Gift Deeds are used to transfer ownership of property without receiving anything in exchange for the transfer. It is simply a gift.A Texas Deed of Trust creates a lien on property to secure a Promissory Note. These are two documents needed for real estate loans and seller financing. A deed is a legal document that transfers ownership of real property. Real property is land, or anything attached to land, such as buildings. The gift deed transfers ownership of property as a gift; the person providing the gift, the grantor, expects nothing in return for the transfer. A warranty deed will be held to be a purchase and not a gift, and gift deed will be a gift. Parol evidence will not be received to contradict the instrument. A transfer on death deed (TODD) is a legal document that allows a person to transfer ownership of their property after they die.