Deed

Definition

• A document that provides title to property and is filed with a country recorder.

Notes
Used to transfer ownership of assets, often land or automobiles.

Synonyms
title, note, contract, legal document

Acronyms
D

Alternate Spellings
deed of land, title

Related Terms and Acronyms

• Back Title Letter — Definition,
  • A document that a title insurance company gives to an attorney specifying condition of the title.
• Bill of Sale Deed (BSD) — Acronym,
• Certificate of Sale — Definition,
  • An affidavit issued at a judicial or tax sale that entitles the buyer to the deed to the property purchased after court confirmation.
• Certificate of Title — Definition,
  • A written document stating that the title to a piece of property is legally vested in the present owner.
• Chain of Title — Definition,
  • Legal records that trace ownership of a property from the most recent owner to the original owner.
• Claim — Definition,
  • A creditor's assertion of a right to payment from a debtor or the debtor's property.
• Clear Title — Definition,
  • Title not burdened by liens or legal questions.
• Closing — Definition,
  • In real estate, the delivery of a deed, the payment of the purchase price, the signing of notes, and the paying of closing costs, which completes a real estate transaction.
• Cloud on Title — Definition,
  • A claim on title to property that could impair the ability to transfer ownership.
• Contract For Deed (CFD) — Acronym,
  • An agreement for sale of property in which the buyer takes possession while making payments, but the seller holds title until full payment is made. Also called a land contract.
• Covenant — Definition,
  • A promise made in a contract or property deed.
• Deed to Secure Debt (DSD) — Acronym,
• Land — Definition,
  • The solid ground of the earth. This can include everything under it and over it. For example, Condominium Acts do divide land horizontally thereby limiting the vertical ownership.
• Land Contract (LC) — Acronym,
  • An agreement for sale of property in which the buyer takes possession while making payments, but the seller holds title until full payment is made.
• Reconveyance — Definition,
  • The transfer of title to the borrower after a mortgage has been paid fully.
• Title — Definition,
  • Evidence of a person's right to possession ownership of a property.
• Title Search — Definition,
  • A check of public records to make sure that the owner of real property has the right to transfer ownership. A title search is designed to spot gaps in the chain of title, liens, problems with the legal description of the property, judgements against the owner, and the like.