Annotate Legal Maine Contract For Deed Forms For Free

Deeds must have the name of the grantor and grantee as well as consideration paid for the property. In addition, a legal description of the property is required. A notary or an officer of the court, such as an attorney or court clerk, must sign an acknowledgment before the deed may be filed with the registry of deeds.

A Warranty Deed is the strongest deed and warrants to the Grantee: That the Grantor has not previously conveyed the estate or any interest therein to anyone except the Grantee; and. The estate is free from encumbrances.

A deed is a written contract that must satisfy additional execution formalities to be enforceable. In many cases, employment contracts do not need to be executed as a deed to protect the employer's interests.

A general warranty deed is the most common type of deed used for transferring real estate. It basically promises that: not only does the seller have good and proper title to sell the property, but all the prior owners also had good title, thus making a complete ?chain of ownership?; and.

Under Seal (Deed) A contract under seal, also known as a formal contract or Deed, is a contract that is executed with formalities such as a seal, signature or witnesses. The seal is typically a wax or wafer seal affixed to the document. This type of contract is legally binding and enforceable in court.

There are four commonly seen deed categories: Quit Claim, Warranty, Special Warranty, and In Trust Deeds. When buying or selling real estate, it is important to understand the differences in each type of deed.