Which document is commonly used to transfer ownership of real estate?

The title deed is the document commonly used to transfer ownership of real estate. It serves as the legal evidence of ownership, showing the right of the holder to the property. When a property is sold, the current owner (the grantor) prepares the deed to formally transfer ownership to the new owner (the grantee). The deed must typically be signed, witnessed, and recorded with the appropriate governmental office to ensure that the transfer is public and legally binding.

In contrast, a lease agreement is a contract between a landlord and tenant, granting the tenant the right to use the property for a specified period, but it does not transfer ownership. A purchase order is a commercial document that indicates a buyer’s intention to purchase goods or services but is not used in real estate transactions to transfer property ownership. A mortgage contract, while important in financing a property purchase, is a secured loan document that allows a lender to claim the property if the borrower defaults; it does not serve to transfer ownership itself. Thus, the title deed is the key document for transferring real estate ownership.