What is the legal instrument that an owner uses to transfer title to real estate voluntarily to another party?

The legal instrument utilized by an owner to transfer title to real estate voluntarily to another party is known as a deed. A deed is a formal document that is executed to convey ownership of property from one party to another, and it must typically be signed by the grantor (the person transferring the property) and may require witnessing and notarization, depending on local laws.

A deed serves as proof of the transfer of title and includes crucial information such as the names of the parties involved, a description of the property, and the intent to convey the property. This document becomes part of the public record once it is filed with the appropriate government office, providing legal notice of the transfer of title to the property.

Understanding the specific functions of other documents can clarify why they are not correct for this context. A will, for example, is used to distribute a person's property after their death and does not effect a voluntary transfer during a person's lifetime. An agreement is a broader term that encompasses various types of arrangements between parties but does not specifically pertain to the transfer of real estate title. A contract may be involved in the sale of real estate, such as a purchase agreement, but it does not itself transfer ownership; rather, it outlines the terms of an agreement