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A real estate contract typically does not convey or transfer ownership of real estate by itself. A different document called a deed is used to convey real estate. In a real estate contract, the type of deed to be used to convey the real estate may be specified, such as a warranty deed or a quitclaim deed. If a deed type is not specifically ...
The entity disposing, conveying, and selling the assets is referred to as the seller or vendor. [3] A PSA sets out the various rights and obligations of both the buyer and seller, and might also require other documents be executed and recorded in the public records, such as an assignment, deed of trust, or farmout agreement. [4]
Creation of the power of attorney must be witnessed, e.g. countersigned by a public notary. Notarial witnessing is mandatory if the power of attorney is made in order to enter into a contract to buy or sell an interest in land, as this has to be done on a public register. [30]
Thus, if Oscar purports to sell a piece of land to Alice for $100,000, and the next day purports to sell exactly the same piece of land to Bob for another $100,000, then whichever of the two buyers is the first to reach the recording office and have the sale recorded will be deemed the owner of the property.
Sample Florida notary stamp. A notary seal of the rubber stamp type is required to be affixed to all notarized paper documents. The rubber stamp must include the commissioned name of the notary public, the words "Notary Public-State of Florida", the notary's commission number, and the date on which the notary's commission expires.
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