What is a statutory deed?

A statutory deed is one whose format and requirements are explicitly defined by state law. This means that the deed must adhere to specific legal standards and formats established by legislation, ensuring that it complies with local regulations and is recognized as valid. Statutory deeds are important in real estate transactions because they provide clarity and legal certainty regarding property rights. They typically include essential elements such as the names of the parties, a description of the property, and the signature of the grantor, all laid out in a manner stipulated by law.

The other options do not accurately define a statutory deed. While notarization can be a requirement for many types of deeds, it is not a defining characteristic of a statutory deed itself. Furthermore, statutory deeds are not limited exclusively to commercial transactions; they can also pertain to residential properties. Lastly, while some deeds may involve judicial review in specific circumstances, this is not a requirement or characteristic of statutory deeds in general.