A deed is a legal document that represents the ownership of a property or an asset. It serves as proof that a person or entity has the right to use, sell, or transfer that property. Deeds are commonly used in real estate transactions to ensure that ownership is clearly defined and recorded. There are different types of deeds, such as warranty deeds and quitclaim deeds, each serving specific purposes. A warranty deed guarantees that the seller has clear title to the property, while a quitclaim deed transfers whatever interest the seller has without any guarantees. Understanding these distinctions is important for anyone involved in property transactions.