What does "conveyance" in real estate refer to?

Conveyance in real estate specifically refers to the act of transferring ownership of property from one party to another. This process involves formal legal procedures, including the drafting and signing of a deed, which is the document that officially transfers title from the seller (grantor) to the buyer (grantee). Understanding conveyance is crucial for real estate transactions, as it ensures that the buyer receives clear and marketable title to the property, free from any claimed interests or encumbrances.

The other options do not accurately capture the essence of what conveyance means in real estate. Preparing a house for sale is related to the marketing and selling process but does not involve the legal transfer of ownership. The negotiation process pertains to discussions and agreements between buyers and sellers but occurs prior to the actual conveyance of property. Lastly, financing options concern how the buyer will secure funds to purchase the property and are not directly tied to the transfer of ownership itself. Therefore, the act of conveyance is a critical component of the overall real estate transaction process.