156 The Farmer's Business Handbook 



n. DEEDS 



Probably by far the most important document 

 in ordinary business transactions is the deed by 

 which one acquires title to his home or his farm. 

 The only ways to acquire real estate are by deed, 

 by will, by descent, or by act of law. There are 

 certain deeds that may be acquired by process 

 of the court. Such deeds should always be sub- 

 mitted to the family lawyer, in order that he 

 may determine whether due process of law has 

 been had. 



The most common deeds of real property are 

 the warranty deed, so called, and the full cove- 

 nant deed. The former warrants to defend the 

 title to the property against all comers, and is 

 ordinarily sufficient. It differs from the full cove- 

 nant deed, however, in this that, in order to 

 recover from the grantor or maker, it is necessary 

 to show an actual ouster (by some one claiming 

 title) , while the full covenant deed gives the right 

 to proceed against the grantor the moment any 

 flaw in the title appears. A warranty deed, in 

 other words, necessitates a defense of title, rely- 

 ing upon the warrantor in case of defeat in the 

 courts of law or otherwise. A full covenant deed, 

 on the other hand, places the purchaser in posi- 

 tion to proceed against the grantor the moment 

 his title is assailed by a valid claim. It goes 



