Which term refers to the formal act of signing and handing over a deed?

The term that refers to the formal act of signing and handing over a deed is "delivery." In real property law, delivery is a crucial component of transferring ownership. It signifies the grantor's intention to divest themselves of the property and convey it to the grantee. For a deed to be legally effective, it must not only be executed, which involves signing, but also delivered to the intended recipient. This act of delivery indicates that the grantor has relinquished control over the deed and intends for it to be operative.

While execution pertains to the signing of the deed, it is the act of delivery that completes the transfer process. Through delivery, a deed becomes effective, allowing the grantee to hold title to the property. Thus, understanding the importance of delivery in the context of property transactions is fundamental to grasping how ownership is formally transferred in real estate.