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A deed is a legal document that transfers property ownership rights in real estate, containing the signature of the person transferring the property, the transaction date, names of parties, and property description. There are different types of deeds, with a focus on general warranty and special warranty deeds. A warranty deed guarantees the grantor has legal title to the property, promising the buyer ownership rights. Recording is not required for a warranty deed, but if done, the document must be acknowledged.