Buying On Land Contract

Buying On Land Contract

Buying On Land Contract

A deed is defined as a writing on paper, parchment or vellum, signed, sealed and delivered. Sealing is not necessary for a valid deed so long as one of the other requirements in the subsection are present. It is a solemn and formal contract for which no external consideration is normally required.

Whether a Deed is Really a Deed

A deed must do one of the following:

  • Effects the transfer of an interest, right or property;
  • Creates an obligation binding on some person or persons; or
  • Confirms an act whereby an interest, right or property has already passed.

Instruments which on their face appear to be deeds but which on analysis do not perform one of the functions set out above are not, in fact, deeds.