Deed
Categories: Real Estate
Private property ownership is the cornerstone of any successful economy. Victorian England, the United States, the miracle of Singapore and the Chinese economic behemoth all owe their economic successes to the protection of private property.
For real estate, vehicles, and any other kind of large assets, deeds, which are publicly filed documents that verify ownership, are the means by which legal ownership is confirmed and recognized for legal, taxation, and any other purposes. Transfer of title or ownership is conducted via filing of new deeds that specify rights and the extent of those rights.
Which is why, when playing Monopoly, you need to hold the deed for Boardwalk to charge the other players the highest rent on the board.