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Simple English definitions for legal terms
onerous deed
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A quick definition of onerous deed:
A deed is a written document that shows who owns a piece of land or property. It can also be used to show that someone has promised to do something, like pay money or take care of the property. There are different types of deeds, like a gift deed which is given for free, or a mortgage deed which is used to borrow money. A deed is important because it proves who has the right to use or sell the property.A more thorough explanation:
An onerous deed is a type of legal document that imposes a burden or obligation on the person who receives it. It is a written instrument that conveys some interest in property and is signed, sealed, and delivered. A deed is a legal document that can be used to transfer ownership of property from one person to another.
Examples of onerous deeds include:
- A mortgage deed, which is a document that creates a lien on a property as security for a loan.
- A deed of trust, which is a document that conveys title to real property to a trustee as security until the grantor repays a loan.
- A deed of settlement, which is a document that settles the distribution of property in a marriage.
These examples illustrate how an onerous deed can impose a burden or obligation on the person who receives it. For example, a mortgage deed requires the borrower to make regular payments on the loan, while a deed of trust requires the borrower to repay the loan or risk losing the property.