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A deed is a signed legal document that transfers ownership of an asset to a new owner. Deeds are most commonly used to transfer ownership of property or vehicles between two parties. The purpose of a deed is to transfer a title, the legal ownership of a property or asset, from one person or company to another.

Deed is defined as a document of ownership. An example of a deed is a contract to state ownership of land.

A transfer of rights contract allows you to transfer your contractual rights and responsibilities to another party. Transferring contract rights can happen either through assignment or delegation.

There are various modes of transferring ownership of property: permanently by 1) relinquishment 2) sale 3) gift; and temporarily by way of 4) mortgage 5) lease and, 6) leave and license agreement.

When committing to a general warranty deed, the seller is promising there are no liens against the property, and if there were, the seller would compensate the buyer for those claims. Mainly for this reason, general warranty deeds are the most commonly used type of deed in real estate sales.

Recording or Filing Place ? Generally, deeds should be recorded in the county in which the real estate is located. Although generally a deed does not have to be recorded to be a valid conveyance, there are practical reasons for recording a deed.

Several easy-to-follow steps are required to create a Virginia deed: Locate the most recent deed to the property.Create the new deed.Sign and notarize the new deed.Record the deed in the land records of the clerk's office of the circuit court in the jurisdiction where the property is located.