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A deed is a legal document used to transfer property ownership rights in real estate, containing the signatures of the parties involved, a description of the property, and the date of the transaction. There are different types of deeds, including 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 done, the document must be acknowledged.