Difference between revisions of "Deed"
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| − | A '''deed''' is a legal instrument | + | A '''deed''' is a written legal instrument that describes the rights and obligations of parties to it. A deed differs from a [[contract]] in that it requires no consideration to be effective and it retains its force until it is discharged by another deed, or by the requirements of the deed itself. Deeds are required to set up a [[trust]] and (in some jurisdictions) to transfer real property and to allow securities to attach to land. Deeds must be kept in a solicitors or attorneys office until discharged. |
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[[Category:Legal Terms]] | [[Category:Legal Terms]] | ||
Revision as of 06:41, December 24, 2012
A deed is a written legal instrument that describes the rights and obligations of parties to it. A deed differs from a contract in that it requires no consideration to be effective and it retains its force until it is discharged by another deed, or by the requirements of the deed itself. Deeds are required to set up a trust and (in some jurisdictions) to transfer real property and to allow securities to attach to land. Deeds must be kept in a solicitors or attorneys office until discharged.