Which document is essential for the transfer of property ownership?

The deed is the essential document for the transfer of property ownership. It serves as the legal instrument that conveys title from the seller to the buyer, providing evidence of the transfer in a manner that is required by law. A deed must include specific elements, such as the names of the parties involved, a description of the property, and the signatures of the parties for it to be valid.

While title insurance provides protection against certain types of defects in the title and ensures that the buyer has a clear claim to the property, it does not itself transfer ownership. Similarly, a bill of sale is used for transferring ownership of personal property, not real estate, and therefore does not apply in this context. The purchase agreement outlines the terms and conditions of the sale but does not fulfill the necessity of conveying ownership. Thus, while these documents serve important roles in real estate transactions, the deed is the critical document that actually effects the transfer of title to the property.