What is a deed of agreement?

A deed of agreement is a legal document used in Massachusetts property law that transfers the ownership rights to a piece of real estate. It is a contract between two parties (called the grantor and the grantee) where the grantor agrees to convey the rights to a certain piece of property to the grantee. The deed of agreement outlines the terms and conditions of the agreement, including the rights that each party will have to the property, the price they agree to pay, and any other stipulations. In order for a deed of agreement to be legally binding, both parties must agree to it and sign off on it in the presence of a notary public. Once the deed of agreement is finalized, it is registered in the local land records office. This document acts as evidence that the property has been legally transferred to the new owner. This document is also necessary when seeking to mortgage or sell a property. With a deed of agreement, buyers can be sure they are taking ownership of a property with no outstanding debts or legal disputes attached to it.

Related FAQs

What is the Interpleader Statute?
What is a pre-existing non-conforming use?
What are the elements of a valid deed?
What are real estate taxes?
What is an option to purchase?
What is an agreement to sell?
What is a title insurance policy?
What is a deed of exchange?
What is adverse possession?
What is a lien?

What is a deed of agreement?

Related FAQs

Related Blog Posts