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A deed is a legal document that transfers property ownership rights in real estate, and it contains the signatures of the parties involved, the date of the transaction, and a description of the property being transferred. There are different types of deeds, but the focus here is on general warranty deeds and special warranty deeds. A warranty deed guarantees that the seller has legal title to the property and the right to sell it to the buyer. Recording is not required for a warranty deed, but if recorded, the document must be acknowledged.