Escrow & Title
In Missouri, a deed must include which of the following to be valid?
AAcknowledgment (notarization)
BGrantor's and grantee's names, legal description, and grantor's signature✓ Correct
CPurchase price
DDate of transfer
Explanation
A valid deed requires identification of grantor and grantee, a legal description of the property, words of conveyance (granting language), and the grantor's signature. Acknowledgment is required for recording but not for validity.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Closing CostsFees and expenses paid by the buyer and/or seller at the closing of a real estate transaction, in addition to the property's purchase price.
Transfer TaxA tax imposed by state or local governments when real property ownership is transferred, typically based on the sale price.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
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