The Revocable Deed is a specialized legal instrument used in Canadian jurisdictions when a property owner wishes to transfer interest in property while maintaining the right to revoke the transfer. This document is particularly useful in estate planning, family property arrangements, or business restructuring where flexibility in property disposition is desired. It must comply with both federal and provincial property laws, including requirements for proper execution, witnessing, and registration. The deed contains essential elements such as party identification, property description, transfer terms, revocation procedures, and any conditions or restrictions on the property use. It's commonly used in situations where the grantor wants to maintain some control over the property transfer, such as in family trusts, conditional business transfers, or phased property dispositions. The document requires careful drafting to ensure it meets all legal requirements while clearly establishing the rights and obligations of all parties involved.
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1. Parties: Identification of the grantor (person making the deed) and grantee (recipient), including full legal names and addresses
2. Background: Context of the deed creation, relationship between parties if relevant, and general purpose of the deed
3. Definitions: Definitions of key terms used throughout the deed
4. Property Description: Detailed legal description of the property or rights being transferred
5. Grant: The operative words of transfer and the estate or interest being conveyed
6. Revocation Rights: Clear statement of the grantor's right to revoke the deed and the process for revocation
7. Consideration: Statement of consideration (if any) for the deed
8. Representations and Warranties: Grantor's declarations regarding ownership, authority to transfer, and property condition
9. Execution Requirements: Requirements for proper execution, including witnessing and notarization
10. Registration Provisions: Provisions regarding registration of the deed in appropriate land registry
1. Conditions Precedent: Used when the deed's effectiveness is subject to certain conditions being met
2. Powers of Attorney: Include when someone other than the grantor may exercise rights under the deed
3. Trust Provisions: Required when the property is being transferred into a trust arrangement
4. Life Interest Provisions: Used when the grantor retains a life interest in the property
5. Spousal Consent: Required in cases where the property is a matrimonial home or subject to spousal rights
6. Environmental Warranties: Include for properties where environmental conditions are a concern
7. Reserve Rights: Used when the grantor wishes to reserve certain rights or easements
8. Tax Implications: Include when specific tax consequences need to be addressed
1. Schedule A - Property Description: Detailed legal description of the property, including surveys, lot numbers, and boundaries
2. Schedule B - Permitted Encumbrances: List of existing encumbrances that will continue after the transfer
3. Schedule C - Special Conditions: Any special conditions or restrictions attached to the property
4. Schedule D - Property Plans: Relevant property plans, surveys, or drawings
5. Appendix 1 - Required Notices: Forms of notice required for revocation or other actions under the deed
6. Appendix 2 - Execution Requirements: Detailed requirements for proper execution in the relevant jurisdiction
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