A deed is a legal document that transfers ownership of real property. Real property is land, or anything attached to land, such as buildings.First, you'll need to prepare and sign a new deed for the property. You'll usually need a grant form or quit claim form to transfer the deed. What is Needed to Transfer a Deed in Texas? Most living trusts are revocable, so you can change them at any time. 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. In this guide, our Texas estate planning lawyers explain a living trust and the steps to set one up. We also discuss how to fund a living trust in Texas.