What section of a deed typically names the parties involved and includes the date and consideration?

The section of a deed that typically names the parties involved and includes the date and consideration is known as the premises section. This section serves as the introductory part of the deed where essential details such as the grantor (the party transferring the property) and grantee (the party receiving the property) are specified. It also outlines the date of execution and indicates the consideration—essentially the value exchanged for the property—making it a crucial component that establishes the context of the transaction.

By naming the parties and addressing the exchange involved, the premises section provides the fundamental details necessary for the deed to be legally effective and enforceable. This clarity is vital for ensuring that all parties involved understand the specific terms and that the transaction is well-documented for future reference.

Other sections, such as the habendum (which describes what rights are conveyed with the property), signatures section (which includes the signatures of the parties acknowledging the deed), and exhibit section (often used for additional documentation or descriptions related to the property), do not serve the same purpose of introducing and outlining the specifics of the transaction.