GENERAL GUIDELINES TO CONVEYANCING
Q. Enumerate and explain important parts of an 'Indenture'. OR A. Write notes on the following,
I. Consideration II. Conveyancing III. Recitals IV. Parcels V.Habendum
1. INTRODUCTORY NOTE:
The deed is a written document which is signed and attested if necessary and delivers such documents, intended to perform an act with respect to property and to form an authentic record of transactions. In England the technical word used to word deed is" indenture". In Pakistan word "deed" & "indenture" do not find any place in the statutes and word "instruments' or 'documents' have been used instead. When the single party executes the deed, it is called a 'deed poll'.
2. LANGUAGE AND CONTENTS OF DEEDS:
No particular form or language has been prescribed in law for drawing up of deeds. The only requirement is that the intention of the parties must be clearly stated and the wording shall be unambiguous and clear.
3. COMPONENT PARTS OF THE DEED:
I. Description OF THE DEED:
It means what type of transaction is to be drawn on the paper, for example mortgage deed, deed of sale, deed of mortgage, gift deed, deed of exchange etc. It is a custom to write the title in capital words though it is not necessary.
II. DATE OF EXECUTION:
This is the date on which deed is going to be written and executed.
III. NAME AND DESCRIPTION OF PARTIES:
The names of all the parties to the deed, their parental name, their residing address and their ID card numbers are written under this head.
IV. RECITALS:
Recitals mean narration of the facts. Recitals are of two kinds,
i. NARRATIVE:
Narrative recitals are those recitals which describe the past history of the property which is under transfer.
ii. INTRODUCTORY:
Introductory recitals are those recitals, which explain the motive for the execution of the deed.
V. TESTATUM:
It is witnessing clause necessary before the writing of the operating words of the deed. For example "this deed witnesseth as follows".
VI. CONSIDERATION:
Mentioning of consideration is necessary in the deed. It ascertains the stamp duty on the deed. Acknowledgement of receipt of consideration may be embodied in the deed itself instead of giving a separate receipt.
VII. OPERATIVE WORDS:
These are the words, which set-forth the main object of writing of deed and it gives effect to the transaction. It is customary to mention that the transaction has been entered into by the both parties without any force, coercion, undue influence, and misrepresentation.
VIII. PARCELS:
Parcel is the description of the location of the property transferred. For example house A which is to be transferred, has a ground on his right side, has Zahid Hussain's house on left side, a vacant plot on his backside and a road on the face of it.
IX. EXCEPTIONS & RESERVATIONS:
Exceptions are the rights in existence necessary for completion of the transact on. Reservation is something not in existence at the date of transaction but is duly created by grant such as the right of way etc.
X. HABENDEM:
It means "to have" and "to hold" clause and its purpose is to name again the transferee and to define the estate and the amount of interest taken by transferee.
XI. COVENANTS:
It simply means the terms of agreement which may be entered into by the parties signing the deed.
XII. TESTIMONIUM AND ATTESTATION:
Testimonium sets-forth the fact of the parties signing the deed. For example, signed at Lahore etc this 1st day of August, 2007. Attestation sets-forth the facts of the witnesses attesting the execution of the deeds. For example,
(Sgd) AB (Sgd) AB
Witness Witness
____________________ ____________________
____________________ ____________________
