Is the transfer and assignment of any property right or interest from one individual or entity (the conveyor) to another (the conveyee)
CONVEYANCE
This is usually accomplished through a written instrument – most often a deed- that transfers title to, or creates a lien on property.
CONVEYANCE
refers to a contract, meaning that the buyer, as well as the seller is legally bound to fulfill their obligations. Supposing either party doesn’t do so, the other party is capable of suing the defaulting party in court to either claim damages or enforce the contract.
DEED
Is a written instrument under seal containing a contract or agreement which has been delivered by the parties to be bound and accepted by the oblige or covenantee.
DEED
It is a legal document that grants its holder ownership of a piece of real estate or other assets, such as an automobile
CARDINAL RULES IN DRAFTING CONTRACTS/DEED AS LEGAL DOCUMENTS
RULE 1 - The usual commencement of a contract should be:
“This Agreement” or “An Agreement” or “Articles of Agreement”
RULE 2 - The FULLNAMES of the parties, their capacity, civil status, and their residences, should come next. The logical order in which the parties are to be named in the document must be observed.
RULE 3 - The principal or operational clauses of the document should be stated in separate, numbered paragraphs
RULE 4 - Verbosity (wordiness) should be avoided
RULE 5 - Specific or technical terms, which have special meanings in the document, should be especially defineD
RULE 6 - Names of parties should be repeated. The use of PRONOUNS would give rise to AMBIGUITY
RULE 7 - The document must be NEAT, FREE FROM ERASURES, INTERLINEATIONS, OR SUSPICIOUNS OF ALTERATIONS
RULE 8 - A clause may be inserted at the end of an agreement that”
RULE 9 - The place and date of execution of the document usually come LAST, and may be stated thus:
“Signed in the City of Manila, Philippines, this day of , 20 .”
WHAT IS A WILL
is a legal document which is prepared with certain formalities, and under which a person directs what will happen to his/her property after his/her death.
WHAT IS A WILL
This will is effective only upon the person’s death and it can be modified or revoked by the person at any time during his/her life.
DISTINCTION BETWEEN A DEED AND A WILL
While wills and deeds are completely different documents, both of them have the effect of transferring ownership of property, and both can be used in disposing of such property in the context of estate planning. A will disposes of one’s estate upon death and a deed passes an interest in land or other real property.