Deed

What it means

A deed is a legal document that transfers ownership of a property from one person to another. When a house is sold, the seller signs a deed transferring ownership to the buyer. The deed is then recorded at the county clerk's office, which makes it a public record. In New York, the most common types are a warranty deed (the seller guarantees there are no hidden problems with the title) and a quitclaim deed (the seller transfers whatever interest they have, with no guarantees). Deeds are also used to transfer property between family members, add a spouse to the title, or transfer property into a trust.

When you might hear this

You hear this when buying or selling a house. The deed is the legal document that proves who owns the property. It is signed at the closing and recorded with the county clerk.

What to ask