Final answer:
To convey merchantable title via a deed, essential elements like the legal description of the property and the grantor's signature are needed, along with possibly the acknowledgment by a notary public. However, a statement of property tax assessment is not required in a deed for it to be considered valid.
Step-by-step explanation:
A grantee seeking to obtain merchantable title via a valid deed should ensure that the deed includes all necessary legal elements to be considered valid and enforceable. However, not all elements listed are required for the deed to convey merchantable title. Specifically:
- Option 1: Legal Description of the Property is essential as it accurately describes the boundaries and location of the property being conveyed.
- Option 2: Grantor's Signature is a legal requirement for the deed to be effective as it indicates the grantor's intention to transfer the property.
- Option 3: Acknowledgment by a Notary Public may be necessary to record the deed but is not always required for the deed itself to convey merchantable title. The notary's acknowledgment ensures that the grantor's signature is authentic and voluntarily made.
- Option 4: Statement of Property Tax Assessment is not a necessary element of a deed. While knowing the property's tax assessment may be valuable for financial considerations, it is not required to make a deed legally valid.
Hence, the property tax assessment statement (Option 4) is the element that is NOT necessary for a deed to convey merchantable title.