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A deed is a legal document that evidences the transfer of property ownership rights in real estate, typically containing the signatures of the parties involved, the transaction date, and a description of the property. There are various types of deeds, but this discussion focuses on two: the general warranty deed and the special warranty deed. A warranty deed assures the grantee that the grantor legally owns the property and has the right to sell it. While recording a warranty deed is not mandatory, if it is recorded, the document must be acknowledged.