What is the purpose of a conveyance in real estate transactions?

The purpose of a conveyance in real estate transactions centers around the act of transferring ownership or interest in real property from one party to another. Conveyance is a fundamental concept in real estate as it formalizes the transfer of title and ensures that the rights associated with the property are legally recognized. This process typically involves the preparation and execution of a deed, which is a legal document that conveys the property and details the rights being transferred.

This option highlights the core function of conveyancing, which is essential in real estate dealings to establish clear ownership and safeguard against disputes over property rights in the future. Other activities, such as renting property, evaluating market value, or signing lease agreements, serve different functions in real estate and do not specifically address the transfer of ownership or interests in property.