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13th century Deed of Gift. A deed of gift is a signed legal document that voluntarily and without recompense transfers ownership of real, personal, or intellectual property – such as a gift of materials – from one person or institution to another. [1] It should include any possible conditions restricting access, use, or preservation of the ...
If the gift is of a type that cannot be delivered in the conventional sense – a house, or a bank account – the delivery can be effected by a constructive delivery, wherein a tangible item allowing access to the gift – a deed or key to the house, a passbook for the bank account – is delivered instead.
However, as a result of the various state recording acts, the courts will protect a bona fide purchaser who pays valuable consideration and does not have knowledge of the prior unrecorded deed from the claims of a prior grantee under that deed. The same is true respecting most types of unrecorded liens or encumbrances.
But a quitclaim deed contains no such warranty, and the grantee is entitled only to whatever interest the grantor actually possesses at the time. [7] Indeed, a quitclaim deed may offer the grantee no warranty at all regarding the status of the property's title (ownership), [ 8 ] and there may be no guarantee that the grantor owns an interest in ...
Created Date: 8/30/2012 4:52:52 PM
A deed is a legal document that is signed and delivered, especially concerning the ownership of property or legal rights. Specifically, in common law, a deed is any legal instrument in writing which passes, affirms or confirms an interest, right, or property and that is signed, attested, delivered, and in some jurisdictions, sealed.