A deed must identify the seller (grantor) and buyer (grantee).
Deeds can be described as contract-like as they require the mutual agreement of more than one person. Deeds can therefore be distinguished from covenants, which, being also under seal, are unilateral promises. However, a deed differs from a simple contract in that it is enforceable without consideration, in some jurisdictions has a liability limitation period of double that of a contract, and allows for a third party beneficiary to enforce an undertaking in the deed, thereby overcoming the doctrine of privity. In its narrowest sense, a deed is any formal document that confirms or transfers interest or right of ownership (title) to an asset from one person to another, often using a description of it metes and bounds, e.g.,conveyances, transfers, mortgages, charges, or leases; these are known as deeds of title (title-deeds).
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