The two most common documents used to transfer ownership are the Grant Deed and Quit Claim Deed. A deed of trust, also called a trust deed, is the functional equivalent of a mortgage.A grantor may make a gift of property to the grantee, and use a grant deed form or a quitclaim deed form for the purpose. Trust deeds are legal instruments used in real estate transactions, particularly in scenarios involving trusts. Generally, gift deeds (or deeds of gift) are just another form of grant deed. A trust deed (or deed of trust) is a 3-party security instrument conveying title to land as security for the performance of an obligation. A Trust Transfer Deed is just a grant name with a different title applied to make it clear it is a transfer to trust. When a transaction is exempt, the reason for the exemption must be noted on the document.