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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 date of the transaction, names of the parties involved, and a description of the property. There are different types of deeds, including general warranty deeds and special warranty deeds. A warranty deed gives the grantee a guarantee that the grantor has legal title to the property and the right to sell it. Recording is not required for a warranty deed, but if done, the document must be acknowledged.