What is a deed in the context of real estate?

What is a deed in the context of real estate?

• A. An agreement to lease a property
• B. An instrument effecting a transfer of real estate
• C. A legal document outlining the terms of a mortgage
• D. A resolution of a property dispute

Answer: (B)

A deed, in the context of real estate, is a legal document that serves as the official instrument for transferring ownership of property from one party to another. It signifies the intent of the grantor (the person transferring the property) to convey their interest in the real estate to the grantee (the person receiving the property). The deed contains essential information, such as a description of the property, the names of the parties involved, and any relevant terms of the transfer. This definition distinguishes a deed from other legal instruments related to real estate. For instance, an agreement to lease a property involves a temporary arrangement for use rather than a transfer of ownership, which is a key feature of a deed. Similarly, a legal document outlining the terms of a mortgage pertains to financing the purchase of a property but does not affect ownership directly. Lastly, a resolution of a property dispute addresses conflicts regarding property rights or boundaries, rather than the transfer of ownership itself, which is the primary function of a deed.

A deed, in the context of real estate, is a legal document that serves as the official instrument for transferring ownership of property from one party to another. It signifies the intent of the grantor (the person transferring the property) to convey their interest in the real estate to the grantee (the person receiving the property). The deed contains essential information, such as a description of the property, the names of the parties involved, and any relevant terms of the transfer.

This definition distinguishes a deed from other legal instruments related to real estate. For instance, an agreement to lease a property involves a temporary arrangement for use rather than a transfer of ownership, which is a key feature of a deed. Similarly, a legal document outlining the terms of a mortgage pertains to financing the purchase of a property but does not affect ownership directly. Lastly, a resolution of a property dispute addresses conflicts regarding property rights or boundaries, rather than the transfer of ownership itself, which is the primary function of a deed.