what. $458. Transfer is an act of the parties, or of the Transfer, law, by which the title to property is conveyed from one living person to another. contract. $459. A voluntary transfer is an executed contract, Transfer a subject to all rules of law concerning contracts in general; except that a consideration is not necessary to its validity.2 'Fletcher v. Peck, 6 Cranch, 136; People v. Platt, 17 Johns., 195; Varick v. Briggs, 22 Wend., 543; see 'This clause was proposed for enactment, in regard to ARTICLE II. WHAT MAY BE TRANSFERRED. SECTION 460. What may be transferred. 461. Possibility. 462. Right of entry. S460. Property of any kind may be transferred, What may except as otherwise provided by this article. See Conderman v. Smith, 41 Barb., 404; Lintuer v. Sny der, 15 id., 621. be transferred. S 461. A mere possibility, not coupled with an Possibility. interest, cannot be transferred. Jackson v. Bradford, 4 Wend., 619; Tooley v. Dibble, 2 entry. S 462. A mere right of re-entry, or of repossession Right of for breach of a condition subsequent, cannot be transferred to any one except the owner of the property affected thereby. Nicoll v. N. Y. & Erie R, R., 12 N. Y, 121; Underhill v. ARTICLE III. When oral. Grant, what. Delivery necessary. Date. Delivery to grantee is absolute. MODE OF TRANSFER. SECTION 463. When oral 464. Grant, what. 465. Delivery necessary. 466. Date. 467. Delivery to grantee is necessarily absolute. 468. Delivery in escrow. 469. Surrendering or canceling grant. 470. Constructive delivery. 471. When voluntary settlement takes effect. $ 463. A transfer may be made without writing, in every case in which a writing is not expressly required by statute. 4 N. Y., 497; 7 Exch, 581. S 464. A transfer in writing is called a grant. S 465. A grant takes effect, so as to vest the interest intended to be transferred, only upon its delivery by the grantor. 1 R. S., 738, § 138. A delivery after the grantor's death is of no effect (Roosevelt v. Carow, 6 Barb., 190; Jackson v. Leek, 12 Wend., 107). S 466. A grant duly executed is presumed to have been delivered at its date. Harris v. Norton, 16 Barb., 264. S 467. A grant cannot be delivered to the grantee necessarily conditionally. Delivery to him' or to his agent as such is necessarily absolute, and the instrument takes effect thereupon, discharged of any condition on which the delivery was made. Delivery in escrow. 1 Braman v. Bingham, 26 N. Y., 483; Worrall v. Munn, 5 N. Y., 229. Where one person is the agent of both parties, delivery to him is not necessarily absolute (Iliff v. Cincinnati, &c., R. R., 13 Ohio St., 235). $468. A grant may be deposited by the grantor with a third person, to be delivered on perform ance of a condition, and, on delivery by the depositary, it will take effect. Clark v. Gifford, 10 Wend., 310. ing or can $469. Redelivering a grant of real property to the Surrendergrantor, or canceling it, does not operate to retransfer the title. Jackson v. Anderson, 4 Wend., 474; Jackson v. Chase, 2 celing grant. tive de $470. Though a grant be not actually delivered Construc into the possession of the grantee, it is yet to be livery. deemed constructively delivered in the following cases: 1. Where the instrument is, by the agreement of the parties at the time of execution, understood to be delivered, and under such circumstances that the grantee is entitled to immediate delivery ;1 or, 2. Where it is delivered to a stranger for the benefit of the grantee, and his assent is shown or may be presumed.❜ 'Scrugham v. Wood, 15 Wend., 545; see Roosevelt v. Carow, 6 Barb., 190. Church v. Gilman, 15 Wend., 656. $471. A grant made as a mere gratuity takes effect upon its execution, even though the grantor retains its possession, unless a contrary intention appears. Souverbye v. Arden, 1 Johns. Ch., 240; Bunn v. Winthrop, 1 id., 329; see Roosevelt v. Carow, 6 Barb., 190. ARTICLE IV. INTERPRETATION OF GRANTS. SECTION 472. Grants, how interpreted. 473. Limitations, how controlled. 474. Recitals, when resorted to. 475. Interpretation against grantor. 476. Irreconcilable provisions. 477. Meaning of "heirs" and "issues" in certain remainders. 478. Words of inheritance, unnecessary. Grants, how interpreted. Limita tions, how controlled. Recitals, when resorted to. Interpreta tion against grantor. Irreconcila ble provisions. Meaning of •heirs and "issue" in certain remainders. Words of inheritance unneces sary. S472. Grants are to be interpreted in like manner with contracts in general, except so far as is otherwise provided by this article. S473. A clear and distinct limitation in a grant is not controlled by other words iess clear and distinct. Nicoll v. N. Y. & Erie R. R. Co., 12 N. Y., 129; Jewett v. Jewett, 16 Barb., 150; see Thornhill v. Hall, 2 Clark & Fin., 22, 36. S 474. If the operative words of a grant are doubtful, recourse may be had to its recitals to assist the construction. Ringer v. M'Cann, 3 M. & W., 343; Bailey v. Lloyd, 5 S 475. A grant is to be interpreted in favor of the grantee,' except that a reservation in any grant, and every grant by a public officer or body, as such, to a private party,3 is to be interpreted in favor of the grantor. S 476. If several parts of a grant are absolutely irreconcilable, the former part prevails. Jewett v. Jewett, 16 Barb., 157. S 477. Where a future interest is limited by a grant to take effect on the death of any person without heirs,' or heirs of his body, or without issue, or in equivalent words; such words must be taken to mean successors or issue living at the death of the person named as ancestor.3 $ 478. Words of inheritance or succession are not requisite to transfer a fee in real property. 1 R. S., 748, § 1. ARTICLE V. EFFECT OF TRANSFER. SECTION 479. What title passes. 480. What interests affected. 481. Incidents. 482. Grant may inure to benefit of stranger. passes. § 479. A transfer vests 'in the transferee all the What title actual title to the thing transferred which the transferrer then has, unless a different intention is expressed or is necessarily implied, and no more," except in the cases specified in sections 480, 499, 1745 and 1773. 'This provision is already enacted with respect to real interests $480. A transfer cannot affect any interest of the what transferrer which he does not own when it is made; affected. but, if it is made with a covenant, neither the transferrer nor any person claiming under him can be permitted to take in contravention of the covenant. Jackson v. Winslow, 9 Cow., 13; Jackson v. Wright, 14 Johns., 194; see Jackson v. Bradford, 4 Wend., 619, 622. S481. The transfer of a thing transfers also all its Incidents incidents' unless expressly excepted; but the transfer of an incident to a thing does not transfer the thing itself." 'Battle v. Coit, 26 N. Y., 404; Lampman v. Milks, 21 Battle v. Coit, 26 N. Y., 404; Kellogg v. Smith, 26 N. |