What legal document is used to transfer ownership of real property?

Get ready for the New York State Real Estate Salesperson Licensing Exam. Use flashcards and multiple choice questions, with hints and explanations for each question. Prepare for your licensing success!

The correct answer is the deed, which is a legal document specifically designed for transferring ownership of real property from one party to another. A deed serves as evidence of the transaction and includes essential details such as the names of the parties involved, a description of the property, and the intended use of the property. It is crucial because it officially marks the change in ownership and must be recorded with the appropriate local government authority to be legally valid against third parties.

In contrast, a lease agreement is used to grant a tenant the right to occupy and use property for a specified term, but it does not transfer ownership. A sale contract, while outlining the terms and conditions of the sale, does not itself convey title; the deed accomplishes that. An affidavit is a sworn statement that can be used in various legal contexts but does not pertain specifically to the transfer of property ownership. Thus, the deed is the definitive legal instrument for this purpose.

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