Real Estate Term
Deed
A legal document that transfers ownership of real property from one party to another.
What is Deed?
A deed is the legal document that transfers ownership of real property from one party to another and records who holds title. It is signed and registered at closing, making the buyer the new legal owner in the public land registry. A lawyer or notary typically reviews and registers the deed to ensure the transfer is valid and free of errors.
Frequently asked questions
Related terms
TitleLegal ownership of a property.ClosingThe final step in a real estate transaction where ownership transfers from seller to buyer.Land Transfer TaxA tax paid to the provincial or municipal government when property ownership changes hands.Title SearchAn examination of public records to confirm a property's legal ownership and identify any claims.
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