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Source Recording Acts Complete Real Property List Matched to this deck.

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0 tracked cards Real Property

Owner signed a deed conveying Warehouse to Buyer and handed the deed to Escrow Agent with written instructions to deliver it to Buyer if Buyer paid the full price by June 1. Owner retained no right to recall the deed. Owner died on May 15. Buyer paid the full price on May 25, and Escrow Agent delivered the deed to Buyer.
Which statement is most accurate?

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The deed is effective when Buyer timely pays because Owner made a valid escrow delivery by relinquishing control to Escrow Agent with present intent. The deed is effective immediately on signing even if Buyer never pays. The deed is ineffective because Owner died before Buyer paid the price. The deed is ineffective because a deed can never be delivered to a third person.

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