What does the term "deed" refer to in real estate?

The term "deed" in real estate refers to a legal document that serves as evidence of the transfer of ownership of real property from one party to another. When a deed is executed, it signifies the finalization of a property sale, and it includes important information such as the identities of the parties involved, a description of the property, and any conditions or restrictions associated with the transfer.

A deed must be properly executed and often needs to be recorded in public records to provide legal proof of ownership. Its primary function is to convey legal title and provide the new owner (grantee) with rights to the property as specified in the deed. This understanding of a deed’s role is fundamental in real estate transactions, making it a crucial document for establishing property ownership.

The other options relate to different aspects of real estate but do not accurately define what a deed is. The contract between landlords and tenants pertains to rental agreements, land development plans describe how land can be developed, and financial statements deal with property valuation, none of which capture the essence of a deed.