When transferring property, what legal document is typically used?

The legal document typically used when transferring property is a deed. A deed serves as the formal instrument that signifies the transfer of ownership from one party to another. It provides essential details such as the names of the parties involved, a description of the property, and is usually signed by the grantor (the person transferring the property) and may need to be notarized or recorded to be legally effective.

While a bill of sale is primarily used for the transfer of personal property rather than real estate, and a contract might outline the terms of a property sale but does not consummate the transfer itself, a deed is the definitive document that conveys real property title. A lease, on the other hand, grants temporary rights to use a property without transferring ownership, further solidifying the deed's unique role in property transfers.