What is a deed of cross-conveyance?
A deed of cross-conveyance is a legal document used in real estate law in Virginia. It is used to legally transfer title and ownership of real property from one party to another. The document is typically signed by both parties, and the deed must be recorded to be legally binding. The deed must include a description of the property being transferred, and the names of the parties involved as well as other identifying information. In Virginia, a deed of cross-conveyance can be used for any type of real estate transaction, such as the sale, trade, or exchange of property, or the transaction of a leasehold interest. It may also be used to create an easement on the property, or to transfer a portion of the interest in the property from one owner to another. In a deed of cross-conveyance, both parties are mutually exchanging something of value — title to the real estate, cash, or another form of payment — in order to complete the transaction. The deed must be witnessed by at least two people, and can be notarized if necessary. When it is recorded, it is considered officially valid and binding.
Related FAQs
What is an encumbrance?What is an implied easement?
What is a lease with an option to buy?
What is a quiet title action?
What is the difference between a warranty deed and a quitclaim deed?
What are the different types of mortgages?
What is an encroachments clause?
What is the difference between a real right and a personal right?
What is eminent domain?
What is an equitable servitude?
Related Blog Posts
What You Need to Know About Property Law - July 31, 2023Property Law: What to Look Out For When Purchasing Real Estate - August 7, 2023
Understanding the Basics: A Guide to Property Law - August 14, 2023
Common Types of Property Law Cases - August 21, 2023
The Impact of Property Law on Real Estate Transactions - August 28, 2023