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Deed |
Also found in: Dictionary/thesaurus, Legal, Acronyms, Idioms, Encyclopedia, Wikipedia, Hutchinson | 0.07 sec. |
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Deed. A deed is a written document that transfers ownership of land or other real estate from the owner, also known as the grantor, to the buyer, or grantee. The form a deed takes varies from place to place, but the overall structure and the provisions it contains are the same. The description of the property being transferred is always included. When you use a mortgage to purchase the property that's being transferred by deed, you may receive the deed at the time of purchase, with the lender holding a lien on the property. Or the deed may belong to the lender until you have paid off the mortgage. In either case, a deed's creation must be witnessed and should be recorded with the appropriate local authority to ensure its validity. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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