What is the meaning of Deeds?

· Fee simple deed – You actually own an interest in the property. This is the most common type of deed, says Robert Freedman, a shareholder with Carlton Fields, PA, who specializes in time share and community development law. Like your home, it's yours forever, and you can pass it on to your heirs. · Lease hold deed – When the underlying land is leased by developer long-term, says Freedman. You buy a deed to the property, but your rights expire when the developer's land lease expires.