A mortgage deed is the document that creates a mortgage and grants an ownership interest (lien) to the lender (often a bank) until the loan is paid in full. A mortgage deed usually must include:

• the name of the mortgagor (the borrower);

• words of grant or conveyance in which the mortgagor (borrower) grants or conveys real property to the lender or mortgagee;

• the name of the mortgagee;

• a property description sufficient to identify the mortgaged real property;

• the mortgagor’s signature; and

• an acknowledgment in which a notary public signs and officially stamps the mortgage deed to verify the identity of the person signing the deed and for the mortgagor to declare or acknowledge to the notary that the mortgagor signed the deed willingly and voluntarily and was not coerced into signing it.

And in some states a deed must be delivered to be effective. Delivery of a deed generally includes:

• the grantor’s (mortgagor or borrower) intent to convey title to the property to the grantee (mortgagee or lender)—not just the physical handing over of the deed; and

• the grantee’s (mortgagee or lender) acceptance of the deed as an immediate conveyance of the title to the real property.

Laws vary from state to state and the legal requirements for a valid mortgage deed may be located in a state's court opinions (common law or case law) or in its statutes.

In Rhode Island, a mortgage deed is a legal document that secures the interest of the lender in the property until the borrower repays the loan. The essential elements that must be included in a mortgage deed are the borrower's name, words of grant or conveyance, the lender's name, a sufficient property description, the borrower's signature, and an acknowledgment by a notary public. The notary's acknowledgment is crucial as it confirms the identity of the signing party and that the signing was done willingly. Rhode Island law also requires that for a mortgage deed to be effective, there must be delivery, which involves the borrower's intent to convey the property title and the lender's acceptance of the deed. These requirements ensure the legal enforceability of the mortgage deed. It's important to note that while these are the general requirements, specific details may vary, and it is advisable to consult with an attorney for transactions involving mortgage deeds to ensure compliance with all applicable Rhode Island laws and regulations.