Which document is typically used to transfer ownership of real property?

The correct answer is the deed, as it is the primary legal instrument specifically crafted for the transfer of ownership of real property. A deed serves as evidence that a grantor (the person transferring the property) has conveyed their ownership interest to a grantee (the person receiving the property). When executed and delivered, a deed ensures that the grantee has a legal claim to the property.

Deeds come in various forms, including warranty deeds, quitclaim deeds, and special purpose deeds, each offering different levels of protection and assurances regarding the property title. This formal document must typically be recorded in the appropriate public land records to provide legal notice of the change in ownership, which is essential for establishing rights against third parties.

In contrast, while title insurance protects against potential title defects, it does not transfer ownership. A lease agreement pertains to a rental arrangement, allowing a tenant to use the property for a specified time, but it does not convey ownership. Similarly, a purchase agreement outlines the terms of a sale but does not constitute the actual transfer of ownership until a deed is executed and delivered. Therefore, the deed is the definitive legal method for transferring ownership of real property.