Finance With Owner

A deed is a legal instrument used to grant a right. Deeds are part of the broader category of documents under seal. Deeds can be described as contract-like, as they require the mutual agreement of more than one person. Deeds can therefore be distinguished from covenants, which being also under seal, are unilateral promises. The deed is best known as the method of transferring title to real estate from one person to another, often using a description of its "metes and bounds."

Historically at common law, for an instrument to be a valid deed it needed six things:

• It must indicate that the instrument itself conveys some privilege or thing to someone. This is indicated by using the word hereby or the phrase by these presents in the sentence indicating the gift.
• The grantor must have the legal ability to grant the thing or privilege.
• The person receiving the privilege or thing must have the legal capacity to receive it.
• A seal must be affixed to it. Most jurisdictions have eliminated this requirement and replaced it with the signature of the grantor with some number of signing witnesses. Most jurisdictions[citation needed] also require that the deed be acknowledged before a notary public or a civil law notary.
• It must be delivered to and accepted by the recipient.

Conditions attached to the acceptance of a deed are known as covenants.