Which document outlines the terms of a property sale?

The deed is the legal document that outlines the terms of a property sale. It serves as the official record of the transfer of ownership from the seller (grantor) to the buyer (grantee). Within the deed, details such as the names of the parties involved, the legal description of the property, and any conditions or exceptions related to the transfer can be found. By executing a deed, the seller formally conveys their interest in the property to the buyer, making it an essential component of the property sale process.

In contrast, a mortgage agreement is a contract between a borrower and a lender that involves the collateralization of the property for a loan, while a title report provides information on the ownership history and any encumbrances or claims against the property. A lease, on the other hand, is a contract between a landlord and tenant, allowing the tenant to occupy the property for a specified time, rather than outlining the terms of a property sale.