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| Home | Ask Your Question | Mortgage Glossary | ||
DeedA written document by which title to real property is transferred from one owner to another. The deed should contain an accurate description of the property being conveyed, should be signed and witnessed according to the laws of the State where the property is located, and should be delivered to the buyer at closing. |
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Related Mortgage Definitions: Deed of Trust Deed Of Trust In many states, this document is used in place of a mortgage to secure the payment of a note. Used in many states in lieu of a mortgage to secure the payment of a note. In a deed of trust there are three ... more... Deed Deed A written document by which title to real property is transferred from one owner to another. The deed should contain an accurate description of the property being conveyed, should be signed and witnessed according to the laws of the ... more... Land Contract Land Contract A contract selling arrangement whereby the buyer may use and occupy land, but no deed is given by seller until the sales price has been paid. Also commonly called a conditional sales contract, installment sales contract or real property sales contract, used ... more... Closing Closing The meeting between the buyer, seller and lender or their agents where the property and funds legally change hands. Also called settlement. Closing costs usually include an origination fee, ... more... |
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