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The video tutorial discusses the concept of deeds, focusing on their purpose of transferring ownership, also known as conveyance of title. Essential elements required in a deed for it to be legal and valid are highlighted, as well as the importance of recording the deed. Deeds serve as a means of officially transferring ownership rights in real estate. The terms "deed" and "conveyance of title" are used interchangeably in real estate transactions, with their meanings being the same.