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Real Estate Contracts >Signed Sealed and Delivered

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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Q	What is a Balloon Mortgage?
A	A balloon is a short-term mortgage which requires the entire balance of the loan to be re-paid at the end of the loan term.
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2004 Southland Regional MLS. All rights reserved.
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange/ Broker Reciprocity Program of Southland Regional MLS. Real estate listings held by brokerage firms other than Keller Williams are marked with the Internet Data Exchange/Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.
The broker providing this data believes it to be correct, but advises interested parties to confirm them before relying on them in a purchase decision.

Southland Regional MLS data last updated: 12/16/04, 9:07 AM

2004 Ventura MLS. All rights reserved.
The data relating to real estate for sale on this web site comes in part from the IDX Program of the Multiple Listing Service, Inc. of Ventura MLS. Real estate listings held by Keller Williams and brokerage firms other than Keller Williams are governed by the Multiple Listing Service, Inc. Rules and Regulations and detailed information about them includes the name of the listing companies. The information being provided is proprietary property of the Multiple Listing Service, Inc. and is for consumers' personal, non-commercial use and shall not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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