Deed
Real Estate
The legal document transferring ownership or title to a property
The legal document that transfers the ownership of real property from one party to another.
A document that legally transfers ownership of property from one person to another. The deed is recorded on public record with the property description and the owner's signature. Also known as the title.
Personal Finance
A deed is a written document that transfers ownership of land or other real estate from the owner, also known as the grantor, to the buyer, or grantee.
The form a deed takes varies from place to place, but the overall structure and the provisions it contains are the same. The description of the property being transferred is always included.
When you use a mortgage to purchase the property that's being transferred by deed, you may receive the deed at the time of purchase, with the lender holding a lien on the property. Or the deed may belong to the lender until you have paid off the mortgage.
In either case, a deed's creation must be witnessed and should be recorded with the appropriate local authority to ensure its validity.
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Consumer Credit
The legal document that is used to transfer the title from one owner to another.
- — Consumer Credit Protection Glossary retrieved 2014-05-16
Business› Finance› Personal Finance
Mortgage
a document that legally transfers ownership of property from one person to another. The deed is recorded on public record with the property description and the owner's signature. Also known as the title.
- — Making Home Affordable Glossary retrieved 2014-05-16