Certified Residential Appraiser Practice Exam

What is the definition of a deed?

1. A document used for tax assessment

2. A legal instrument that conveys property when executed and delivered

3. An agreement between landlords and tenants

4. An official survey of land

The correct answer is: A legal instrument that conveys property when executed and delivered

A deed is fundamentally a legal instrument that facilitates the transfer of property ownership. When executed and delivered, it signifies the grantor's intent to transfer rights to the grantee. The deed must meet certain legal requirements, including being in writing and properly signed, to ensure that it reliably reflects the transaction and protects the interests of both parties involved. Understanding the definition of a deed is crucial in real estate transactions, as it provides the necessary documentation to establish and confirm ownership rights. This contrasts with the other options provided, which do not encapsulate the essence of a deed. For instance, documents used for tax assessment pertain to evaluations for property taxes rather than ownership. An agreement between landlords and tenants relates to lease agreements and rental terms, which is entirely different from property conveyance. An official survey of land refers to the measurement and mapping of a property, not the legal transfer of title. Thus, a deed specifically pertains to the action of conveying property, making the selected answer the most accurate definition.