There are several different property documents or deeds when you are buying or selling properties. The real estate deals are never possible without the presence of legal documents. A legal document can establish you to be the owner of a property. It is equally important if you are transferring the property in some other name. A legal document establishes a lawful owner of a property.
Out of all the legal document conveyance deed or a deed of conveyance is extremely important. This piece of the legal document serves as proof of the transference of a deed from one owner to another and enforces the power of the latter on the said property. This deed avoids the issues that may arise regarding ownership. Conveyance deed is proof that establishes that the owner of an existing property has legally signed over the ownership of the property to another.
The following are the key elements that the conveyance deed should have to make it acceptable and binding in a court of law:
Defining boundaries. The boundary lines of a property should be well-defined in a deed. Accordingly, a land survey must be done to define the exact parameters of the property in the deed. To avoid the line and ownership and trespassing issues in the future, it is extremely important. The ownership rights should be clearly mentioned in the document.
Clear information conveyed – When transferring the property from one person to another, it should carry a clear message and information. No clause or points should be misleading. All the legal rights of the property that needs to be transferred from the owner to the buyer should also be mentioned. If the property has been delivered to the buyer by a grantor, the process should be clearly stated in the deed, including how the grantee has received the property. The deed should also include the terms and conditions that are attached to the transfer formalities.
Signatures – The conveyance deed should be duly signed by all the parties involved in the transfer process to ensure that the document is valid. When the conveyance deed is signed between the current owner and the new owner the former transfers all the legal rights of the owner to the latter. This means that the new owner will have all the legal rights to own, keep or use the particular property the way he would like.
Seal – In order to qualify the conveyance deed as legally valid, the grantor must sign the deed in front of a notary and the notary should then seal the document. The written document should be enforced in the court in a proper format, carrying the names of the seller or owner and the buyer.
Registration – Each conveyance deed should be registered by the grantee with the appropriate county. A registration fee needs to be paid to the local registrar’s office to complete the registration formalities of the signed and the sealed document. Once the process is completed the transfer deed can become a part of the public domain. The record can then be properly maintained and accessed as and when required.
If further help is required a real estate agent can help the seller and buyer to compose, sign and register a conveyance deed during the transaction process.
The two types of conveyance deed are:
- Real estate conveyance
- Mineral rights conveyance
The conveyance deed is extremely important to avoid the hassles of going through the probate court or avoiding the possible risk of losing the ownership or rights to the property. This is the most occurrence on account of sudden death and without an existence of an appropriate will. As there will be no legal document to prove that the property can be transferred to the legal heir by the court of law, there could be a situation of serious legal confusion and dispute about the ownership of the property. To eradicate the possible confusion and risk about the ownership authority of the property, conveyance deed is an essential document for all.