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A deed is a legal document that serves as evidence of property ownership transfer in real estate. Essential components of a deed include the signatures of the parties involved, the transaction date, and a property description. There are various types of deeds, but this summary focuses on the general warranty deed and the special warranty deed. A warranty deed offers the grantee assurance that the grantor legally owns the property and has the right to sell it. While recording a warranty deed is not mandatory, if recorded, it must be acknowledged.