47-09 Title by Transfer - General Provisions - North Dakota Statutes

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CHAPTER 47-09TITLE BY TRANSFER - GENERAL PROVISIONS47-09-01. Transfer defined. Transfer is an act of the parties or of the law by which thetitle to property is conveyed from one living person to another.47-09-02.What may be transferred - Exceptions.Property of any kind may betransferred except:1.A mere possibility not coupled with an interest.2.A mere right of reentry or of repossession for breach of a condition subsequent
which cannot be transferred to anyone except the owner of the property affected
thereby.47-09-03.Voluntary transfer defined - Consideration unnecessary.A voluntarytransfer is an executed contract, subject to all rules of law concerning contracts in general except
that a consideration is not necessary to its validity.47-09-04. Transfer - How made. A transfer may be made without writing in every casein which a writing is not required expressly by statute.47-09-05. Names of transfers by writing. A transfer in writing is called a grant, orconveyance, or bill of sale. The term "grant" in this title includes all these instruments unless it is
specially applied to real property.47-09-06. Delivery of written transfer - Requirement - Presumption from execution.A grant takes effect so as to vest the interest intended to be transferred only upon its delivery by
the grantor and is presumed to have been delivered at its date.47-09-07. Delivery must be absolute - Conditional delivery ineffective, becomesabsolute. A grant cannot be delivered to the grantee conditionally. Delivery to the grantee or to
the grantee's agent as such is necessarily absolute and the instrument takes effect thereupon,
discharged of any condition on which the delivery was made.47-09-08. Delivery in escrow. A grant may be deposited by the grantor with a thirdperson to be delivered on the performance of a condition, and on delivery by the depositary it will
take effect. While in the possession of the third person and subject to condition, it is called an
escrow.47-09-09.Constructive delivery.Though a grant is not actually delivered into thepossession of the grantee, it is yet to be deemed constructively delivered in the following cases:1.When, by the agreement of the parties, the instrument is understood to be delivered
at the time of execution and the circumstances are such that the grantee is entitled
to immediate delivery; or2.When it is delivered to a stranger for the benefit of a grantee and the grantee's
assent is shown or may be presumed.47-09-10. Redelivery does not retransfer. Redelivering a grant of real property to thegrantor, or canceling it, does not operate to retransfer the title.47-09-11.Interpretation of grants.Grants shall be interpreted in like manner withcontracts in general except so far as is otherwise provided by this chapter. If the operative words
of a grant are doubtful, recourse may be had to its recitals to assist the construction, and if
several parts of a grant are absolutely irreconcilable, the former part shall prevail. A clear and
distinct limitation in a grant is not controlled by other words less clear and distinct.Page No. 147-09-12. Interpretation of descriptive words. If any instrument relating to real orpersonal property shall be executed by or to any person as trustee, guardian, executor,
administrator, or in any other representative capacity, and shall fail to identify clearly the
beneficiary by name and the nature of the trust, the qualifying words in such instrument shall be
treated as surplusage and as description only of the person by whom or to whom the instrument
was executed.47-09-13. Grant shall be interpreted in favor of grantee - Exceptions. A grant shallbe interpreted in favor of the grantee, except that a reservation in any grant, and every grant by a
public officer or body, as such, to a private party, is to be interpreted in favor of the grantor.47-09-14. Without issue defined. When a future interest is limited by a grant to takeeffect on the death of any person without heirs, or heirs of the person's body, without issue, or in
equivalent words, such words must be taken to mean successors or issue living at the death of
the person named as ancestor.47-09-15.Words of inheritance or succession unnecessary to fee.Words ofinheritance or succession shall not be requisite to transfer a fee in real property.47-09-16. Transfer vests actual title - Thing includes incidents. A transfer vests inthe transferee all the actual title to the thing transferred which the transferor then has unless a
different intention is expressed or is necessarily implied. It also transfers all its incidents unless
expressly excepted, but the transfer of an incident to a thing does not transfer the thing itself.47-09-17.Present interest and benefit - When taken.A present interest and thebenefit of a condition or covenant respecting property may be taken by any natural person under
a grant although not named a party thereto.Page No. 2Document Outlinechapter 47-09 title by transfer - general provisions