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Love & Affection


The title to most of the houses we have financed has been transferred by a warranty deed which transfers the title from the seller to the buyer. Most of these warranty deeds do not show the actual sale price but state that the consideration is “Ten dollars and other valuable consideration” or some similar language.


Many years ago, we financed a house for a young man, and his grandmother gifted the property to him. When he came to sign the loan papers, he brought along her deed to him, which stated the consideration be “love and affection…” well, I had never seen this before, so I called Mr. Art Reppert at Clay County Abstract and Title Company to see if this was OK. I will never forget his exact words: “Bernard, send it over; it will record.” Mr. Reppert explained that this had been pretty popular back in the 1970s for gifts, but the language wasn’t used much anymore.


If you are lucky enough to still have a grandmother, give her some “love & affection.”



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