In order to be considered valid in law, the deed should;
- Indicate very clearly that it is a deed.
- Be signed by the concerned parties in the presence of a witness.
- And be delivered as per rules provided in the Law of Property (Miscellaneous Provisions) Act of 1989, s1.
The seller should have signed the transfer deed and the buyer should execute the transfer if it contains a covenant or declaration. When other parties such as lenders who are releasing a property from mortgage are involved, they are also required to sign the document.
In addition to the fact that it is signed, the deed should also be delivered. This is because a deed takes effect only after its delivery. When the buyer’s conveyancer delivers the engrossment copy, he does not expect the transfer to become effective. Thus, buyers usually deliver the transfer in escrow, i.e. conditionally so that the transfer is postponed until completion.
Photo courtesy: Alexandre Dulaunoy
