exception in deed
Exception in deed is a reservation of a property interest in the deed for the transferor. The transferor is explicitly keeping some part of the property being given to the transferee such as an easement or a life estate. For example, a property owner could sell a lot next to their house with the exception of an easement allowing them to use the driveway on the lot after the sale to access a highway.
[Last reviewed in July of 2021 by the Wex Definitions Team]
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