What does the term 'deed' refer to?

The term 'deed' refers specifically to a legal document that is critical in real estate transactions as it serves the purpose of conveying ownership of real property from one party to another. When a deed is executed, it signifies that the seller (grantor) transfers their rights and interests in the property to the buyer (grantee). This document typically includes essential details such as the names of the parties involved, a description of the property, and the signature of the grantor.

This definition is central to property law, as it establishes legal ownership and is necessary for ensuring that the transfer is recognized by the state and other parties. Additionally, deeds must be properly recorded in public land records in order to provide notice to the public of the ownership change.

In contrast, other options represent different aspects of real estate transactions and processes. A rental contract pertains to leasing property, an appraisal form is used to determine the value of a property, and a foreclosure notice deals with the legal process of seizing property due to non-payment of a mortgage. None of these relate to the transfer of ownership, which is the primary function of a deed.