What is a deed of cross-conveyance?

A deed of cross-conveyance is a legal document used to exchange property between two parties in the state of Alaska. It is used when two parties are exchanging two separate pieces of real estate, such as when a homeowner sells their property and buys another property, but wishes to request a simultaneous conveyance of the two properties. In a deed of cross-conveyance, one party conveys their interest in one property in exchange for the other party’s interest in the other property. The deed of cross-conveyance must include language that specifies both properties, along with their descriptions and legal owners. It should also include all relevant facts about the transaction, including any encumbrances, liens, or other encroachments that the two properties may have. In cases where a mortgage is involved, a deed of cross-conveyance may also contain language releasing the mortgage from the one property and transferring it to the other. Once both parties to the deed of cross-conveyance have signed the document, it should be recorded with the local land records office. This deed of cross-conveyance helps to ensure that both parties to the transaction receive their full interests in the two exchanged properties, and that no other claims to these properties can be made.

Related FAQs

What is a negative servitude?
What is an accession?
What is a landlord's duty to provide safe housing?
What is a deed of quitclaim?
What is title search?
What is necessary to establish an equitable easement?
What is the difference between a deed and a title?
What is an implied easement?
What is the difference between a deed and a mortgage?
What is the right of survivorship?

What is a deed of cross-conveyance?

Related FAQs

Related Blog Posts