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A deed is a legal document that serves as evidence of property ownership transfer in real estate, containing the signatures of the parties involved, transaction date, and property description. Key types of deeds include the general warranty deed and the special warranty deed. A warranty deed guarantees the grantee that the grantor legally owns the property and has the right to sell it. While recording is not necessary for a warranty deed, if recorded, the document must be acknowledged. Understanding these elements is crucial for real estate exams and transactions.