The statement of the consideration (that which is given to the seller in return for the deed), comes next. There are several classes of considerations and since each may differently affect the title conveyed, and the rights of the purchaser, an examination of each is helpful. For general purposes considerations are divided into three classes: good, valuable and illegal. Good considerations and valuable considerations give to the purchaser very different rights and must therefore not be confused. A valuable consideration is the giving by the purchaser at the time of delivery of the deed of money or money's worth. It need not be exactly equal to the value of the property but should bear some fair relation to the property's value, and be of some present value. The usual commercial sale of realty for cash, or in exchange at a fair price, exemplifies a valuable consideration. A good consideration on the other hand is one not measurable in terms of money or money's worth or not passing at the time of the sale. For example: A gives his son B his farm by reason of natural love and affection. This consideration is not measurable in terms of money. Or A, who has been for several years indebted to B in the sum of $5,000 gives B a deed of his farm upon B cancelling the indebtedness. In this instance the consideration is not a present transfer of value between the parties.

The distinction between these two classes of consideration will be readily understood by bearing in mind the principle, that, equitably, a man is trustee of his property for the benefit of his creditors. If he has no debts, or will be left even after the conveyance, with ample property to pay his debts, he may give away his property or sell it for any price and no one may object. But if he has creditors he is not permitted even unintentionally to cheat them by disposing of his property without substituting in its place something of value received for it. A good consideration is sufficient as between seller and purchaser to support a deed, but is in fraud, possibly unintended, of creditors of the seller and they may be able to set the deed aside. A deed delivered for a valuable consideration, on the contrary, leaving in the seller's hands something of value, is good as against the world. The creditors are in just as good a position as before the conveyance: Simply one form of asset has been substituted for another. Courts are very jealous of the rights of creditors; one of them may not secure an unfair preference over the others. It is for that reason that the deed to the creditor B (above) would be set aside. He should not receive any special advantage. So also if the seller has debts, careful scrutiny should be given any sale where the price is far less than the property's value. A court at the instance of creditors may set aside the deed, if convinced that the debtor has parted with his property for an inadequate consideration.

An illegal consideration may be defined as anything which the law prohibits. It really is a misnomer, since being illegal it is in the eyes of the law not a consideration. If the purchaser, for example, promise in return for the deed that he will conduct a saloon in the premises conveyed, the consideration is illegal and the deed void.