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Real Estate Tips
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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Real Estate Trivia
Q 
What are the world's most valuable chairs?

A 
A pair of Chippendale chairs designed by Robert Adam sold in 1997 at Christie's, London to an anonymous buyer for $2,762,330.
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The Bishop Team, REALTOR®, real estate agents and broker for Wichita Falls, Burkburnett and Sheppard Air Force Base Texas home listings, property and land for sale - NUMBER1EXPERT(tm)

The Bishop Team
Ann and Denny Bishop Realtor Group

1916 N. Elmwood Ave.
Wichita Falls, TX 76308
Tel: 800-687-9160
Denny: 940-781-4111
Fax: 940-691-7563
Email: annanddennybishop@NUMBER1EXPERT.com


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