What is conveyance in real estate?

Conveyance in real estate specifically refers to the act of transferring ownership of property from one party to another. This legal process is typically completed through a document known as a deed, which outlines the details of the transfer and is often required to be recorded in public records to ensure the new owner’s rights are recognized.

Understanding conveyance is crucial for real estate agents, title agents, and any professionals involved in property transactions, as it establishes the legal ownership necessary for all subsequent actions related to the property, such as financing, taxation, or future sales. This transfer of ownership is foundational to real estate transactions, making it essential to grasp the specific legal nuances and requirements involved in conveyancing that vary by jurisdiction. The other options refer to different aspects of real estate transactions, such as assessments, negotiations, and evaluations, but they do not capture the essence of what conveyance entails.