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deed definition
1) n. the written document which transfers title (ownership) or an interest in real
property to another person. The deed must describe the real property, name the party
transferring the property (grantor), the party receiving the property (grantee)
and be signed by the grantor, who must then acknowledge before a notary public that
he/she/it executed the deed. To complete the transfer (conveyance) the deed must
be recorded in the office of the County Recorder or Recorder of Deeds. There are
two basic types of deeds a warranty deed, which guarantees that the grantor owns
title, and the quitclaim deed, which transfers only that interest in the real property
which the grantor actually has. The quitclaim is often used among family members
or from one joint owner to the other when there is little question about existing
ownership, or just to clear the title. This is not to be confused with a deed of
trust, which is a form of mortgage. 2) v. to transfer title by a written deed.
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