Deed: A deed is a legal document that transfers ownership of real property from one party (the grantor) to another (the grantee).
As a homeowner, you will most directly encounter the deed at closing, when the seller signs it over to you and the document is recorded with your local county or municipal office. Recording the deed creates a public record of your ownership, which is a critical step that is typically handled by a title company or closing attorney. The specific type of deed used in your transaction matters. A warranty deed, for example, includes certain guarantees from the seller about the title’s history, while a quitclaim deed offers little to no such protection. Your deed will also describe the property boundaries, so it is worth keeping a copy in a safe place for future reference. Recording fees and related closing costs vary by location and can generally range from a modest flat fee to amounts based on the property’s value. Consult a real estate attorney or title professional for guidance specific to your situation. HomeRule is not a legal advisor and this entry is for general educational purposes only.
Watch for: Always verify that your name is spelled correctly on the deed before closing is finalized. Errors in the grantee’s name can complicate future sales or refinancing and may require a corrective deed, which typically involves additional fees and paperwork.
See also: Title Insurance, Closing Costs, Title Search