Deed
The signed legal document that transfers ownership from the seller to the buyer. It is recorded with the county after closing to make the transfer part of the public record.
Also called: property deed, deed of conveyance, grant deed
Related terms
A deed in which the seller promises they own the property and that the title is free of undisclosed claims. A general warranty covers all past owners; a special warranty covers only the seller's time of ownership.
A deed that transfers whatever interest the signer has, if any, with no promise that the title is good. It is common between family members, in divorces or to fix title errors, not in typical sales.
Filing a deed, mortgage or other document with the county so it becomes public record. Recording gives notice of the new owner or lien and protects the buyer's claim against later ones.
The legal right to own and use a property. Title is not a single document; it is shown by the deed and public records, and must be clear for a sale to close smoothly.
A document used in many states instead of a mortgage, where a neutral trustee holds title as security for the loan until it is paid. It usually allows non-judicial foreclosure, which is faster than going to court.