What document is used to transfer property from one party to another?

The correct answer is the document known as a deed, which serves the crucial role of transferring property ownership from one party to another. A deed is a legal document that outlines the specifics of the property being transferred, including its description, the parties involved, and any conditions of the transfer. It is signed by the party transferring the property (the grantor) and often requires notarization to be valid. Once executed and delivered, the deed effectively conveys the rights to the property to the new owner (the grantee).

While a contract may outline the terms of sale or agreement between parties, it does not necessarily convey ownership; it is merely an agreement to perform a specific action in the future. A mortgage is a financial instrument that secures a loan with the property but does not itself transfer ownership. The title refers to the legal right to own and use property, which is established through the deed; however, it is not a document that directly facilitates the transfer of property. Thus, the deed specifically fulfills the requirement of transferring property rights effectively and legally.