What is a "deed" in real estate?

A deed is fundamentally recognized in real estate as a legal document that transfers ownership of property from one party to another. This legal instrument serves as proof of the transfer of title and is a crucial component of property transactions. When a deed is executed, it involves the signatures of the parties involved, and depending on the jurisdiction, it may need to be notarized or recorded with a government entity to affect the transfer officially.

The essence of a deed is that it conveys rights and obligations associated with property ownership, making it an essential part of real estate law. In contrast, the other choices do not accurately describe what a deed represents: a tax document relates to financial obligations rather than ownership; a list of property features pertains to descriptions and marketing rather than legal ownership transfer; and a temporary rental agreement signifies a lease rather than ownership rights. This distinction is critical in understanding the role of deeds in real estate transactions.