What legal instrument is commonly used to convey property ownership?

The legal instrument commonly used to convey property ownership is a deed. A deed is a formal written document that transfers interest in real property from one party to another. It serves as the legal proof that ownership has been transferred and outlines the details of the transaction, including the names of the grantor (the party conveying the property) and the grantee (the party receiving the property).

Deeds must be executed according to specific legal standards to be valid, including being signed by the grantor and often being notarized. When a deed is recorded in the appropriate governmental office, it provides public notice of the ownership transfer and helps establish a chain of title, which is essential for clear property ownership.

In contrast, a lease is a temporary agreement for the use of property without transferring ownership, while a title refers to the legal right to own and use property, but it does not itself convey ownership. A contract is a broader term that refers to any legally binding agreement between parties and does not specifically pertain to the transfer of property ownership.