What does conveyance refer to in real estate?

Conveyance in real estate specifically refers to the transfer of title or ownership of property from one party to another. It is a legal process that involves the execution of documents such as a deed, which serves as evidence of the transfer. When a property is sold, the title is conveyed from the seller (grantor) to the buyer (grantee), establishing the new owner's rights and claims to the property. This process is critical in ensuring that ownership is properly documented and recognized in the eyes of the law, thus protecting the interests of both parties involved in the transaction.

In contrast, the other options pertain to different aspects of real estate. Renting property involves lease agreements and temporary possession, while the appraisal process is concerned with determining a property's market value, and assessment relates to establishing property values for taxation purposes.