What is the difference between a deed and a contract of sale?

A deed is a legal document used to transfer title, or ownership, of a property from one person or entity to another. A contract of sale, also known as a sale agreement, is a legally binding document that outlines the terms of a real estate sale. In Alaska, a deed must be signed by the grantor in the presence of two witnesses and an authorized representative of the state, such as a notary public. The deed must then be filed with the Office of the Recorder of Deeds in the county where the property is located. With a contract of sale, the seller agrees to sell a certain piece of property to the buyer, and the buyer agrees to purchase the property from the seller by the terms of the contract. The buyer and seller may include any terms they wish in the agreement, such as payment terms, closing date, or contingencies. The primary difference between a deed and a contract of sale is that the deed actually transfers the title of the property, while the contract of sale simply outlines the terms of the sale. The deed must be filed with the appropriate county office, while the contract of sale does not need to be filed. The deed also serves as proof of ownership, while the contract does not. After the deed is filed, the buyer is the owner of the property, while the buyer does not become the owner of the property until the terms of the contract are met.

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What is the difference between a deed and a contract of sale?

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