What are the 4 elements of a deed?

(In re Marriage of Wozniak (2020) 59 Cal. App. 5th 120, 133.) To be valid, a deed must be: (1) in writing; (2) name the grantor or the grantor's agent; (3) signed by the grantor or their agent; and (4) delivered and accepted by the grantee.

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New York Referee's Deed in Foreclosure

Referee Deed Definition For Property

Name: Referee Deed Definition For Property
Brand: US Legal Forms
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Category:

Real Estate - Deeds - Statutory

State:

New York

Control #:

NY-02290

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Description referee's deed

This form, a Referee's Deed in Foreclosure, is easily completed or adapted to fit your circumstances. It is available for download now.

A Referee Deed is a legal document that serves as an authoritative record of the transfer or conveyance of property. It is used when there is a need for an impartial third party, known as a referee, to oversee the transfer of ownership or resolve a dispute related to property transactions. In this detailed description, we will explore the Referee Deed definition for property and provide information on the different types of Referee Deeds. Referee Deed for Property: A Referee Deed for property is a written instrument that is executed by a referee appointed by a court or agreed upon by all relevant parties involved in a property transaction. It ensures that the transfer of ownership is conducted fairly and in compliance with applicable laws and regulations. The Referee Deed acts as a legal proof of ownership and guarantees a clean transfer of property rights from the seller to the buyer. Types of Referee Deeds: 1. Foreclosure Referee Deed: This type of Referee Deed is commonly associated with foreclosure proceedings. When a property owner defaults on their mortgage payments, the lender may initiate foreclosure to recover the outstanding loan amount. In such cases, a court-appointed referee oversees the auction or sale of the foreclosed property. The Referee Deed is used to transfer the property's ownership to the successful bidder or to the lender if no suitable buyer emerges. 2. Partition Referee Deed: In situations where multiple owners jointly own a property and wish to divide their interests or resolve disputes regarding the property's use, a Partition Referee Deed is employed. A referee, typically appointed by a court, oversees the partition process and ensures an equitable distribution of the property's value among the involved parties. The Referee Deed finalizes the division of the property or sale proceeds, allowing each party to obtain their share. 3. Trustee Referee Deed: Trustee Referee Deed is related to properties held in trust. When a trust is dissolved, or a property within a trust needs to be transferred or sold, a trustee referee is appointed to oversee the process. The Trustee Referee Deed ensures that the property is conveyed appropriately and all beneficiaries of the trust receive their entitled share as per the trust agreement. 4. Eminent Domain Referee Deed: Eminent domain is a legal process through which the government acquires private property for public use. In such cases, a referee may be appointed to determine the just compensation to be paid to the property owner. The Eminent Domain Referee Deed finalizes the transfer of the property to the government agency or entity involved, providing a comprehensive record of the transaction. It is important to note that the exact laws and procedures surrounding Referee Deeds may vary between jurisdictions. It is advisable to consult with legal professionals or relevant authorities to ensure compliance with applicable regulations when dealing with Referee Deeds for property transactions.

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FAQ

More videos on YouTube Must contain the name of the person giving (Grantor) and the person receiving (Grantee). Must state in the document that you are conveying/granting/quitclaiming the property. Must have the correct property identification ? usually the legal description or at least the property address.

A general warranty deed must include the following to be valid: The name and address of the seller (called the grantor) The name and address of the buyer (called the grantee) A legal description of the property (found on the previous deed)

(In re Marriage of Wozniak (2020) 59 Cal. App. 5th 120, 133.) To be valid, a deed must be: (1) in writing; (2) name the grantor or the grantor's agent; (3) signed by the grantor or their agent; and (4) delivered and accepted by the grantee.

Reference Deed means the notarised deed notarised on April 25, 2001 (UR 4/2001 of Notary Dr. Fritze) which contains all Exhibits and Annexes to this Agreement, except the "Darlehensvereinbarung" and the "Guarantee" which are attached to this deed.

Negative covenants are actions you can't take, while positive covenants are actions you must take. For example, a negative covenant in real estate could prevent you from raising chickens on your property. On the other hand, a positive covenant could require you to mow your lawn.

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Referee's Deed: Used in judicial foreclosures to transfer ownership of the foreclosed property to the. Person who bids the highest amount of money at a foreclosure auction.Deeds that contain no covenants orwarranties although ownership is implied. Real Estate Practice Test - Pass Your Real Estate Exam Now! A referee may handle either the sale or division of interest in the property of the coowners. A referee's deed is similar to a sheriff's deed and conveys property to the winner of a foreclosure auction. The Referee will provide a deed, but usually nothing else. The obligation to obtain a title search, survey etc. THIS DEED, made the day of , , between. Lawаза258). ▫ Referee's deed in partition.

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Referee's Deed in Foreclosure

Definitions and Terms Relevant to Deeds

Note: The information below is a general statement of the law of deeds and is applicable in most states. However, state laws may vary the general statement slightly or to a large degree. The discussion below is intended as general and not as applicable to a particular state. The actual forms will reflect the requirements of your state.

Types of Deeds:

Warranty Deed - If a deed is intended to be a general warranty deed, it should contain a phase specified by state law such as the phrase "conveys and warrants". These words, called operative words of conveyance, carry with them several warranties which the grantor is making to the grantee. Examples of the warranties are:

First, the grantor warrants that the grantor is the lawful owner of the property at the time the deed is made and delivered and that the grantor has the right to convey the property.

Second, the grantor warrants that the property is free from all encumbrances or liens.

Third, the grantor warrants that he or she will defend title to the estate so that the grantee and the grantee's heirs and assigns may enjoy quiet and peaceable possession of the premises with the power to convey the property.

Quitclaim Deed - A quit claim deed conveys to the grantee and the grantee's heirs and assigns in fee all of the legal or equitable rights the grantor has in the property that existed at the time of the conveyance. An example of operative words of conveyance are "convey and quit claim." There are no warranties of title.

Special Warranty Deed - In contrast to a general warranty deed, a special warranty deed limits the liability of the grantor by warranting only what the deed explicitly states. A special warranty deed has practically the same effect as a quitclaim deed. Special warranty deeds are generally used by corporations or other entities that want to avoid assuming the liability of a general warranty deed. Like the general warranty deed, the special warranty deed should contain the appropriate language such as "conveys and specially warrants." Usually, the grantor warrants that he or she did nothing to impair title during the period the grantor held the title. While a special warranty deed may contain covenants of title, these covenants will usually cover only those claims arising by, through, or under the grantor.

Fiduciary Deed - This is a deed to be executed by a fiduciary such as a trustee, guardian, conservator, or similar person in their appointed capacity.

Terms Common to Deeds:

Grantor - The person who owns the property and executes the deed conveying the property to another person. This can be one or more persons, a corporation, limited liability company (LLC), partnership or other entity.

Grantee - The person who receives title to the property. The grantee can be one or more persons, a corporation, LLC, partnership or other entity.

Consideration - The value given to the grantor by the grantee in exchange for the conveyance. Some states include the exact consideration in the deed and others do not but instead include a statement of consideration as being 10.00 and other good and valuable consideration.

Operative Words of Conveyance - These are state specific and generally are statutory. They show intent to transfer present title. As previously mentioned, examples are "conveys and warrants", or "convey and quitclaim" or convey and specially warrant".

Legal Description - The legal definition of the property being conveyed. This is contained in the deed where the grantor obtained title to the property and should be used in the deed where the grantor conveys the property exactly as written in the grantors deed unless not all of the property is being conveyed.

Life Estate - A life estate is where a person owns all the benefits of ownership in the property during their life, or the life of another, with the property going to a remainder person after the death of the life tenant.

Tenants in Common - This is how two or more people (co-tenants) may take title to property who intend their share in the property to be separate from the other on death. On the death of the tenant in common the deceased persons ownership in the property is left to his or her heirs or as specified by Will. Compare to Joint Tenants. If tenant in common ownership is desired the deed usually provides, "to Grantees, A and B, as tenants in common and not as joint tenants".

Joint Tenants with Rights of Survivorship - This is how two or more persons may take title to property when the parties want the entire ownership to go to the survivor instead of the heirs of the survivor. On death of a joint tenant with rights of survivorship, the entire interest of the deceased co-tenant goes to the surviving co-tenants. Compare to Tenants in Common. It is common for husband and wife to take title as joint tenants with rights of survivorship. If joint tenant with rights of survivorship ownership is desired, the deed usually provides, "to Grantees, A and B, as joint tenants with rights of survivorship and not as tenants in common".

Community Property - In community property states, special laws govern how property is owned between husband and wife.

Reservation Clause - This is a provision of a deed where the grantor may reserve some right in the property such as mineral rights.

Exception Clause - This is a clause in a deed were exceptions to title conveyed may be listed. Example, "Less and Except a prior reservation of all oil, gas and mineral rights in the property conveyed."

Subject to Clause - This is a clause in a deed where property useage rights may be states. Example: "Subject to all rights of way, easements and protective covenants of record".

Execution and Acknowledgments

Execution - A deed must be in writing and signed by the grantor(s). Generally, deeds conveying a homestead estate must also be signed by the grantor's spouse.

Acknowledgments - In addition to the signature of the grantor(s), deeds must be acknowledged to be recorded and acceptable as evidence of ownership without other proof. Each state has special acknowledgment forms.

Procedural Requirements

Name, Address, phone - The names of the grantor and the grantee should appear on the deed. The address and phone numbers are also usually included.

Recording or Filing Place - Generally, deeds should be recorded in the county in which the real estate is located. Although generally a deed does not have to be recorded to be a valid conveyance, there are practical reasons for recording a deed. Deeds usually do not take effect as to creditors and subsequent purchasers without notice until the instrument is recorded. Thus, unrecorded deeds may be void as to all subsequent creditors and subsequent purchasers without notice until they are filed for record. Recording a deed places subsequent purchasers on constructive notice in that subsequent purchasers are deemed to have actual knowledge of any recorded instrument. Some states are "race-notice" states, which means that the first grantee without notice to record a deed to property will be protected against the interests of other grantees with unrecorded deeds to the same property.

Acceptance and Delivery - Another element of a valid deed is that the deed must be delivered and accepted to be an effective conveyance. Most states assume delivery if the grantee is in possession of the deed. The deed also must be accepted by the grantee. This acceptance does not need to be shown in any formal way, but rather may be by any act, conduct or words showing an intention to accept such as recording the deed.

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Referee's Deed in Foreclosure

Definitions and Terms Relevant to Deeds

Types of Deeds:

First, the grantor warrants that the grantor is the lawful owner of the property at the time the deed is made and delivered and that the grantor has the right to convey the property.

Second, the grantor warrants that the property is free from all encumbrances or liens.

Fiduciary Deed - This is a deed to be executed by a fiduciary such as a trustee, guardian, conservator, or similar person in their appointed capacity.

Terms Common to Deeds:

Grantee - The person who receives title to the property. The grantee can be one or more persons, a corporation, LLC, partnership or other entity.

Community Property - In community property states, special laws govern how property is owned between husband and wife.

Reservation Clause - This is a provision of a deed where the grantor may reserve some right in the property such as mineral rights.

Subject to Clause - This is a clause in a deed where property useage rights may be states. Example: "Subject to all rights of way, easements and protective covenants of record".

Execution and Acknowledgments

Execution - A deed must be in writing and signed by the grantor(s). Generally, deeds conveying a homestead estate must also be signed by the grantor's spouse.

Procedural Requirements

Name, Address, phone - The names of the grantor and the grantee should appear on the deed. The address and phone numbers are also usually included.

How to Order

To order the deed you have located, close this window and click on the order icon.

Referee Deed Definition For Property

Description referee's deed

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How to fill out Referee Deed Definition For Property?

Form popularity

FAQ

What two elements are required for a deed to be valid?

Which of the following items must be included on a deed?

What are the 4 elements of a deed?

What is a reference deed?

What is an example of a covenant that may be found in a deed?

More info

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Referee Deed Definition For Property

Description referee's deed

Viewed forms

How to fill out Referee Deed Definition For Property?

Form popularity

FAQ

What two elements are required for a deed to be valid?

Which of the following items must be included on a deed?

What are the 4 elements of a deed?

What is a reference deed?

What is an example of a covenant that may be found in a deed?

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