What is another word for a deed that signifies a sale between parties?

Prepare for the Massachusetts Real Estate Salesperson licensing exam. Utilize a variety of study modes, including flashcards and multiple-choice questions with comprehensive explanations. Achieve exam success!

The correct answer is that a deed that signifies a sale between parties is often referred to as a transfer document. A deed serves as a legal instrument that conveys, or transfers, ownership of property from one party to another. In a real estate transaction, this document is crucial because it establishes the formal transfer of the title from the seller to the buyer, ensuring the new owner has rightful ownership.

In this context, while a "saleslip" may imply a record of sale, it typically refers to a simpler acknowledgment of a retail transaction and does not have the legal implications associated with real estate deeds. The term "title report" relates to the investigation and report on the legal status of the property’s title to ensure it is clear of any encumbrances, but it does not represent the actual transfer of ownership. "Contract agreement" suggests a broader legal document that outlines various terms of a business arrangement or transaction but, like the title report, does not specifically denote the act of transferring property ownership outlined in a deed. Thus, "transfer document" is the most accurate term for a deed in this context.

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