Which document establishes legal ownership of a property?

Prepare for the Alabama Post-License Salesperson Exam. Utilize flashcards and multiple choice questions with hints and explanations. Ensure your success on the exam day.

The deed is the legal document that formally conveys ownership of a property from one party to another. It includes essential details such as the names of the grantor (the seller) and grantee (the buyer), a description of the property, and the signature of the grantor. The execution of a deed is a critical step in the real estate transaction process, as it is the document that provides public notice of the transfer of ownership and establishes the rights of the new owner.

In contrast, while the listing agreement is a contract between a property owner and a real estate agent regarding the sale of the property, it does not convey ownership. A survey provides a graphical representation of property boundaries and features, serving primarily to inform parties involved about the land's dimensions and any encroachments. The property profile is a summary of public records relating to a specific property, which may include tax information, but it also does not establish ownership by itself. Therefore, the deed stands out as the definitive document for establishing legal ownership of real estate.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy