====== Deed (Real Estate) ======

A **deed** is a **written legal instrument** used to **transfer ownership (title)** of real property from one party to another.

===== Key Characteristics =====
  * Transfers **title**, not possession
  * Identifies the **grantor** (seller) and **grantee** (buyer)
  * Contains a **legal description** of the property
  * Must be **signed by the grantor**
  * Must be **delivered and accepted** to be valid
  * **Recording** provides public notice but is **not required** for validity between the parties

===== Common Deed Types (California) =====
  * **Grant Deed**
    * Implies the grantor has not previously conveyed the property
    * Implies no undisclosed [[encumbrances]] during ownership

  * **Quitclaim Deed**
    * Conveys whatever interest the grantor has (if any)
    * **No warranties**

  * **Warranty Deed**
    * Provides the **highest level of buyer protection**
    * Rarely used in California

===== Important Distinction =====
  * **Deed** → transfers ownership (title)
  * **Mortgage / Deed of Trust** → creates a [[lien]], not ownership