Which of the following best describes a deed?

A deed is best described as a document that transfers ownership of property. This legal instrument serves as proof of the conveyance of real estate from one party to another. When a deed is executed and delivered, it signifies that the grantor (the person transferring the property) has relinquished their ownership rights and that the grantee (the person receiving the property) has accepted those rights.

In the context of real estate transactions, the deed contains essential information such as the names of the parties involved, a description of the property being transferred, and any stipulations or conditions related to the transfer. The legal effectiveness of a deed usually requires it to be in writing and to meet specific statutory requirements, such as being signed by the grantor and, in many jurisdictions, being notarized and recorded.

In contrast, the other options refer to different concepts in real estate. A loan secured by property pertains to financing and mortgages, a legal claim against a property relates to liens or encumbrances on the property, and a type of property lease involves a rental agreement rather than a transfer of ownership. Understanding the specific qualities and role of a deed in real estate transactions is crucial for anyone studying real estate law.