What does this confusing percent breakdown mean in this deed?

Ownership and Title
1

I’m looking through some deeds for an estate and I can’t figure out this one. I think there’s a few typos or incorrect percent notations in this interest breakdown:

“one-sixth (1/6) of forty percent (40%) of 3.125% percent or .0020833%”

Why do they say “3.125% percent”? Or should it have been “3.125%” or “3.125 percent”. What does it mean when there’s both the “%” symbol and “percent” (3.125 percent percent?)

And is the interest percentage .0020833% or .20833%? If it’s ‘.0020833%’, then that would mean a ‘.000020833’ fractional interest.

I would think the calculation should be:

(.4 * .03125)/6 = .0020833

That .0020833 fraction would be equivalent to .20833%.

Were there math errors in how this was written or is this normal nomenclature?

2

Your math is correct. This may simply be a typo. If this is causing a problem, you should get a title attorney to file a curative memo.

1 Like
3

The typo is 3.125% percent, they shouldnt have added percent. But its rather straight forward, 3.1235% is the interest conveyed = 0.03125 x 0.40 (40 percent) / 6 (1/6)= 0.0020833 aka 0.20833%. 0.20833= 20.833%. You definitely dont need a title attorney to file a curative memo.

4

Yes, there are some typos and incorrect percent notations in the interest breakdown you provided.

  • “3.125% percent” should be “3.125 percent” or simply “3.125%”.
  • “one-sixth (1/6) of forty percent (40%) of 3.125% percent or .0020833%” should be “one-sixth (1/6) of forty percent (40%) of 3.125 percent, or 0.0020833%”.

The word “percent” means “out of one hundred”, so it is redundant to say “3.125% percent”. It is also incorrect to use both the % symbol and the word “percent” in the same notation.

The correct calculation for the interest percentage is:

(.4 * .03125) / 6 = .0020833

This is equivalent to 0.20833%.

Therefore, the interest percentage should be written as 0.20833%, not .0020833%.

It is possible that the person who wrote the deed was simply making a careless mistake. However, it is also possible that they were not familiar with the correct nomenclature for percentages.

5

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