Property Ownership
In Ohio, which of the following is NOT an essential element required to convey real property by deed?
AGrantor with legal capacity
BLegal description of the property
CNotarization (acknowledgment)
DConsideration stated in the deed✓ Correct
Explanation
The essential elements of a valid deed include: grantor (with capacity), grantee, consideration (even nominal), legal description, words of conveyance, grantor's signature, and delivery and acceptance. Consideration need not be stated specifically, and courts interpret 'nominal' consideration broadly.
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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).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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