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Simple English definitions for legal terms
statutory deed
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A quick definition of statutory deed:
A statutory deed is a written document that transfers ownership of land from one person to another. It is a legal agreement that is signed, sealed, and delivered. A deed can be absolute, meaning it conveys full ownership without any conditions, or it can have certain limitations or guarantees. There are different types of deeds, such as a gift deed, a warranty deed, or a mortgage deed. A deed is an important legal document that proves who owns a piece of property.A more thorough explanation:
A statutory deed is a type of legal document that is used to transfer ownership of property from one person to another. It is a written instrument that is signed, sealed, and delivered, and it conveys some interest in the property.
For example, if John wants to sell his house to Jane, they would use a statutory deed to transfer ownership of the property. The deed would include information about the property, such as its legal description, and it would be signed by both John and Jane.
There are many different types of statutory deeds, including:
Each type of deed has its own specific requirements and purposes. For example, a warranty deed provides the buyer with a guarantee that the seller has clear title to the property, while a quitclaim deed makes no such guarantee.
Overall, a statutory deed is an important legal document that is used to transfer ownership of property. It is a binding agreement between the buyer and seller, and it is essential for ensuring that the transfer of ownership is legal and valid.