What legal document details the specific interests and rights of parties in a property transaction?

The title deed is indeed the legal document that explicitly outlines the specific interests and rights of parties involved in a property transaction. It serves as evidence of ownership and provides details about the property, including its description and the rights that the owner holds in relation to the property. Furthermore, it may also detail any encumbrances or restrictions that exist on the property, which are crucial for understanding the full extent of the ownership rights. Essentially, the title deed is a critical document that confirms who holds legal title to the property and what interests they possess, making it foundational in real estate transactions.

In contrast, a purchase agreement is focused on the terms of sale between the buyer and seller, a real estate contract encompasses various agreements related to the transaction, and a property disclosure primarily pertains to the seller's duty to disclose certain information about the property's condition to potential buyers. While these documents are important in the property transaction process, none provide as definitive a statement of ownership and rights as the title deed does.