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Simple English definitions for legal terms
support deed
Read a random definition: real-estate-mortgage investment conduit
A quick definition of support deed:
A support deed is a legal document that is used to transfer ownership of land from one person to another. It is a written agreement that is signed, sealed, and delivered, and it shows evidence of ownership. A deed can be absolute, meaning it conveys full ownership without any conditions, or it can be a bargain-and-sale deed, which conveys ownership but does not guarantee the validity of the title. There are many different types of deeds, including gift deeds, mineral deeds, and mortgage deeds. A deed is an important legal document that should be carefully prepared and executed.A more thorough explanation:
A support deed is a type of deed, which is a written instrument used to convey land or property. At common law, any written instrument that is signed, sealed, and delivered and that conveys some interest in property is considered a deed. A support deed is a deed that is used to provide financial support to a person or organization.
For example, a parent may use a support deed to provide financial support to their child. The support deed would outline the terms of the financial support, such as the amount and frequency of payments. Another example is a support deed used by a charitable organization to provide financial support to a person in need.
These examples illustrate how a support deed is used to convey financial support, rather than land or property.