Mortgage Glossary
Deed
The legal document that officially transfers ownership of a property from seller to buyer.
What It Means
A deed is the official legal document that records a transfer of real estate ownership. When you close on a home, the seller signs a deed transferring ownership to you.
Common types:
- Warranty Deed: Seller guarantees they have clear title and the right to sell (most common in standard purchases)
- Quitclaim Deed: Transfers whatever interest the grantor has, with no guarantees (used in family transfers or divorces)
The deed is recorded with the county and becomes part of the permanent public record of the property's ownership history — called the chain of title.
Don't confuse a deed with a title — the title is the legal concept of ownership; the deed is the document that proves it.
Real-World Example
"At closing, the seller signs a warranty deed transferring the home to you. The title company records it with the county the same day, making you the official legal owner."
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Definitions are for educational purposes only and do not constitute financial or legal advice.