16. Deeds: Nominal consideration

(May 1, 2000)

Deeds and other instruments of conveyance may be accepted for registration when they recite that they are given “for nominal consideration”, “for no consideration”, “for consideration of [any amount of dollars less than $100]”, “in consideration of love and affection”, “as a gift”, or any other similar words which communicate that the conveyance is made for nominal consideration. Deeds of a Trustee given for nominal consideration must nevertheless comply with Guideline 53: Trusts: Trustee’s Deed for Nominal Consideration.