When land is first registered, one-tenth of one per cent, of its value must be paid to the registrar, to provide an indemnity fund, out of which the county is to reimburse any person sustaining "damage through any omission, mistake, or misfeasance of the registrar." 94

Same - requisites of Deeds

259. For a valid deed or other conveyance of land the following are requisites:

(a) Property to be conveyed (p. 415).

(b) Words of conveyance (p. 416).

(c) A description of the property (p. 419).

(d) A writing, executed by signing, and in some states by sealing (p. 426).

(e) Delivery and acceptance (p. 433).

(f) Acknowledgment, in some states (p. 436).

(g) Witnesses, in some states (p. 439). (h) Registry, in some states (p. 439).

260. Acknowledgment, witnesses, and registry are not, in some states, essential to the validity of a deed, but are necessary to give priority.

By the early common law, feoffments were sufficient to convey title by the mere transfer of possession, but now a writing is required by the statute of frauds for the transfer of any estate,

91 Laws 111. 1895, § 39. 92 Laws 111. 1895, § 40.

93 Laws 111. 1895, §§ 59-82. 94 Laws 111. 1895, §§ 90-93.

§ 261) except, as already seen,95 tenancies for short terms. Conveyances in writing are called deeds. The definition of a deed in real property law is, "a sealed writing conveying real estate." But in those states where seals have been abolished, written instruments which convey real estate are still termed deeds. And hereafter the term deed must be taken to mean, unless otherwise specified, a written instrument conveying the title to lands with or without a seal, according to the local laws. Deeds, however, are to be distinguished from mere agreements to convey lands, which belong to the law of contracts.96 Instruments of conveyance, such as mortgages and leases, are properly included under the term "deed."

261. Property To Be Conveyed-for a valid deed there must be some real property to be conveyed.

In order that a deed may operate, there must be something to be conveyed. What can be conveyed by deed will be seen by referring to the discussion of what is real property, given in our first chapter; and the converse is also true,-that anything which is real property can only be conveyed by deed.97 On the other hand, at common law it was held that a mere possibility of having an estate in land at a future time could not be conveyed,98 but this rule has been somewhat relaxed. For instance, an heir has been permitted to make.a deed of lands which he expected to inherit, and when the title came to him by descent his grantee was given the benefit thereof.99 But the contrary has also been held.100

95 Ante, p. 132.

96 See Clark, Cont. 103.

97 A deed is necessary for the conveyance of an Incorporeal hereditament. Duke of Somerset v. Fogwell, 5 Barn. & C. 875; Bird v. Higginson, 2 Adol. & E. 696; Tottel v. Howell, Noy, 54. And see ante, p. 351. A parol license to a tenant from year to year to quit in the middle of a quarter is bad. Mollett v. Brayne, 2 Camp. 103. A written instrument is, of course, necessary for the conveyance of a freehold interest in lands. Jackson v. Wood, 12 Johns. (N. Y.) 73. But see Neale v. Neale, 9 Wall. 1; Syler v. Eckhart, 1 Bin. (Pa.) 378.

98 Dart v. Dart, 7 Conn. 255.

99 Trull v. Eastman, 3 Mete. (Mass.) 121; Stover v. Eycleshimer, 46 Barb. (N. Y.) 84.

100 Davis v. Hayden, 9 Mass. 519. The conveyance of an expectancy can262. Words Of Conveyance-a valid deed must contain sufficient words of conveyance to transfer an estate in the land from the grantor to the grantee. This will be treated under the following heads:

(a) Names of parties (p. 416).

(b) Granting clause (p. 417).

(c) Exceptions (p. 417).

(d) Reservations (p. 418).

(e) Habendum (p. 418).