Most people assume that when a real estate deed is signed, it is effective. However, there is one more essential part of the process. Even if a deed is properly executed, it is not effective until it has been delivered to and accepted by the buyer. This can sometimes create bizarre results. Here is an example.

An elderly man properly signed, sealed and acknowledged a deed to his nephew and placed it in an old tin box in his room, where it was discovered shortly after he died. The nephew lost a contest with other heirs over the property because the deed was not delivered, and therefore, was not effective at the time of the old man's death.

Until the deed is delivered, the title remains with the seller, who could change his mind at any time and destroy the deed. But once the deed has been properly delivered and accepted, the title passes and cannot be revoked. Thus the old, old saying: signed, sealed (and notarized) -- and delivered.

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Lindsay Smith
RE/MAX Spirit Inc.
21 Drew Street
Oshawa, ON L1H 4Z7
905-434-5222
Toll Free: 1-888-732-1600
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lindsaysmith@NUMBER1EXPERT.com

Negotiating for over 2 decades means having gained experience from many difficult and challenging situations. I bring this experience with me to help you achieve a better price. I am continually negotiating with sales reps with lesser experience which gives my clients the opportunity to sell higher or buy lower.

    

    

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