Title Deed

The Title Deeds are four items found in that are required to complete the Majora's Mask Trading Sequence.

Location and Uses
The four Title Deeds each correspond to one of Termina's five main regions, excluding Ikana Canyon, and are each held by a Business Scrub living in a yellow Deku Flower. Link can obtain them by exchanging other Title Deeds for them, or a Moon's Tear in the case of the Land Title Deed, while wearing the appropriate mask. Only the Land Title Deed is required to finish the game, as it grants Link access to Clock Town's Clock Tower. The rest of the deeds are optional, and all yield an opportunity to obtain an otherwise unreachable. As is the case with many items in Majora's Mask, Title Deeds are lost upon playing the Song of Time and returning to the First Day.

Land Title Deed
The Land Title Deed, also known as the Town Title Deed, is a land deed for the yellow Deku Flower located in South Clock Town. In the game's first three day cycle, Link must trade a Moon's Tear to the Business Scrub inhabiting the flower in exchange for the deed, allowing the young hero, as Deku Link, to fly to the Clock Tower and encounter Skull Kid.

Swamp Title Deed
The Swamp Title Deed is a land deed for the yellow Deku Flower located in the Southern Swamp, just outside the Swamp Tourist Center. Link can receive it by giving the Land Title Deed to the Business Scrub inhabiting the flower while in human form.

Mountain Title Deed
The Mountain Title Deed is a land deed for the yellow Deku Flower located near the in  of Snowhead. Link can receive it by giving the Swamp Title Deed to the Business Scrub inhabiting the flower as Deku Link.

Ocean Title Deed
The Ocean Title Deed is a land deed for the yellow Deku Flower located in Lulu's room in Zora Hall of Great Bay. Link can receive it by giving the Mountain Title Deed to the Business Scrub inhabiting the flower as Goron Link. The Ocean Title Deed can then be traded to the Business Scrub on the path to Sakon's Hideout in Ikana Canyon as Zora Link.

Trivia

 * Any of the Title Deeds can be given to ??? in the toilet of the Stock Pot Inn in order to meet his paper demand.