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A deed is a legal document that transfers property ownership rights in real estate, containing the signatures of the parties involved, the transaction date, and a property description. Warranty deeds assure the buyer that the seller has legal title to the property and the right to sell it. There are different types of deeds, with today's focus on general warranty deeds and special warranty deeds. Recording is not required for a warranty deed, but if done, the document must be acknowledged.