DRAFTING OF DEEDS Presented By Gaurav Rustagi. Contact 9313198281.

Slides:



Advertisements
Similar presentations
Consideration Definition: X promises not to file a suit against Y if Y pays him $100 by a fixed date. The forbearance of X is the consideration for Y's.
Advertisements

1. Parties have contractual capacity 2. Contract has legal purpose 3. Offer 4. Acceptance 5. Consideration 6. Statute of Frauds compliance.
Preparing Contract Document Presentation at Legal Development Programme National Law Institute University, Bhopal, India 16 th -25 th November 2010 Anil.
CONTRACT TEMPLATES FOR THE AGRO SECTOR. Objectives To understand the importance of contracts To be able to promote their use in the agro sector.
Contract Analysis Codex FutureLaw Stanford Law School.
NEGOTIABLE INSTRUMENT SEC 13 OF NI ACT STATES THATA NEGOTIABLE INSTRUMENT MEANS A PROMISSORY NOTE,BILL OF EXCHANGE OR CHEQUE PAYABLE EITHER TO ORDER OR.
By: Noman Ahmed KASB Bank.  Interpretation  Sale & Purchase of asset  Payment of Price  Responsibility of Bank  Prepayment  Customers Presentations.
Tyrell Robertson & DuRanda Smith
Sales Contracts.  Sale – Contract in which ownership of goods transfers immediately from the seller to the buyer  Ownership – Collection of rights that.
IMPORTANT READ CAREFULLY BEFORE USING THIS PRODUCT LICENSE AGREEMENT AND LIMITED WARRANTY BY INSTALLING OR USING THE SOFTWARE, FILES OR OTHER ELECTRONIC.
B r a z o s R i v e r A u t h o r i t y Ratification of Contract for Sale of Certain Property at Possum Kingdom Lake, and Authorization to Execute Contract.
MR. ALEX NARTEY NATIONAL COORDINATOR OF ADR.  There are two types of mediation agreement  The agreement to mediate (consent to mediate) and  Terms.
STAMP AND REGISTRATION Presented by: K.Vanlalthiana Deputy Director Land Revenue and Settlement.
Negotiations of Contracts Getting agreement on what was agreed.
© OnCourse Learning. All Rights Reserved. Transfer of Title to Real Property Learning Objectives  List the methods of transferring title: By descent Four.
Deeds - PAR 131 Real Estate I Mike Brigner, J.D.
Applicable in entire India except the State of Jammu & Kashmir. Deals with law relating to three specific instruments, viz. Promissory note, Bill of.
Real Estate Law Deeds.
Real Estate Principles and Practices Chapter 5 Estates, Interests, Deeds, and Title © 2014 OnCourse Learning.
Copyright © 2008 by West Legal Studies in Business A Division of Thomson Learning Chapter 23 Nature and Form of Sales Contracts Twomey Jennings Anderson’s.
Legal Document Preparation Class 1Slide 1 Basic Types of Legal Documents Instrument –This is a formal legal document that grants (or proves the grant)
CH1 INTERNATIONAL TRADE CONTRACTS
Real Estate Law Mortgage Foreclosures Real Estate Law Mortgage Foreclosures.
Legal Document Preparation Class 3Slide 1 Real Property Contracts- Key Clauses Parties, including the names of –Buyer and seller (including marital status.
Methods of Transfer and Conveyance in Real Estate.
Business Law Chapter 8: Contract Clauses. Introduction to Contract Clauses A contract clause is simply a statement contained in a contract. –Clause: A.
Islamic Modes of Financing Diminishing Musharakah.
Legal Document Preparation Class 2Slide 1 Elements of a Contract to be Considered in Drafting The writing should clearly indicate the presence of an offer.
C O A L I T I O N Corner Understanding Real Estate Law: 11 Elements of Compliance Coalition Corner: Business training tools for HR staff, real estate licensees.
Chapter 12 Transfer of Title Despite technology, real estate is not a paperless industry. A wide variety of documents are needed to establish title, transfer.
Revised Chapter 12 Slide #1 Copyright – David A. McGowan All rights reserved Chapter 12 Transfer of Title (Page 225) Deed – an instrument that.
Real Estate Law The Basic Real Estate Contract Real Estate Law The Basic Real Estate Contract.
Real Estate Principles and Practices Chapter 6 Contracts and Business Law © 2014 OnCourse Learning.
Chapter 4 The Will. Wills, Trusts, and Estates Administration, 3e Herskowitz 2 © 2011, 2007, 2001 Pearson Higher Education, Upper Saddle River, NJ
Previous Lecture Kinds of Contract Formal, Simple Quasi Contract
Presentation to the Portfolio Committee on Minerals and Energy Minerals and Energy Laws Amendment Bill.
Real Estate Principles and Practices Chapter 5 Estates, Interests, Deeds, and Title © 2010 by South-Western, Cengage Learning.
LAW for Business and Personal Use © 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible.
© 2012 Cengage Learning. Residential Mortgage Lending: Principles and Practices, 6e Chapter 2 Real Estate Law and Security Instruments.
2010©Cengage Learning. All Rights Reserved.
Photo 1 QuestionAnswer Who is the picture of?Little mix. What permission do you need to use them in your magazine? A contract. How can you get the permission?
Chapter 5 Deeds and Leases. Deeds  Written document that transfers title (ownership) of real estate  Necessary Elements of a Deed Designation of the.
Real Estate Principles and Practices Chapter 6 Contracts and Business Law © 2010 by South-Western, Cengage Learning.
Let’s Make a Deal Buying and Selling a Practice. Presented by Denise Robertson, Mills & Mills LLP Denise joined Mills & Mills LLP as an Associate in 2005.
LAW for Business and Personal Use © 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible.
 Three things are necessary in order for there to be a contract: an offer, acceptance and consideration  Consideration is something promised mutually.
An introductory business letter is supposed to make a good impression with a potential customer (called a prospect). Writing a letter to introduce your.
©OnCourse Learning. All Rights Reserved.. Transferring Title ©OnCourse Learning. All Rights Reserved. Chapter 13.
Content and interpretation of Contracts The vast majority of the contracts pose no problems - they are usually a simple interchange of cash for goods/services.
Modern Real Estate Practice in Pennsylvania 12th Edition Chapter 9: Transfer of Title.
© 2015 OnCourse Learning Chapter 7 Transfer of Title to Real Property.
Contract Law Forming a contract (The Elements) Validity Contract Types.
The Purchase Contract. CONTRACTS Offer Acceptance Consideration Defenses Writing Required? Valid Contract Yes No No Contract Void or Voidable Contract.
Buying and Selling Real Property CHAPTER THIRTY-ONE.
The Negotiable Instruments Act Negotiable Instrument According to Section 13(i) “ a negotiable instrument means a promissory note, bill of exchange.
DOCUMENTS AND AGREEMENT FOR SALE
Organize the Required Parts and Forms of a Contract
Chapter 1 The nature of a contract Overview
Lesson 4.2 Agreements and Record Keeping
Chapter 8 Deeds.
Law for Business, 15e by Ashcroft
Legal and legislative Drafting
Preparing Contract Document
GSTIndia.biz LETTER OF UNDERTAKING UNDER EXPORT – CONDITIONS & REQUIREMENTS FOR FILING Ashu Dalmia Consultant: GCC VAT, INDIA GST, TRAINER & AUTHOR Mob:
BOOK VI THE LAW RELATING TO NEGOTIABLE INSTRUMENTS
Legal Aspects of business
Receipt for Lease Security Deposit
© OnCourse Learning.
ROOM RENTAL AGREEMENT.
Leasehold Transactions
Presentation transcript:

DRAFTING OF DEEDS Presented By Gaurav Rustagi. Contact

Rules of Drafting some do’s:-  Avoid unnecessary repetition  Write shorter sentences  Choose the right words  Prefer the active to the passive sentences  Express the ideas in fewer words  Know exactly the meaning of the word & sentences you are writing.  Put yourself in place of reader, read the documents and satisfy yourself about the content, interpretation and sense it carries.

Rules of Drafting Some don’t:-  Avoid the use of words of same sound (Employer & Employee)  we should avoid the use of words “Less than” or “more than”, we must use “not exceeding”

Components of Deeds 1. Deed title 2. Place & date of execution 3. Description of parties 4. Recitals 5. Testatum 6. Consideration 7. Receipt clause 8. Operative clause 9. Description of property cntd.

Components of Deeds 10. Exceptions & Reservations 11. Parcels clause 12. Premises & habendum 13. Covenants & undertakings 14. Testimonial Clause 15. Signature and attestation 16. Endorsement & Supplemental deeds. 17. Annexure or schedules.

Deed Title :- The deed should contain the correct title such as “ This Deed of Sale” “ This Deed of Gift” “ This Deed of Conveyance” “ This Deed of Exchange” “ This Deed of Lease” But the word “This Deed” should written as “THIS DEED”

Date & Place  Date in the context of deed is the date on which deed has been executed.  If a deed is undated, deed is valid subject to burden of proof.  Date should be written in words and in figures.  The place is the territorial and legal jurisdiction.  An illustration of this part follows:- “THIS DEED of Lease made at Gurgaon on the First day of June,two thousand eight( )”.

Description of parties  Parties name should be clearly described.  While describing the parties always transferor should be mentioned first and the transferee comes in the last.  Full description of the parties should be given for identification. Description must be given in following order. Names comes first, then surname and thereafter address followed by other description such as s/o, w/o, d/o etc…

Recitals  Recitals contain the short story of the property up to its vesting into its transferors. Recitals should be short & intelligible.  Recitals generally begins with the words “WHERE AS “ and when there are several recitals instead of repeating the words “WHERE AS” before each and every one of them, it is better to divide the recitals into numbered paragraphs for example, “WHERE AS”

Testatum  This is the “witnessing” clause which refers to the introductory recitals agreement, if any, and also states the consideration.  Witnesses clause usually begins with the words “NOW THIS DEED WITNESSES” if more than one observation then this clause can be written as “NOW THIS DEED WINTNESSES AS FOLLOWS” 1. 2.

Consideration & Receipt  Consideration is very important in a document and must be expressed.  Receipt is the acknowledgement of the consideration amount by the transferor, who is supposed to acknowledgment the receipt of the amount. Example:-  “Now this deed the witnesses that in pursuance of the aforesaid agreement and in consideration of sum of Rs (Rupees one lakh only) paid by the first party to the second party before the execution thereof receipt of which the second party does hereby acknowledge)

Description of property  Registration laws in india require full description of property for example Side east, west, north, south etc. area, location, permitted use, survey no.

Parcels clause  This is a technical expression.  Usually starts with the words “All Those…………………………”  Unless a different intention is expressed or necessarily implied, a transfer of property passes forthwith to the transferee all the interest which the transferor is then capable of passing in the property, and in the legal incidents there of.

Exceptions & reservations This clause generally signified by the use of words “subject to” in deeds,where it is mentioned, it is advisable that both the parties sign, to denote specific understanding and consenting to this aspect.

Premises & Habendum Habendum is a part of deed which states the interest, the purchaser is to take in the property. This Clause starts with the words “THE HAVE AND TO HOLD”

Covenants & Undertakings Means agreement or consideration or promise by the parties generally starts with “The parties aforesaid hereto hereby mutually agree with each other as follows”

Testimonium clause This clause is the last part of deed. It signifies that the parties to the document have signed the deed. generally written as “ In witness whereof the parties hereto have signed this day on the date above written.”

Signature & Attestation Clause Attestation is necessary in the case of some transfer like mortgage, gift, sale etc. Signature of all of parties to the deed should be attested and witnessed by two parties.

Endorsement & Supplemental deeds Endorsements means write of back for eg. Cheque, bill of exchange etc… Supplementary deed is the one which is entered between two parties on same subject on which there is a prior document exists.

Annexure or Schedules Annexure means like site plan or map plan showing exact location of property like survey no., gali no. sector etc.