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The title deed is the most important evidence of property ownership. The deed conveys ownership of the property from one person to the other. For the deed to be considered valid and watertight, there are certain elements it must contain. If you are thinking about buying property or are in the process of getting property transferred to you from another person, it is advisable to consult conveyancing lawyers to help you determine if the deed meets the essential qualities to be valid. Here are the three most essential qualities of the deed.

The Identity

Unfortunately, most prospective property owners do not understand that there is a clear difference between a title and the deed. The title gives you the legal right to use the property. The deed is more important because it is the documents which show that the property ownership was handed to you. Identity is therefore very essential in the deed. The deed must correctly identify the person giving up the title and the person receiving it. Your lawyer should check the document for name spellings and other minor details which may create problems with deed ownership.

The Consideration

This is the second essential component of a deed. The consideration is simply the value promised to the other person when making the transfer. Deeds are normally exchanged for money but that does not mean that consideration is limited to money. The document, therefore, must state the consideration which the grantee gave the grantor when making the contract and that it was fulfilled. 

The Description of the Property

The land or property being conveyed must be stated in clear terms. It may seem like the easy part, but it is often the source of property disputes. Before getting a property description, you should speak to surveyors and ensure that the boundaries have been marked correctly. Your conveyancing lawyer also needs to be keen and ensure that the wording used to describe the property is clear and cannot lead to confusion. Legal terms, such as government survey system, recorded plat, metes and bounds and others, must be used in the description process.

Other essential components include the signature of the two parties, the delivery and acceptance. It is always advisable to engage a certified conveyancing expert when buying or selling property, especially before deed transfer. They will check the deeds and other documents and make sure that they meet the basic standards to be considered legal. Look for a conveyancing company like Ray Swift Moutrage & Associates to learn more.