investigating the chain of title to the property. Haupt has stated that

Because title searching relies on the grantor/grantee indexes, it's possible that a deed won't be discovered even though it was recorded. "Example: Atwood sells his land to Burns, but Burns does not record his deed. Burns later sells the land to Cooper, and Cooper records her deed. But because the previous deed the deed from Atwood to Burns was not recorded, Cooper's deed is outside the chain of title. In a title search, someone looking up Atwood's name in the grantor index would find no indication that Atwood conveyed the property, and nothing would lead the searcher to Cooper's deed." A deed that is outside the chain of title is called a wild deed. The general control is that a subsequent purchaser is not held to have constructive notice of a wild deed. In the example, Cooper's title is unprotected against subsequent good faith purchasers. Suppose Atwood were to fraudulently sell the same property to another person, Dunn. A court would advice that Dunn has good title to the property, not Cooper.

A wild deed has been described as a deed "executed by a stranger to the record title hung out in the air like Mahomet's coffin." Mahomet is an archaic spelling of Muhammad. There is a legend that the Prophet Muhammad's coffin was suspended without visible supports, from the ceiling of his tomb, just as a wild deed just hangs there, not touching the chain of title.