Page:United States Statutes at Large Volume 47 Part 1.djvu/1186

 1162 Ante, p .1161. Delivery necessary. Post, p.1197. Int erpr etat ion of grants. Post, p . 1199. 72d CONGRESS. SESS. II. CH. 128. FE BRU ARY 27, 1933 . CR OSS REF ERE NCES Construction of grants, see section 273 et seq. Trasfer,' see sections 259 and 260. SEC. 268. DELIVERY NECESSARY .--A grant takes effect, so as to ve st the i nterest intended to be transferr ed, only upon its delivery by the grantor. CROSS REFERENCES Constructive delivery, see section 272 . Contract in writing takes effect only from delivery, see section 543. Date ofdelivery. SEC. 269 . DATE. -A grant du ly executed is presumed to have bee n delivered at its date. n Absolute delivery ,SEC. 270 . DELIVERY TO GRANTEE IS NECESSARILY ARSOLUTE .-A grant can not be delivered to the grantee conditionally. Delivery to him, or to his ag ent as such, is necessarily absolute, and the instrument takes effect thereupon, discharged of any condition on which the delivery was made. Delivery in es ow. SEC. 271. DELIVERY IN ESCROW.-A gra nt may be deposited by the grantor with a third person, to be delivered on performance of a condition, and, on delivery by the deposit ary, it will tak e effect. While in the possession of the third person, and subject to c ondition, it is called an escrow. Constructive dally. SEC. 272. CONSTRUCTIVE DELIVERY .-Though a gra nt be not a ctua lly Cry ' delivered into the possession of the grantee, it is yet to be deemed con stru ctiv ely del iver ed in the fo llow ing cas es 1. Where the instrument is, by the agreement of the parties at the tim e of exe cuti on, und erst ood to be de liv ered , and un der such ci rcum - stances tha t the gr an tee is entitled to immediate delivery 2 . Where it is delivered to a stranger for the benefit of the grantee, and his assent is shown, or may be presumed. INTE RPR ETAT ION OF GRANTS SEC. 273. GRANTS, HOW INTERPRETED.-Grants are to be interpreted in like manner with contracts in general, except so far as otherwise provided in th is subchapter. CROSS REFERENCES Post, pp . 1197,1198. Interpretation of contracts, see sections 546, 547, and 552 . Ante, p. 1161. Word "grant" includes bill of sale, see section 267. Limitations, how S EC. 274 . LIMITATIONS, HOW CONTROLLED .-A clear and distinct controlled. limi tati on in a gra nt is not co ntr olle d by oth er w ords le ss c lear and distinct. Recitals, resort to. ,SEC. 275 . RECITALS, WR EN RESORTED TO .-If the operativ e words of a grant are doubtful, recour se may be had to its recitals to assist the construction. CROSS REFERENCE Interpretation of doubtful words, see section 565. Interpretation SEC. 276. INTERPRETATION AGAINST GRANTOR .--A grant is to be inter- against grantor. prated in favor to the grantee, except that a reservation in any grant, and every gran t by a public o fficer or body, as such, to a pr ivate to be i nted in fav or of the grantor. sions econc ilabl e Prov i ° pa SC 1277. IRRECONCILABLE PROVISIONS .-If several parts of a grant are absolutely irreconcilable, the former part prevails. i So in original.
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