medium · National Real Estate Exam transfer-title
A deed contains a recital of 'ten dollars and other good and valuable consideration.' This statement is usually:
- Evidence that the transaction is a gift and not a sale.
- Invalid because 'good and valuable' is too vague for a contract.
- Insufficient because the actual sale price must be disclosed for tax purposes.
- Sufficient to satisfy the legal requirement for a recital of consideration.
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