Escrow & Title
A Mississippi property owner asks their attorney to draft a 'deed of gift' to convey property to a family member. Which of the following statements about this deed is TRUE?
AA deed of gift requires no consideration and the grantor warrants nothing✓ Correct
BA deed of gift is void without consideration
CA deed of gift is only valid if MREC approves it
DA deed of gift must include a stated purchase price
Explanation
A deed of gift is a voluntary conveyance made without monetary consideration—it is valid as a gratuitous transfer. Love and affection may be stated as consideration. No warranties are necessarily included.
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